As the Middle East conflict drives up fuel costs and generates what many call “pump anxiety,” attention towards battery cars is growing again in Europe.
As noted by the Financial Times, which dedicates an article to the topic, more people are seeking information, trying out cars, and in some cases, deciding to purchase them.
The “pump anxiety” effect
Fuel price hikes at the pump, caused by geopolitical tensions in the Middle East, have shifted the focus of many drivers according to the FT.
Instead of the classic “range anxiety” – the fear of running out of battery during a trip – a more immediate concern is emerging: how much will filling up cost next time.
Matt Galvin, head of Polestar UK, has clearly noticed this, telling the City newspaper that inquiries and test drives of his electric cars have increased significantly.
According to him, the wind is changing: volatility and dependence on fossil fuels are becoming a tangible problem for families, pushing them to look differently at electric alternatives.
BYD rides the wave
One of the brands benefiting most from this moment is BYD, the Chinese giant and world leader in electric vehicle production. In the UK, views of ads for new BYD models have grown by 77% compared to the previous year, while searches for used cars of the same brand have even soared by 375%.
Among the most viewed cars are the Sealion 7, a pure electric starting at about £47,000, and the Sealion 5, a more affordable plug-in hybrid costing around £30,000.
The Chinese company has also launched a direct advertising campaign: “Fuel prices change, your plans don’t. Save with BYD.”
BYD’s global strategy
Despite strong interest abroad, BYD is going through a difficult moment in its domestic market.
Last Friday, it announced the first annual profit decline after four years of uninterrupted growth. President Wang Chuanfu spoke of a “price competition” reaching feverish levels in China.
For this reason, the group is strongly pushing international expansion. Wang described this period as a “golden window” for Chinese brands: thanks to accumulated technological advantage, they believe they can capture significant shares in Western markets just as the West reflects on its energy dependence.
Interestingly, despite sales problems at home, BYD’s stock has risen 17.5% since the start of the Iran conflict, as investors bet on greater demand for clean mobility in Europe and elsewhere.
Bounce back also for European and Korean manufacturers
The interest is not only about the Chinese. Renault has reported a 24% increase in inquiries about its electric models from its website since February 28.
Kia, preparing to launch the EV2 – its smallest and most affordable electric car, under £25,000 – has seen test drive requests for its electric range explode by 84% since February 2025.
How long will this momentum last?
The big question hanging over the entire industry is the sustainability of this renewed enthusiasm.
In the past, every time gasoline prices rose, interest in electric cars also grew, but attention quickly waned when the market calmed down.
Today, several manufacturers – including Ford, Honda, and Stellantis – have decided to cancel or downsize the launch of new electric models, reducing ambitions for the transition from gasoline engines. This strategic retreat happens just as consumers seem to be returning to electric interest for economic rather than environmental reasons.
Factors that could make this cycle different
Some industry managers point out that this time there may be new elements. The market has many more electric models available, both new and used, prices are becoming more affordable, and battery range has significantly improved compared to a few years ago.
According to Acea data, in the first two months of the year, pure battery car sales grew by 15% compared to the same period last year, reaching 19% of the market in the European Union. In the UK, the share is even higher: 22%.
Strong signal from the used car market
One of the most interesting indicators comes from Octopus Electric Vehicles, a company specializing in electric car rental and financing.
Its CEO, Gurjeet Grewal, tells the FT that they are selling about four times more used electric cars than just six months ago.
This would be a concrete sign of real demand and not just passing curiosity: those choosing a second-hand electric often do so to truly save on running costs, not just to try something new.
