EVs Set to Surge to 24% Market Share in Europe by 2025, Says T&E
The European Federation for Transport and Environment (T&E) has forecasted a significant rise in electric vehicle (EV) market share by 2025. This follows the end of uncertainty over EU car CO2 targets.
T&E predicts EVs will reach 20-24% stock market today by 2025. However, relying more on hybrids could reduce this requirement to 20%. In its central compliance scenario, EV sales are expected to rise from 14% in the first half of 2024 to 24% in 2025.
To support this growth, national governments should implement comprehensive charging master plans and stable, targeted subsidy schemes. By 2025, almost a quarter of new cars sold in Europe are expected to be battery electric vehicles (BEVs). T&E welcomes the end of uncertainty over EU car CO2 targets and calls for electrification targets for corporate fleets. EV sales growth will account for more than half (60%) of the CO2 reduction needed to reach 2025 targets. Expansion of mass market EV offerings is expected to support this rise in EV sales.
T&E's predictions highlight the growing role of EVs in Europe's automotive market. With supportive policies and increased mass market offerings, EVs are set to become a quarter of new car sales by 2025, playing a significant role in CO2 reduction.
