4 Million Electric Cars from over 300 Models Will Be Available in Europe in 2025Business | August 9, 2019, Friday // 07:03| views
Electric vehicles in Europe will increase dramatically in the coming years. 214 electric vehicle models will be available in the European markets in 2021, up from about 60 in 2018. It is expected that by 2025 there will be over 330 available electric vehicle models .
"Until recently, the EV market was limited to a niche of early adopters but tomorrow’s landscape will be very different as EVs enter a new phase and near the mass market.," the T&E analysis quoted by the BNR as saying.
According to the forecast in the period 2019-2025, the production of electric cars in Europe will increase 6 times to over 4 million cars, achieving a market share of about 20%.
The largest manufacturers are companies from Germany, France, Spain and Italy, as well as factories in Slovakia, the Czech Republic and Hungary.
All major European manufacturers - Volkswagen, BMW and Daimler, PSA and Renault-Nissan-Mitsubishi are increasingly relying on electric models, according to an analysis that said companies such as Fiat Chrysler, Ford and Tesla are also in the game.
Lucien Mathieu, transport and emobility analyst at T&E, said: “Thanks to the EU car CO2 standards, Europe is about to see a wave of new, longer range, and more affordable electric cars hit the market. That is good news but the job is not yet done. We need governments to help roll out EV charging at home and at work, and we need changes to car taxation to make electric cars even more attractive than polluting diesels, petrols or poor plug-in hybrid vehicles.”
European companies have so far invested a total of $ 163 billion in the development of electric cars. Sales in Europe are currently reported to be growing, although around 60% of electric vehicles are purchased in Norway.
In the US, 208,000 new electric cars were registered in 2018, and although this is a negligible share of the market, there is a 100% increase over 2017, according to IHS Markit.
The company notes that gasoline and diesel cars will dominate the market for at least another decade, but the end of internal combustion engines is near.