Europe's Car Market to Hit 24% EV Sales by 2025
By 2025, Europe's car market is set for a significant shift, with almost a quarter of new vehicles expected to be battery electric vehicles (BEVs). This surge is driven by a wave of new, more affordable models, according to the European Federation for Transport and Environment (T&E).
T&E projects that electric vehicles (EVs) will secure a 20-24% market share by 2025. In its central scenario, EV sales are expected to rise to 24% that year, boosted by an expansion of mass market EV offerings. However, T&E suggests that relying more on hybrids could reduce the required EV market share to 20% for compliance with stricter 2025 targets.
EV sales growth is anticipated to account for over half (60%) of the CO2 reduction needed to meet the 2025 targets. To support EV uptake, national governments are urged to implement comprehensive charging master plans and stable, targeted subsidy schemes.
Lucien Mathieu, the Cars Director at T&E, advocates for these measures and will be announcing the third annual CiTTi Awards on November 26, 2024. T&E welcomes the EU's commitment to car CO2 targets and calls for electrification targets for corporate fleets and stable regulatory environments for EVs.
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