Will Higher Gas Prices Really Boost EV Sales?
The theory isn't new. When gas prices surge, the transition to electric vehicles should accelerate. Whether that theory will translate into action during the current surge in gas prices, however, is still up in the air.
The logic seems straightforward. If gas becomes expensive enough, drivers will naturally look for alternatives. Electric vehicles (EVs), which cost significantly less per mile to operate, offer a clear solution. But the relationship between oil prices and EV adoption isn't quite that simple.
The latest spike in fuel prices, driven by renewed tensions in the Middle East, has once again piqued investor interest. Will this moment in time finally push EV adoption into its next growth phase?
Source Fool.com
