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The Guardian - AU
The Guardian - AU
Environment
Jonathan Barrett Business editor

‘BYD effect’: electric vehicle boom becomes unexpected tool to combat inflation

BYD car lot in Canberra
BYD electric vehicle lot in Canberra. The abrupt shift away from petrol and diesel vehicles, accelerated by elevated fuel costs caused by the Iran conflict, is being supported by an influx of cheaper EVs. Photograph: Xinhua/Shutterstock

Electric vehicle sales are surging in Australia, powering a transition that goes beyond fuel savings to become an unexpected tool to combat high inflation.

The abrupt shift away from petrol and diesel vehicles, accelerated by elevated fuel costs caused by the Iran conflict, is being supported by an influx of cheaper EVs that is reducing associated costs such as insurance.

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