Electric vehicles displaced 200 million barrels of oil worth $20 billion in six months, Ember analysis finds
By Eve
EVs in oil importing countries displaced an estimated 200 million barrels of crude oil worth $20 billion between March and August during the Hormuz energy crisis, according to energy think tank Ember. China accounted for $14 billion of the avoided oil consumption, while EU countries saved $3.1 billion, with Germany and France representing the largest shares. Fifteen countries, including India and Brazil, have overtaken the US this year in the share of new vehicles sold that are fully electric.
Why it matters
The analysis demonstrates quantifiable energy security benefits from EV adoption during supply disruptions, potentially strengthening the business case for fleet electrification and charging infrastructure investment. Countries with established EV fleets and charging networks gained measurable economic protection, which may influence procurement priorities and policy support for charging infrastructure development.
Source
- Original title
- “Electric cars saved $20B in oil – and the US is falling behind”
- Published
- 13 October 2026
- Updated
- 16 October 2026
- Also covered by
- thedriven.io
In this story
- Topic
- Electric Vehicles
- Place
- United States
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