Electric cars have saved oil-importing countries $20bn since the start of the Hormuz energy crisis | Ember

Electric cars have saved oil-importing countries $20bn since the start of the Hormuz energy crisis

India, Brazil and 13 other countries overtake the US on electric car sales share in 2026

14 Oct 2026

“The countries that invested in electric vehicles before this crisis are now better protected and a growing number are following,” said Euan Graham, Senior Energy Analyst at Ember. “Every electric car on the road reduces exposure to volatile oil markets, and as fleets grow, so does the protection against future supply shocks. The benefits of the global shift to electric cars extend beyond cutting emissions, with implications for energy security, economic resilience and how countries position themselves in a world where dependence on imported oil carries immense risks.”

China accounted for the largest share of these savings, with its electric car fleet displacing $14 billion worth of crude oil. EU member states saved a further $3.1 billion, with Germany and France accounting for the largest shares. On an annual basis, Denmark’s electric car fleet is already displacing oil equivalent to 13% of the country’s oil consumption.

Fifteen countries, including India and Brazil, overtook the US for BEV sales share in 2026

The global shift towards electric cars is increasingly leaving the US behind. After federal support for EVs was rolled back in 2025, BEVs accounted for 6% of US light-duty vehicle sales in the first eight months of 2026.

Of the 56 countries tracked by Ember, 49 now have a higher BEV sales share than the US. Fifteen countries overtook it for the first time in 2026, including India, Brazil, Italy, Malaysia and New Zealand.

India has recorded a higher BEV sales share than the US every month since April. Brazil has also moved ahead of the US as its domestic EV market grows alongside new manufacturing capacity. Other major car markets are also catching up. Japan’s BEV sales doubled in 2026 following the introduction of a policy to help consumers with upfront costs.

The countries that invested in electric vehicles before this crisis are now better protected and a growing number are following. Every electric car on the road reduces exposure to volatile oil markets, and as fleets grow, so does the protection against future supply shocks. The benefits of the global shift to electric cars extend beyond cutting emissions, with implications for energy security, economic resilience and how countries position themselves in a world where dependence on imported oil carries immense risks.

Euan Graham
‍
Senior Energy Analyst at Ember

Full electric car sales reach new highs across the world

The global shift towards fully electric cars is continuing despite policy changes in China and the US. Oil supply disruptions are also accelerating EV sales in countries including India, Chile, Australia and New Zealand.

Globally, BEV sales increased by 11% year-on-year, while plug-in hybrid sales fell by 12% and internal combustion engine vehicle sales fell by 6% in the first eight months of 2026. Excluding China and the US, global BEV sales grew by an estimated 45%.

BEVs accounted for 18% of new car sales globally in the first eight months of 2026, up from 16% in the same period last year.

Countries are also developing domestic EV manufacturing capacity as adoption grows. In India, domestic manufacturers Tata and Mahindra accounted for more than 60% of EV sales in the first half of 2026. Brazil is expanding its role as a regional manufacturing hub, while Viet Nam’s VinFast is growing its production footprint overseas.

Other markets are seeing growth as a result of longer-standing policies to support EV uptake. France’s social leasing scheme has helped its BEV sales share exceed 30% for the first time, while Germany has seen stronger sales following the introduction of new consumer subsidies at the start of 2026.

About Ember

Ember is an independent energy think tank that aims to accelerate the clean energy transition with data and policy. It creates targeted data insights to advance policies that urgently shift the world to a clean, electrified energy future.

Learn more
Share