Oil Crisis Drives Asia-Pacific Toward Electric Vehicles, BYD and VinFast Surge

Rising oil prices triggered by the Iranian conflict are accelerating the shift toward electric mobility across Asia-Pacific. From Manila to Vietnam, Thailand to New Zealand, Asian automakers like BYD and VinFast are experiencing unprecedented showroom traffic.

Demand Quadruples in Three Weeks

In the Philippine capital, BYD's Manila showroom is registering exceptional sales volumes. Matthew Dominique Poh, a sales representative for seven months, reports processing a month's worth of orders in just two weeks since the fuel crisis began.

In Vietnam, the effect is even more dramatic. In Hanoi, VinFast urgently expanded its sales team to handle surging foot traffic. According to commercial manager Nguyen Hoang Tu Anh, showroom visits have quadrupled, resulting in 250 electric vehicle sales over three weeks—more than 80 units per week, double the 2025 average. Among these new customers is Lai The Manh Linh, a 41-year-old telecom employee, who traded his petrol-powered Toyota Vios for a VinFast VF 5 compact crossover for daily commutes of 60-70 km. His motivation echoes that of most buyers: "Switching to electric will help us save a lot of money."

Geographic Advantage

This accelerated adoption reflects the region's oil dependence. Approximately 80 percent of crude passing through the Strait of Hormuz was destined for the Pacific region before conflict disrupted this strategic shipping route. Fuel prices there are consequently elevated, creating ideal conditions for electrification.

Albert Park, chief economist at the Asian Development Bank, confirms: "Higher oil prices always help the transition to electric vehicles. It creates strong economic incentives for green transition."

A Regional Phenomenon

The shift extends well beyond Vietnam and the Philippines. In New Zealand, petrol prices rose 20 percent since March, reaching NZ$3 per liter. At BYD New Zealand, sales of fully electric and hybrid vehicles on March 14 were four times higher than a typical Saturday.

In Thailand, three MG dealerships (the brand owned by Chinese SAIC Motor) in Nakhon Ratchasima province recorded at least 20 percent growth in electric vehicle sales, with expanding waiting lists. Surapong Paisitpatnapong, spokesman for the automotive group of the Federation of Thai Industries, strikes an optimistic note: "If oil prices remain at current levels or rise further, we anticipate accelerated adoption of electric vehicles across the region."

Source: leblogauto