Rising fuel prices and “pump anxiety” caused by the Middle East conflict have brought a surge in consumer interest in electric vehicles, leading to more test drives, advert views and sales of used vehicles.
For the automotive industry, the biggest concern is whether the interest will be sustained at a time when carmakers including Ford, Honda and Stellantis have cancelled electric model launches and watered down their ambitions to transition from petrol engines.
“The tide is turning on the volatile nature and over-reliance on fossil fuels and we are now starting to see ‘pump anxiety’ [over the cost of petrol] replacing ‘range anxiety’ [about whether batteries will run out of power mid-journey],” said Matt Galvin, head of EV maker Polestar’s UK business, pointing to a rise in enquiries and test drives for its vehicles.