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BYD exec says oil price surge is a 'wake-up call' that is pushing people to buy EVs

Business Insider·Tom Carter·20 days ago
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BYD's Stella Li said rising gas prices would help drivers realize EVs were "saving them money." WEF BYD sees an upside to gas-powered cars becoming more expensive to run. BYD exec Stella Li said that the rising cost of gas is driving interest in the Tesla rival's EVs. The Chinese EV giant is betting on a major global expansion to reverse sinking sales and profits. Tesla's biggest rival sees an upside in the oil price shock : more EV buyers. Stella Li, the executive vice-president of Chinese EV giant BYD , said on Wednesday that the rapid rise in global oil prices following the war in the Middle East was a "wake-up call" for car buyers who had been reluctant to go electric. "People suddenly realize that electric and hybrid cars are saving them money. With the oil price increasing, it's hurting their daily life ," the BYD executive told the Financial Times' Future of the Car Summit. "This helps us, also.…

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