Oil Crisis Accelerates India's Shift to Electric Vehicles

Middle East tensions have sent crude oil prices up 50%, sharpening India's pivot toward electric vehicles. With 90% of its oil imported, price swings hit the economy hard. EV sales jumped 25% this fiscal year, crossing 5% of the passenger car market. The momentum spreads beyond cars: electric three-wheelers now capture 30% of their market, two-wheelers 15%.