Europe is experiencing a remarkable surge in electric vehicle (EV) adoption, with new EV sales skyrocketing from 1% to 15% in just five years. However, a striking electrification gap is emerging across the continent with parts of Europe making great progress whilst others lag behind at a snails pace.
Let's take a look…
Who are the Regional Leaders and Laggards: It is no surprise Northern European countries like Norway, Sweden, Finland, and Denmark are leading the charge, while countries with strong automotive traditions like Slovakia and the Czech Republic are falling behind. Romania's success is noteworthy however, driven by affordable, smaller and local EVs whilst Finland and Belgium stand out as emerging success stories.
Germany's Leadership: Again, no surprise here. Among Europe's top five car markets, Germany takes the lead with an 18% share of fully electric vehicles, followed by the UK and France whereas Spain and Italy lag significantly behind. Here at Hyperion Executive Search, with offices in both Germany and UK we've seen a huge focus in all of the above mentioned markets with many Manufacturers, Charge Point Operators (CPO's) and CPMS platforms continuing to expand in these countries.
Key Influencers to EV adoption: Charging infrastructure investment and policy support is pivotal whatever market you look at. Italy and Spain need to enhance charging networks and we're seeing growing attention in these markets, although they hold a high potential for solar-powered home charging given the warmer temperatures compared to UK. In the UK, there is a growing emergence of working groups and newly formed trade associations such as ChargeUK who are lobbying hard to ensure continued investment and improvement to charging networks.
Shift to Fully Electric: The era of plug-in hybrids (PHEVs) is waning, particularly in Germany which we knew it would do especially given reduced cost and improvements in battery technologies not to mention, the tightening of emissions targets. This shift away from PHEVs will continue to gather pace and there will be a continued focus on bringing smaller, more affordable full BEVs to market.
So there we have it, Europe's EV revolution is in full swing but it is far from uniform. The electrification gap across European countries is expanding, with northern nations leading the way, and southern counterparts struggling to keep pace. To bridge the gap, countries must continue to invest in infrastructure and maintain policy momentum if they are to ensure a more sustainable and consistent transition to electric mobility across the continent.
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