On May 13, data released by consulting firm Benchmark Mineral Intelligence (BMI) indicated that, spurred by soaring gasoline prices, consumers are increasingly turning to electric vehicles (EVs). In April, the global demand for EVs witnessed growth for the second consecutive month, with new car registrations for battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) surging by 6% year-on-year to reach 1.6 million units. Although this figure represents a 9% decline from the record high set in March, it nonetheless underscores a sustained upward trend. BMI attributed this demand growth to a confluence of factors, including policy incentives, escalating oil prices, and the growing clout of Chinese manufacturers in the global market.

Further data revealed that, despite the imposition of EU tariffs, Chinese brands managed to expand their market share in Europe's electric vehicle sector to 22% during the first four months of 2026. This marks a significant increase from the 19% share recorded during the same period the previous year, highlighting the resilience and competitiveness of Chinese EV makers in the face of trade barriers.