Chinese automaker, BYD, is seeing a surge in EV buyers amid rising oil and gas prices, with over 4.6 million electric and plug-in hybrid vehicles sold globally. Since its decision to stop building vehicles powered solely by internal combustion engines in 2022, the company has become the world’s largest EV maker. Sales growth has slowed recently due to competition and shifting policies, but BYD is seeing an increase in EV demand. One dealership in Manila, the capital of the Philippines, saw a month's worth of orders in just two weeks. A recent analysis from UK-based Ember found that global EV adoption helped avoid 1.7 million barrels per day of oil consumption last year, or about 70% of Iran's exports through the Strait of Hormuz.