Pakistan EV Sales Surge Amid Hormuz Fuel Crisis

In the wake of Iran's blockade of the Strait of Hormuz following U.S. and Israeli attacks in late February, Pakistan has seen a dramatic surge in sales of electric motorbikes and scooters, as rising fuel prices and shortage fears push consumers toward affordable alternatives. Retailers across the country, from Rawalpindi in the north to Karachi in the south, reported overwhelming demand in March, with some outlets experiencing their steepest sales increases ever.

The crisis has driven global oil prices higher, exacerbating Pakistan's economic challenges amid inflation and a post-pandemic recovery. The nation imports nearly all its oil through the Strait of Hormuz, fueling rumors of shortages despite government assurances of steady supplies. A recent 18 percent hike in petrol prices has made the burden acute: a household earning the median wage now spends 31 percent of its daily income on a liter of fuel, more than in all but 22 of 139 countries tracked by globalpetrolprices.com and Our World in Data.

Two-wheelers and three-wheeled auto-rickshaws, which consume about 40 percent of Pakistan's petrol, dominate its roads, where cars remain a luxury and public transport is limited....