BYD, Geely See More EV Demand As Oil Prices Climb From Iran War

China’s BYD Co. and Geely Automobile Holdings Ltd. are poised to benefit from higher demand for electric vehicles as the Iran war drives up oil prices.

“Overseas sales growth will become a bigger priority for Chinese automakers this year as higher oil prices boost EVs’ popularity, with electricity’s steadier pricing,” Bloomberg Intelligence said. On the other hand, intense competition and subsidy cuts probably dented first-quarter earnings.