If we assume the developed world will eventually care to do something about the climate heating in the medium or long term, this is terrible for the developing world.

Build out the infrastructure for oil, the refuelling, without need of a power grid for EVs first. Then find in 2040 or 2050 that the developed world imposes trade sanctions or other pressure for not being carbon neutral. Build an infrastructure for at best twenty years then throw it away.

That's suggesting to build out with the horse and buggy in 1910.

If, on the other hand, the developed world doesn't get their act together, sure it's great news for the developing world in the short term. While the whole planet accelerates over the cliff edge. We can ultimately trim the population more than we did in the Black Death.