A historic oil shock and surging fuel prices are helping to earn popularity for electric vehicles. China’s Electric vehicle makers are excited about this because it will lead to more sales.

Due to recent conflicts, oil supply from the Middle East has shriveled completely, pushing up crude oil prices to as high as $120 a barrel last week. Because of this people are fearing that this will cause further inflation or maybe even a global recession

But the oil inflation happened at the best time for  China’s EV industry. While China manufactures and exports more electric cars than any other nation, its carmakers face  price competition and slowing growth at home from gas brands. Chinese brands are under increasing pressure to find other markets.

Now, as Chinese EVs are getting cheaper, gasoline is getting more expensive. That combination will likely cause the industry’s global expansion, particularly among Asian nations because of the oil shortage.