Analysts say the spread of the Middle East crisis may drive drivers to switch from traditional internal combustion engine vehicles to electric vehicles, although the transition is expected to be gradual. The Iran conflict has severely disrupted oil exports through the Strait of Hormuz, a chokepoint for about one-fifth of global oil and liquefied natural gas shipments. The conflict has underscored global dependence on fragile fossil fuel trade routes, with soaring oil and gas prices rocking energy markets and fueling broad inflation concerns.
