HYDERABAD: Rising geopolitical tensions have heightened concerns over global oil supply disruptions, pushing crude prices upward and increasing fuel costs in import-dependent countries like India. The volatility has renewed interest in electric vehicles (EVs) as consumers reassess long-term ownership costs.
EV experts say sustained instability could accelerate adoption. Acceptance has grown significantly, with interest rising from about 30% five years ago to nearly 50% now, driven by both environmental and economic factors. They point out that EVs offer far lower running costs — around `1–1.25 per km compared to `10–12 per km for petrol vehicles. Models such as Battery-as-a-Service have also reduced upfront costs, making EVs more accessible.
Venugopal Rao Nellutla, founder and CEO of BYB Consulting, said, “Fuel volatility is a wake-up call. EVs are no longer just an environmental choice but a strategic necessity for energy security and cost stability.”
Manufacturers report increased enquiries and bookings in recent days. H Prashanth, an EV manufacturer, said several customers have shown interest amid fuel concerns.
Abhijit Reddy, a software employee, said he opted for an EV due to lower running costs. Mohammed Imran, a delivery executive, cited savings on fuel expenses, while Sai Teja, a small business owner, said long queues at petrol bunks highlighted the need for alternatives.
Experts believe that even if fuel prices stabilise, growing awareness and cost advantages will continue to drive EV adoption.