EVs set to reach 24% car market share in EU
The new projections take into account the anticipated arrival in 2024 and 2025 of seven new fully-electric models priced under USD 27,835, accounting for 10%-15% of the BEV market next year.
Battery-electric cars (BEVs) sold in the EU are on track to reach a market share of 20% to 24% by 2025 thanks to lower selling prices, according to campaign group Transport & Environment (T&E), Reuters reports.
EV sales in the EU have slackened in recent months partly due to diverging policies on green incentives within the bloc, while regulators have imposed heavy tariffs on Chinese cars.
In September, the EU’s largest EV market, Germany, introduced schemes to speed up the green transition.
In June, T&E had forecast a 21% share for next year. The new projections take into account the anticipated arrival in 2024 and 2025 of seven new fully-electric models priced under 25,000 euros (USD 27,835), accounting for 10%-15% of the BEV market next year.
BEVs should contribute approximately 60% of the CO2 reduction carmakers require to meet next year’s EU emissions targets, while hybrid options could contribute 20% of reductions, it said.
“The current lead enjoyed by Chinese EV makers only shows that the longer the EU protects its laggard automakers, the less competitive they will be,” T&E said.
