Fuel Shortages in Russia Drive Surge in EV Sales

Recently, fuel shortages and sharply rising gasoline prices have hit multiple regions across Russia, prompting several areas to impose fuel purchase limits. In some regions, retail gasoline prices have neared the high levels seen in Europe. As a result, consumer interest in electric vehicles (EVs) has surged significantly. From January to May this year, sales of new plug-in hybrid electric vehicles (PHEVs) in Russia reached 24,600 units, a 125% year-on-year increase, while all-electric vehicle (BEV) sales totaled 4,460 units, up 19% year-on-year. In late June, weekly PHEV registrations hit 1,754 units—nearly 30% higher than the previous week and about 50% above the year-to-date weekly average. EN, a dealership specializing in Chinese-brand vehicles, reported that it now sells two to three EVs per day, compared to only two to three units per month previously. The Geely electric SUV on display has drawn inquiries from numerous customers, with demand rising simultaneously for both affordable and premium EV models. Despite Russia’s vast territory, harsh winters, and longstanding insufficient charging infrastructure, the number of public charging stations still grew by 20% in the first half of this year. Some EV owners noted that because they already own hybrid and electric vehicles and have installed private charging facilities, they have not been affected by the fuel shortage—but they also believe the current buying surge is unlikely to last. Data shows that in 2023, combined sales of BEVs and PHEVs accounted for just 4.3% of total vehicle sales in Russia.