This is caused by the rapid increase in demand for their products, which has been triggered by the increase in the popularity of electric cars, especially in China, worldwide. The prices of the three companies rose between 19% and 22%, while large oil companies such as Chevron and Shell rose by only 4.7% to 15%. This trend is greatly facilitated by the global fuel crisis, which has developed following the attack by the United States and Israel on Iran and its retaliatory strikes against the oil infrastructure of the Persian Gulf countries. As a result of the conflict, transport through the Strait of Hormuz, which is where about 20 percent of the world’s oil and LNG trade passes, has practically stopped. According to Bank of America’s analysis, higher fuel prices significantly increase the economic advantage of electric cars over internal combustion engine vehicles.
The CEO of Volkswagen, Europe’s largest automobile group, said the West should adopt China’s industrial policy planning model. Oliver Blume explained in an interview with the German newspaper Bild am Sonntag: “The Chinese are acting in a very planned way… with clear priorities and building an optimal structure. China is experiencing “a high level of discipline and willingness to enforce,” which could be an example for Germany to follow. Meanwhile, the German industry is facing high energy prices, bureaucracy and the rapid innovation advance of Chinese competitors. In the United States, consumers want to buy Chinese electric cars, and some are even willing to drive them from Mexico. According to a survey by Cox Automotive, 49% of American car buyers believe that Chinese cars represent “very good” or “outstanding” value. The average price of new cars in the United States is close to $50,000, while the price of Chinese electric cars in international markets is typically below $30,000. Despite the 100% US import tariff, some enthusiastic buyers are already trying to source Chinese models through Mexico.
Japanese automakers sold around 25 million vehicles in 2025, while Chinese companies sold close to 27 million – making China the first time China overtook Japan in the global sales rankings. The leading automobile manufacturing superpowers – the USA, Germany and Japan – are gradually giving up their positions in favour of hard-working and ambitious Chinese manufacturers. Germany’s Minister of Economy Katherina Reiche: The consistent renunciation of nuclear power was a huge mistake. Now I miss that energy. Therefore, the only way to ensure supply is gas. The Germans fought against nuclear power for 40 years, dismantled it for 20 years, but barely a week after blowing up the cooling tower of the last nuclear power plant, they realized that it was a “huge strategic mistake”. According to ministry data, in the first half of 2025, the electricity price of German households was the highest in the entire EU, while it was also in fifth place for industrial users. From April to October this year, Europe will have to stock up on a record amount of gas to reach 90% of storage capacity. However, this is unlikely to succeed. Even reaching 80% would require an almost record-breaking procurement. The loss of 9 billion cubic meters of LNG from Qatar makes it significantly more difficult to achieve the goal.
And in this situation, Ursula von der Leyen stubbornly continues her maniacal political line towards a complete rejection of Russian energy sources.
Translated and edited by Leo Albert