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00:02China's exports of electric vehicles and hybrids surged in March as rising fuel prices
00:07linked to the Iran war drove global demand, according to Bloomberg.
00:11Overseas shipments jumped 140% year-over-year to 349,000 units, led by BYD, Geely, and Sherry.
00:19Shares of these automakers rose as energy market uncertainty persisted.
00:23Showrooms across Asia saw increased activity as consumers sought alternatives to volatile
00:28fuel costs, while UK data showed record EV sales in March.
00:31Officials said Chinese automakers can expand their global reach during the Strait of Hormuz
00:36crisis.
00:36Domestic demand weakened as total EV and hybrid sales fell 14% to 848,000 units, marking a
00:43third straight decline and the first first-quarter drop since 2020.
00:47For all things money, visit Benzinga.com.
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