According to data released by BloombergNEF, Europe now accounts for 34% of global electric vehicle sales and is the second largest worldwide market after China. 2.3 million electric vehicles will be sold in Europe in 2021, up 66% year-over-year, accounting for 19% of all new vehicle sales and only 3.6% in 2019.

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In just a few years, Europe has become one of the world’s most penetrated markets for electric vehicles, and its rapid growth is due to the strong support of relevant policies. By 2020, Germany, France, Italy, Spain, the United Kingdom, and other European countries have launched automotive industry demand stimulation measures to provide subsidies for the purchase of electric vehicles, which has given a strong impetus to the growth of electric vehicles sales. According to statistics, Norway’s electric car sales have accounted for 64.5% of total new car sales, and the electric car penetration rate is the highest in the world. The Norwegian government’s climate protection goals and related support policies have played a significant role.

In July 2021, the European Commission published its proposal for a plan to combat climate change, aiming to reduce at least 55% of the EU’s net greenhouse gas emissions by 2030 compared to 1990 levels and carbon neutrality by 2050. The transport sector is one of the most important targets for emission reductions. The proposal calls for the rapid introduction of low-carbon transport modes and the infrastructure and fuels that go with them, among other things. According to the proposal, the proportion of fuel vehicles registered will be reduced by 55% by 2030 compared to 2021, and no new fuel vehicles will be recorded in 2035. In 2035, there will be one charging station for every 60 kilometers and one hydrogen charging station for every 150 kilometers on significant freeways in EU countries.

Auto companies have accelerated the pace of electrification of their products. European car companies such as Volkswagen, BMW, and Daimler have set electrification targets and launched several new pure electric models. In the first quarter of this year, VW Group’s pure electric vehicle deliveries increased by 65% yearly. By the end of March, VW had delivered about 99,000 pure electric vehicles to customers, up from 60,000 in the same period last year, taking the top spot with a 25% share of the European electric vehicle market. In March, Tesla inaugurated its super factory in Berlin, Germany, which is expected to produce at least 500,000 electric cars and the required batteries annually. German Chancellor Scholz said that electric vehicles are expected to shape the future transportation landscape in Europe.

Driven by multiple initiatives, electric vehicles are essential to reducing emissions in the European region. An automotive data analysis firm has conducted statistics on 17 major European electric vehicle markets, including Germany, France, and the UK. The data shows that both newly introduced and improved electric models are being welcomed by the market, which has positively impacted CO2 emissions, with a 16% year-on-year reduction in CO2 emissions from new vehicles in the statistical region in the statistical area in 2021.

Right now, the supporting infrastructure related to electric vehicles in Europe is still insufficient, which restricts the further expansion of the market. The European Automobile Manufacturers Association said that European countries need to continue to increase investment in electric vehicle infrastructure. According to estimates, up to 14,000 public charging posts need to be installed each week within the EU to meet future demand, while the number of charging seats installed each week in the EU is currently less than 2,000. A report by consulting firm McKinsey says that by 2030, the EU will need to install at least 6.8 million charging posts to achieve the 55 percent reduction in net greenhouse gas emissions it has set as its goal.

SETEC POWER has become one of the leading suppliers of electric vehicle chargers in the European market due to its proven technology and excellent service. For many years SETEC POWER has been working with our customers to promote the development of electric vehicle infrastructure in Europe and to contribute to improving the world’s environment.