New Delhi, Aug. 1 -- China's rapid adoption of electric vehicles is accelerating the country's shift away from fossil fuels, with oil displaced by EVs rising 42 per cent year-on-year to 33.7 million tonnes of oil equivalent (Mtoe), or 1.4 million barrels per day, in the first half of 2026, according to a Jefferies report.

The report, citing a study by the Centre for Research on Energy and Clean Air (CREA), said the fossil fuel displaced by EVs during the first six months of 2026 was equivalent to 6 per cent of China's total crude oil imports in 2025, which stood at 579 million tonnes. It added that oil displaced by EVs has nearly tripled from 11.6 Mtoe, or 0.5 million barrels per day, in the first half of 2023, highlighting the growing i...