In China, electric taxis are becoming an increasingly important buffer against oil price shocks caused by the Iran war.
Government data shows taxi trips have grown 6% since the conflict began compared with the same period last year.
The jump reflects a quirk of China’s transport structure: fares are falling despite gasoline prices rising.
Analysts say a flood of new drivers searching for work in a sluggish economy combined with cheap electric cars is depressing fares, in turn attracting passengers who want to save on higher petrol costs.
“Especially when gas prices are high, I’d rather take a taxi to places that are too far to bike to,” said Yang, a 45-year-old owner of a petrol car, who only gave her surname.
The trend adds to evidence that transportation in China is becoming less dependent on oil.
About half of China’s 1.3 million-strong taxi fleet is electric, according to the Ministry of Transport. In major cities it is closer to 100%.
