Demand for Electric Vehicles Surges in Europe as Oil Price Rises

Volvo Cars’ Chief Commercial Officer Erik Severinson said orders had increased in countries ‘where customers are most sensitive to increase ‌in oil prices.’

A worker inspects an EV's charging system at an auto plant in Hefei, China, on Jan. 17, 2025. Kevin Frayer/Getty Images

Demand for electric vehicles in Europe has risen as the price of oil surges in the wake of the conflict in the Middle East.

Data provided to Reuters by research group New Automotive and industry group E-Mobility Europe, showed registrations of new EVs had risen by 34 percent, year-on-year, in April 2026. There were 201,986 sales in April 2026, compared with 150,624 in April 2025.