With oil prices rising, are you seeing increased adoption of electric vehicles (EVs)?

883 views1 Upvote5 Comments

Director IT | CTO Office | Digital Factory / Industry 4.0 in Hardware, 10,001+ employees
It surprised me to see EV companies crashing in the stock market when oil prices are rising. Why isn't everybody turning to electric vehicles instead?
2 Replies
Board Member in Healthcare and Biotech, 1,001 - 5,000 employees

It could be because of the supply chain impacts from the Russia/Ukraine conflict, because a lot of the raw material comes from China and Russia.

Director IT | CTO Office | Digital Factory / Industry 4.0 in Hardware, 10,001+ employees

In one sense, that's true, but the other aspect is that all the other electric vehicles (EVs) are not able to come up to speed and deliver. You see it in nearly all the companies making EVs; they did all their showcasing and marketing, and now that it's time to deliver, they're all falling short. You would think Tesla stock would be flying, but they're not because they're the only ones that are delivering at this point, apart from Volkswagen.

CTO in Software, 11 - 50 employees
A key factor that’s impeding wider adoption is that electricity costs are increasing. It varies by country, but in the UK we've seen it double and we're expecting another rise. If you're using an EV, you still have to charge your car and it's suddenly going to be more expensive. With electricity getting more expensive, there will be ripple effects. And as a startup, we are hearing through the grapevine that it's affecting valuations as well. VCs are starting to look at discounting what their typical markup would be because there's more risk and they want to be a lot more cautious.
Chief Information Officer in Manufacturing, 10,001+ employees
I don't think there has been an increased adoption across the states. I would say that there has been a larger adoption on the east and west coasts. The US infrastructure isn't setup to support a mass EV adoption. We've seen this happen in California in the past several weeks where charging your vehicle was discouraged due to over-taxing the electrical grid.

Content you might like


Yes, but not enough, we want/need to ramp up39%


No, but I expect this will change soon6%


1.7k views1 Upvote1 Comment


API Gateways26%


Flexible Infrastructure19%

Digital Decoupling10%

Total Replacement6%

Other (please comment below)2%


2.2k views3 Upvotes1 Comment