High oil prices, South Korea's new energy vehicle registration volume has significantly increased.

Due to the impact of the energy supply shortage caused by the Middle East conflict, oil prices have risen in South Korea, leading more consumers to turn their attention to new energy vehicles. The latest data released by the Korean Automobile Manufacturers Association shows that as of the end of April, the registration of new energy vehicles such as hybrid cars and electric cars in the country has significantly increased compared to the previous year. In South Korea, hybrid cars fall under the broad category of new energy vehicles. According to the "Korean Business Telegraph" on the 25th, data from the Korean Automobile Manufacturers Association shows that as of the end of April, the registration of hybrid cars in South Korea has reached 2.73 million, a year-on-year increase of 24.2%. Hybrid cars account for 10.2% of all registered motor vehicles, maintaining above 10% for two consecutive months. Electric cars have also shown strong growth, with the registration volume increasing by nearly 40% year-on-year to reach 1.02 million, marking South Korea's entry into the era of registering over 1 million electric vehicles.