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Europe is expected to take the global lead by 2030

The market trends and advancements for battery electric vehicles (BEVs) have been examined by ACEA. While China is presently in front of Europe and the US in terms of electrifying the auto industry, the European market will recover in 2025 and regain the lead over the other global regions by 2030.

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Editorial board @ EVMarketsReports.com

BEVs now account for about 20% of all new automobiles registered in China in 2022, putting the nation well ahead of the US and Europe in the electrification of the auto industry.

From January through September of this year, China sold 2.9 million new BEVs, an increase of 89.4%. Government incentives intended to increase sales following the interruptions of the lockdowns in April and May, which mostly favoured the purchase of new electric vehicles, were a major factor in this outcome.

1 million battery electric vehicles were sold in Europe, including the EU, EFTA nations, and the UK, a 25.7% increase over the same nine-month period last year. This rise has been robust but less pronounced.

The greatest obstacle is still the deployment of charging stations throughout Europe, and this development will only continue if governments increase infrastructure spending.

According to the most recent ACEA Progress Report, only two EU countries—the Netherlands (90,000 chargers) and Germany (60,000 chargers)—represent less than 10% of the total surface area of the EU yet currently account for about 50% of all charging outlets for electric vehicles.

In fact, the EU would need up to 6.8 million public charging stations by 2030 to achieve the planned 55% CO2 reduction for passenger cars. This implies a growth rate of nearly 22 times in only 10 years.

Source: ACEA

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Europe is expected to take the global lead by 2030 with a 70% BEV share

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Editorial board @ EVMarketsReports.com