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Electric Cars Surge as Petrol Prices Soar
Description
Record high petrol prices are driving a global shift towards electric vehicles, with the International Energy Agency predicting they will make up nearly a third of all new car sales worldwide within the next year. In Australia, drivers could save up to $688 annually by switching to an electric car due to recent petrol price spikes. Global electric car sales surged by 30% in Europe and more than doubled in Southeast Asian nations like Vietnam and Thailand. The agencys executive director called last year a turning point, with electric car sales breaking records in almost 100 countries. The growing popularity of electric vehicles is forcing manufacturers and the energy sector to adapt, providing relief during the biggest oil supply shock in history. The agency predicts electric car sales will hit 23 million in 2026, accounting for 28% of all car sales.
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