Industry

Oil-importing countries save $20 billion as EV use expands

Oil-importing countries cut crude consumption by about $20 billion over six months as electric vehicle use expanded worldwide, analysis showed. Energy think tank Ember estimated EVs in oil-importing countries replaced demand for about 200 million barrels of crude in March to August. China had the biggest impact, while the United States lagged in EV share. Ember said EV expansion is becoming an energy security strategy alongside cutting carbon emissions.

Mobility

Tesla sales slip in China as exports surge 108 percent from Shanghai plant

Tesla\'s China business is shifting from domestic sales to exports, with January-September sales to Chinese consumers down 11.9 percent to 381,088 vehicles while exports from the Shanghai Gigafactory rose 108 percent to 361,972. Total shipments from Shanghai increased 22.5 percent to 743,060, with exports accounting for 49 percent versus 29 percent a year earlier. China sales weakened further in the third quarter, while a planned cut in export VAT rebates from 2027 could raise costs.