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1.     +1 217 636 3356 +44 20 3289 9440 sales@mobilityforesights.com    Your Cart 0   Company Market Reports Consumer Research Advisory Services Exports - Imports Careers Contact Us Blog Your cart is empty Your Name Return to Shop Business Email Europe Electric Vehicle Market 2024-2030 Country Phone Number +82 Company Name Single User License : $ 3,500 Your message Corporate User License : $ 6,000 Published Date: June 2024 By submitting this form, you are agreeing to the No of Pages: 105 Terms of Use and Privacy Policy. I'm not a robot  Request Sample reCAPTCHA Privacy - Terms DOWNLOAD SAMPLE BUY NOW DESCRIPTION TABLE OF CONTENTS EUROPE ELECTRIC VEHICLE MARKET KEY FINDINGS The average price of EVs in the Europe market by various EV types is, BEVs at $38.3K and PHEVs at $68K as of 2023, with the sales of BEVs being much higher than PHEVs. With battery price for per kWh decreases we will see drop in average cost and hence driving the market fro more affordable EVs The European government has made the announcement of banning hybrids, PHEVs, and anything with an internal combustion engine (ICE) by 2035, BEV will be the key driver for the market In Europe, over 150,000 public charging points were installed in 2023 across the EU reaching a total of over 630,000. The European Government aims for 1 million public charging points by 2025 and more than 3 million by 2030, hence eliminating the range anxiety among customers The major players in the market are Volkswagen Group, Stellantis, Tesla, Mercedes Benz, BMW and Hyundai, out of which Volkswagen Group is at the top with 21%, followed by Stellantis with 13% and Tesla with 12%. Each OEM is planning to expand their market share by introducing a wide variety of EVs to cater various requirements. During the forecasted period, the sales of Commercials Electric Vehicles are expected to increase and that will affect the value of the entire European EV Market. The BEV segment in EV type accounts for almost 92% of the total volumes in 2023, which show the shift toward pure electric vehicle in entire Europe market France’s 2024 eco-bonus tweaks incentivize cleaner EV production and counter cheap, high-emission imports. This, coupled with the EU’s AFIR infrastructure push, creates a strong support system for European EVs, potentially accelerating their adoption and boosting European competitiveness in the global market. The shift towards Lithium Iron Phosphate (LFP) batteries is prominent due to their lower production costs and reduced reliance on scarce materials like cobalt. These batteries are becoming more popular in Europe, following their extensive use in China effectively. The integration of advanced driver-assistance systems (ADAS) and autonomous driving features is on the rise in European EVs. This includes technologies like lane departure warning, adaptive cruise control, and even some level of self-driving capabilities on highways, all these features make EV safer options and hence driving the market Germany and France are the key regions in Europe for EV sales with more than 800K BEV and 330K PHEV sales in 2023. Netherlands, Sweden, and Belgium also hold significant market share in EV sales in Europe. We use cookies to understand site usage and improve content and offerings on our site. To learn more, refer to our Privacy Policy. By continuing to use this site, or closing this box, EUROPE ELECTRIC VEHICLE MARKET OVERVIEW 0 The European EV market is experiencing robust growth, with sales reaching 3.2 million units and revenue of $146 billion in  2023. It’s projected to grow at a CAGR of 17%, reaching $415 billion by 2030. BEVs, priced at $38.3K, dominate over PHEVs Learn more you consent to our use of cookies. ($68K). The EU’s plan to ban ICE vehicles by 2035 is driving BEV adoption. Government incentives, averaging $5,000 per Got it! buyer in major markets, support growth. Send message Continue Shopping Charging infrastructure is expanding rapidly, with over 630,000 public points in 2023 and aims for 3 million by 2030. Volkswagen Group leads the market with a 21% share, followed by Stellantis (13%) and Tesla (12%). France’s 2024 eco- bonus changes and the EU’s AFIR initiative are expected to boost European EV competitiveness and accelerate adoption, with policies increasingly favouring BEVs to meet emission reduction targets. INTRODUCTION The European electric vehicle (EV) market is at the forefront of the global transition to sustainable transportation, driven by ambitious climate goals, stringent emissions regulations, and strong governmental support. This dynamic sector encompasses a wide range of vehicles, primarily focusing on Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs), with a growing emphasis on fully electric models. Europe’s commitment to reducing carbon emissions has led to aggressive targets, including the planned phase-out of internal combustion engine vehicles by 2035. This regulatory landscape, coupled with substantial financial incentives and expanding charging infrastructure, has created a robust ecosystem for EV growth across the continent. Major European automakers, along with international competitors, are rapidly expanding their EV offerings, catering to diverse consumer needs from urban compact cars to luxury vehicles. As technology advances and economies of scale improve, EVs are becoming increasingly accessible to a broader range of consumers, marking a significant shift in Europe’s automotive landscape and setting the stage for a cleaner, more sustainable future in transportation. EUROPE ELECTRIC VEHICLE MARKET TRENDS Evolving Consumer Preferences: Consumer concerns about range limitations might ease as battery technology improves and charging infrastructure expands. Environmental consciousness will likely continue to drive consumer preference towards EVs as a more sustainable transportation option. Demand for a wider variety of EV models.

2. Regulations & Incentives: European governments are setting ambitious emission reduction targets and offering financial incentives for EV purchases. This policy push is a major driver for EV adoption. They are aiming to improve overall energy efficiency by at least 32.5% by 2030 Installation of fast charging stations of at least 150 kW every 60 km along the trans-European transport network (TEN- T). Advancements in Battery Technology: Solid-state batteries are anticipated to revolutionize the market once commercialized around 2025, these batteries offer higher energy density and improved safety compared to traditional lithium-ion batteries . Advanced Battery Management Systems (BMS) is improving the efficiency, safety, and lifespan of batteries through more sophisticated BMS is a critical focus To know more about Global Electric Car Market, read our report EUROPE ELECTRIC VEHICLE MARKET SIZE AND FORECASTING The Europe EV Market was valued at $XX Billion in 2023 and is projected to reach $XX Billion by 2030, reflecting a compound annual growth rate (CAGR) of XX% from 2024 to 2030. NEW UPCOMING EVS IN EUROPE MARKET Tesla Model Y ‘Juniper’ Engine Power: Varies by trim (likely ranging from 300 to 500+ horsepower) Range (WLTP): Estimated 400-500 miles Max. Power: Varies by trim Max. Torque: Varies by trim Autonomy WLTP Combined Cycle: Estimated 400-500 miles Acceleration 0-100km/h: Under 4.0 seconds Full charging time: Supercharger V3 (about 15 minutes for 50% charge) Price in USD: Starting around $50,000 Audi Q4 e-tron Engine Power: Up to 300 horsepower Range (WLTP): Estimated 250-300 miles Max. Power: 300 horsepower Max. Torque: Not specified (likely over 400 Nm) Autonomy WLTP Combined Cycle: Estimated 250-300 miles Acceleration 0-100km/h: Under 6.0 seconds Full charging time: DC fast charging (about 30 minutes for 80% charge) Price in USD: Starting around $45,000 Volkswagen ID Buzz Engine Power: Up to 300 horsepower Range (WLTP): Estimated 250-300 miles Max. Power: 300 horsepower Max. Torque: Not specified (likely over 400 Nm) Autonomy WLTP Combined Cycle: Estimated 250-300 miles Acceleration 0-100km/h: Under 6.0 seconds Full charging time: DC fast charging (about 30 minutes for 80% charge) Price in USD: Starting around $40,000 Mercedes-Benz EQA Engine Power: Around 190 horsepower Range (WLTP): Estimated 250-300 miles Max. Power: 190 horsepower Max. Torque: 375 Nm Autonomy WLTP Combined Cycle: Estimated 250-300 miles Acceleration 0-100km/h: Around 8.9 seconds Full charging time: DC fast charging (about 30 minutes for 80% charge) Price in USD: Starting around $45,000 EUROPE ELECTRIC VEHICLE MARKET DYNAMICS SI No Timeline Company Developments Battery major Amara Raja Group has invested Euro 10 1 Jan 2022 Amar Raja million in Norway-based EV tech and batteries maker INOBat Auto. Nissan will invest 2 trillion yen ($17.6 billion) over the next 2 Jan 2022 Nissan five years developing new EVs. It aims to release 15 new EVs total by 2030. By 2030, Toyota plans to invest 4 trillion yen ($35 billion) in the development of a full range of 30 battery-powered electric vehicles. 3 Jan 2022 Toyota By 2030, it wants to sell 3.5 million battery electric vehicles worldwide. Upcoming 95gm Co2/km fleet average limit, WLTP emission and fast charging network expansion across Europe will address range anxiety and boost EV uptake. Germany, where the tax on PHEV company cars is half that of conventional cars(valid for <40,000 Euros sticker price) after new rule in Sep 2019, and France now has a steep CO2-based taxation will boost PHEV

3. sales. Audi, PSA, BMW and Mercedes have a strong line-up of PHEVs in pipeline (more than 20 PHEVs in 2019-2022), to be manufactured post Q2-2020 to meet the 2021 95gm/km CO2 regulation. Post Covid, to improve the automobile market, various subsidies were introduced which boosted the overall EV sales in Europe allowing them to beat China and become the market leader for EV sales in 2020. The sale of electric vehicles (EV) in Europe has overtaken that of diesel automobiles for the first time ever. More than a of vehicles sold in European markets, including the UK, were electric, while diesel automobiles fell to less. The number of battery electric vehicles sold in Western Europe reached an all-time high. Europe has always had a number of prominent companies in the petrol and diesel automobile industries, but today’s revelation should spur EU automakers to improve their EV credentials even further. With incentives, infrastructure, and charging stations, there has been a clear focus on the demand side; nevertheless, far more attention should be paid to the supply side, notably ensuring that the EU is not reliant on China for energy. Towards An All-Electric Future In Europe, Ford Makes Risking Steps. Ford today announced important steps towards an all- electric future in Europe, which will alter the company and enable it to launch a new generation of seven fully-connected, all- electric passenger cars and vans. The company recently revealed that a new worldwide business unit called Ford Model e had been established. This organization is responsible for the design, manufacturing, and distribution of electric and connected vehicles. Today’s statement adds to that information. The future of Ford in Europe will be determined by these two business areas and Ford Pro, the division devoted to the company’s commercial vehicle industry. They are excited to see how quickly things are changing in Europe and are pushing their entire sector to create vehicles that are more advanced, greener, and digital. Ford has created Ford Model e to enable them to move at the speed of a start-up to build electric vehicles that delight and offer connected services exclusive to Ford, are built with Ford-grade engineering, and that are safe. Ford is all-in and moving quickly to meet the demand in Europe and around the world.Ford anticipates that its yearly sales of electric vehicles in Europe will surpass 600,000 units thanks to its expanded lineup of electric passenger and commercial vehicle models. With the addition of a second electric vehicle to the Cologne manufacturing lineup, Ford will start producing an all-new electric passenger vehicle that is a medium-sized crossover. Additionally, a Craiova, Romania-made electric version of Ford’s best- selling passenger vehicle in Europe, the Ford Puma, will be offered. TOP SELLING EV MODELS IN EUROPE FROM JAN-SEP 2021 Sl No Manufacturer Model Jan Sep 2021 Sales Volume 1 Tesla Model 3 100,993 2 Volkswagen ID 3 53,037 3 Renault Zoe 45,694 4 Volkswagen ID 4 38,305 5 Ford Kuga PHEV 36,193 6 Kia Niro EV 33,929 7 Hyundai Kona electric 32,299 8 Volvo XC40 PHEV 31,736 9 Fiat 500 Electric 30,922 10 BMW 330e 29,847 In September 2021, the Tesla Model 3 was the top selling model with 24,952 registrations. Next to that, Tesla Model Y recorded the most number of sales 9496 in September 2021. The Volkswagen ID 3 was the second most sold car, recording over 53,000 registrations so far. The Renault Zoe has also reached many customers and noted over 45,000 bookings. At last, the Volkswagen ID 4 has about 38,000 registrations in the first nine months of 2021. Europe Region Revenue for first 9 Sl EV Europe Region Revenue for first Y-o-Y Change months in 2020 No Manufacturer 9months in 2021 €(billion) in % € (billion) 1 VW 139.7 133.5 4.64 2 Tesla 46.84 31.53 48.6 3 Renault 43.3 42.8 1.2 4 Sonos 68 53 28.3 5 Ford 136.4 127.4 7.1 6 Hyundai 30330 29240 3.7 7 Volvo 36.89 35.27 4.6 8 BMW 132.15 99 33.5 9 Fiat 100.55 87 15.6 10 PSA group 53.91 40.57 32.9 EUROPE ELECTRIC VEHICLE MARKET SEGMENTATION By Country Germany Italy Spain UK Rest of Europe By EV Type Plug-in Hybrid Electric Vehicles Battery Electric Vehicles By Battery Capacity <50 kWh 50-100kWh >100kWh By Vehicle Type Passenger Vehicles Commercial Vehicles EUROPE ELECTRIC VEHICLE MARKET SHARE- 2020

4. Renault Zoe was the market leader followed by Tesla Model 3 and Volkswagen I.D 3. 68% of the market share was held by 7 OEMs in Europe. ELECTRIC VAN MARKET IN EUROPE The access restriction by major European cities like London, Madrid to allow only plug-in vehicles to ply in city centers is a major growth driver for electric van market. Most of the electric vans will be available with two battery sizes (50-55/70-80 kWh) and are expected to deliver range of 200 and 300 kilometers respectively as per the new WLTP cycle. In UK, which accounts for 15% of Europe van market, sales of electric vans grew to ~3,200 units in 2019, just 1% of the total light van market. The top selling electric vans were Nissan NV200, Renault Kangoo (including Kangoo Maxi), Peugeot Partner and LDV V80. EUROPE ELECTRIC VEHICLE MARKET CHARGING INFRASTRUCTURE 1. Netherlands(26%), Germany(19%), France(17% and the UK(13%) – account for 63% of all public EV charging points in the EU as of Jan 2021. 2. About 6,800 DC Fast chargers are operational as of Jan 2020. Tesla has more than 70% market share and more than 52% of them are in just 4 countries i.e. Norway(15%), France(13%), Germany(12%) and UK(11%). To know more about DC fast charger market, read our report EUROPE ELECTRIC VEHICLE MARKET TRENDS KIA ties the new push back to the “Bold for Nature” design behind the concept EV9, which will be introduced on the LA auto show on November 17. KIA EV6 wins category ‘Premium’ and ranked second in ‘New Energy’ for vehicles powered solely by batteries or hydrogen. There will be three more Gigafactories of Volkswagen group in the countries like Sweden, Germany and in Spain. Last month, the total number of new passenger plug-in electric car registrations increased 42% YoY to 227,238, which is one of the best monthly results ever. The Car market share in Europe has grown by 12.7% and the market share of Volkswagen has increased to 10.4%. The MG Marvel R Electric flagship electric SUV has gone on sale in selected European countries but not in the UK yet. Bridgestone announced a partnership with EV charging station provider EV Box. Together with European mobility service provider TSG, The companies are working to expand Europe’s EV charging infrastructure over the next five years. Italy’s EV market keeps growing in Quarter 3 of 2021. The sale in 2020 was about 35,000 units and in 2021 it has increased to almost 50,000 units. In June,the Renault brand increased its all-electric car sales to 13,004 globally, which is 6% more than a year ago and the second-best monthly result ever. NIO announced that it has received European Whole Vehicle Type Approval(ECWVTA) for the NIO ES8 all electric SUV, which was an essential foundation for NIO’s entry into the European market at large. In Germany, Tesla has officially submitted the amended application documents to include battery production at GigaBerlin near Berlin. Hyundai and Uber announced a strategic partnership related to electric cars in Europe, with a goal to increase adoption of EVs and expand the charging infrastructure in major cities. EUROPE ELECTRIC VEHICLE MARKET RECENT LAUNCH

5. By 2024, Ford wants to debut three new electric passenger vehicles in Europe, with the goal of selling over 600,000 electric vehicles in the region by 2026. Ford will start producing an all-new electric passenger vehicle in Cologne, a medium-sized crossover, with a second electric vehicle joining the Cologne production line-up in 2024. Furthermore, starting in 2024, Ford’s best-selling passenger vehicle in Europe, the Ford Puma, will be available in an electric version built in Craiova, Romania. Ford also confirmed that the first mass-market all-electric passenger vehicle to emerge from the Ford Cologne Electrification Centre will be a five-seat, medium-sized crossover. Toyota, a Japanese automaker, has outlined a more aggressive electrification strategy for Europe that will see the bZ4X joined by five other all-electric models. With these BEV options, Toyota hopes to meet its sales target and become carbon neutral faster. The Toyota bZ4X, the first in the automaker’s new “bZ” line of BEVs, is a fully electric vehicle. The bZ4X is still back on the market, and a new bZ concept that made its debut at the LA Auto Show has since joined it. Toyota teased five new “bZ” models, including a smaller car/SUV next year, as part of its much more proactive EV strategy (at least for Europe). Hyundai, a South Korean automaker, is getting closer to entering the lower end of the EV market and may soon offer two small, compact EVs. Hyundai has always needed a cost-effective compact EV to compete with similar vehicles planned by European heavyweights like Volkswagen Group, which is preparing to introduce small, affordable EVs through its Cupra, Skoda, and Volkswagen brands. This is true even today. In addition to the current Ioniq 5 compact crossover and the recently unveiled Ioniq 6 sedan, which is scheduled to arrive in Europe by the end of the year, Hyundai is aiming to launch an additional 11 fully electric vehicles in Europe. EUROPE ELECTRIC VEHICLE MARKET COMPETITIVE LANDSCAPE The European Market is divided across multiple OEMs and have a healthy competition. Tesla sells only BEVs whereas BMW`s lineup is completey comprised of PHEVs except BMW i3 and Mini Electric. Renault- Nissan- Mitsubishi alliance have 3 best-sellers and account for 15% market share. Tesla Model 3 was one of the most popular BEV in 2019 and 2020. VW brand which has 12% market share of new car sales in Europe is so far lagging behind in EV development, but it has received good response to its upcoming ID3 all-electric hatchback. New models based on the MEB platform will be hitting the market and it’ll include vans, crossovers etc. Volvo had a 25% of their sales under electrified and plans to increase the percentage in the coming years. PSA group also launched multiple plugged in vehicles and also saw a great response from the market. Due to the increased sales in 2020, OEMs are expecting better sales in the coming years and the government supports electrification through EuroNCAP. Unlike China, where more than 400 EV startups are functional due to conducive government incentives and policies( till H2 2019), Europe is home to less than 5 EV startups. EUROPE ELECTRIC VEHICLE MARKET COMPANY PROFILES Tesla Volkswagen Dacia Mercedes-Benz BMW Hyundai Renault Skoda BYD Ford EUROPE ELECTRIC VEHICLE MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS 1. How many Electric vehicles are manufactured per annum in Europe? Who are the sub-component suppliers? 2. Cost breakup of an Electric Vehicle and key vendor selection criteria in Europe 3. Where is the Electric Vehicle manufactured in Europe? 4. Where are the major EV component are manufactured globally? 5. Market share of Electric Vehicle manufacturers in Europe and their upcoming products 6. Which are the most Popular EV Models in Europe– 2023? 7. key predictions for the next 5 years in Europe Electric Vehicle market 8. Average B-2-B Electric Vehicle market price in all segments 9. Latest trends in Electric Vehicle market, by every market segment 10. The market size (both volume and value) of the Europe Electric Vehicle market in 2024-2030 and every year in between? 11. OE Supplier Alignment of Major Automobile Brands 12. OEM Stance on EV and Growth and Expansion Plans of Major Companies RELATED REPORTS MARKET REPORTS CONSUMER RESEARCH INFORMATION ADVISORY SERVICES CONTACT INFORMATION  172/1, 2nd Floor, 5th Main, 9th Cross Rd, Opposite to Kairalee Nikethan Education Trust, Indira Nagar 1st Stage, Bengaluru, Karnataka 560038, INDIA  +1 217 636 3356, +44 20 3289 9440  sales@mobilityforesights.com Working Hours: Mon - Fri (9 AM - 9 PM IST) Connect with us     © Copyright 2017-2023. Mobility Foresights. All Rights Reserved.