The electric vehicle (EV) revolution in Europe is gaining so much momentum that there are estimates the number of available models will triple in just two years.
The latest numbers from the European Union, reported on here by the BBC, illustrate the rapid uptake of EV vehicles on the continent – and manufacturers responding to demand.
The numbers show that carmakers will offer 214 EV models in 2021, up fro 60 models at the end of last year.
These will be made up of 92 fully electric vehicles and 118 plug-in hybrid models.
If manufacturers stick to their plans and release timetables, 22 percent of vehicles will have a plug by 2025.
The biggest electric car production plants will be in Germany, France, Spain and Italy, the data shows.
Some 16 large-scale lithium-ion battery cell plants are confirmed or due to begin operations in Europe by 2023.
“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,” Lucien Mathieu, a transport and e-mobility analyst at T&E, was quoted as saying by the BBC.
“That is good news, but the job is not yet done. We need governments to help roll out electric vehicle 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.”
The latest forecast confirms Europe as a major driver of EV adoption worldwide — with several European cities banning combustion engine vehicles from entering city centres, fearing the cumulative effect of smog.
This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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