U.S.-Israel-Iran war puts India’s EV gap in focus, Pg7

Key Highlights:

• The U.S.-Iran conflict, starting February 28, 2026, caused a surge in global oil prices, with OPEC basket price rising by 67% between February 27 and March 27.
• China's new-energy vehicles accounted for 52.9% of passenger car sales in March 2026, while India's EV share was only about 6%.
• In 2024, China sold over 72 lakh electric two- and three-wheelers, whereas India's sales in 2026 were approximately 4.27 lakh.
• India has about 14 electric cars per public charger, while China has roughly 9, indicating better charging infrastructure in China.

Detailed Insights:

• Increased fuel prices have strengthened the argument for accelerating the transition to electric mobility, with demand for EVs rising across Asia.
• India has made progress in electric three-wheelers, but adoption in cars and buses remains low, and charging infrastructure is limited compared to China.
• Reliance on petrol, diesel, and LPG makes India vulnerable to geopolitical conflicts in West Asia, impacting Indian households directly.

Key Concepts Involved:

• Electric Vehicles (EVs): Vehicles powered by electricity instead of fossil fuels, reducing reliance on oil imports.
• OPEC Basket Price: A weighted average of prices for different crude oil blends produced by OPEC member countries, used as a benchmark.
• Strait of Hormuz: A narrow waterway connecting the Persian Gulf and the Gulf of Oman, a critical route for global oil supply.