EV Readiness Index 2022

Transport is the fastest-growing contributor to climate change. Road transport alone accounts for approximately 20% of carbon dioxide emissions in the EU. About half of all vehicles on the road today are registered to corporate organizations. This means that corporates play an incredibly important role in leading the transition to a more sustainable transport system. Switching to a low-emission fleet is one of the easiest ways for businesses to lower their overall emissions footprint and to help tackle climate change. And the best part? It can be done with the stroke of a pen: no change of strategy is required.

Published

May 2022

Industry

Electric Vehicles

Topic

EV Readiness

Author

LeasePlan

This 5th edition of Leaseplan’s EV readiness index provides a comprehensive analysis of the preparedness of 22 European countries for the electric vehicle transition. The Index is based on three factors:

The maturity of the EV market
The maturity of the EV infrastructure
Total cost of ownership (TCO) of an EV

An evaluation framework table assessing electric vehicle (EV) market maturity, charging infrastructure, and total EV ownership cost across categories. Each row lists KPIs with max points and weighting. Total highest possible score is 50 points. — Source: EV readiness index 2022 | LeasePlan

More than just a ranking

The EV Readiness Index includes 22 countries. They are: Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Luxembourg, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Spain, Sweden, Switzerland and the United Kingdom.

However, the Index provides much more than an overall ranking of countries. The detailed data for each of the key factors provide actionable insights into the EV Readiness of each individual market, helping international ﬂeet and mobility managers make the right decisions when it comes to electrifying their ﬂeets.

The EV Readiness Index 2022 rankings are determined using three key factors:

Maturity of electric vehicle market in a country
Maturity of charging infrastructure in a country
Total cost of ownership of EV

Key findings 2022

One of the key findings is that EV uptake increased significantly in almost all markets. This is in line with the increasing popularity of EVs across European countries, with more models becoming available across all segments.

Charging infrastructure, however, is still lagging behind on this, creating conditions for a charging shortage as EV registrations keep increasing rapidly. This highlights the urgent need for governments all across Europe to invest in a robust and reliable public charging infrastructure.

Another key finding is that, currently, EVs are more affordable than ever. The comparatively lower energy prices for EVs (especially when compared to increased diesel and petrol fuel prices) and more beneficial taxation arrangements for EV owners are mostly driving cost competitiveness.

Of all countries, Norway ranked highest in terms of EV readiness. Czech Republic ranked lowest and Greece had the most improved score compared to 2021.

Map of Europe showing EV Readiness scores by country. Scores range from under 14, shown in dark blue, to over 35, shown in bright green. Norway, the UK, and the Netherlands have the highest scores. Other countries have varied scores, with some in the lower ranges. — Source: EV readiness index 2022 | LeasePlan

Country highlights

The top-3 was composed of the same countries as last year, with Norway #1, Netherlands #2 and UK #3.

Austria increased significantly, sharing the #3 position with the UK. This can be ascribed to an improved charging network and a steep increase in EV registrations.

Of all countries Greece improved the most, going from 16 points to 23 points. This rise in the charts is driven by an increased EV market share and lower TCO for EVs.

Sweden went up 5 points and Belgium 4, meaning both increased their score significantly. This is mainly due to an improved charging infrastructure and more favourable government incentives for EVs.

Norway and The Netherlands are the most mature markets. However, a small increase in government taxation could have a negative impact on their scores in coming years.

A ranking table titled "Total score" lists countries by their adoption and readiness for electric vehicles. Norway leads, followed by the Netherlands and the United Kingdom. Scores are given across five categories, including EV maturity and charging maturity. — Source: EV readiness index 2022 | LeasePlan

Get ‘free of charge’ access to more than 300 valuable EV Market Insights via evmarketsreports.com, the world’s largest e-Mobility Reports and Outlooks database. Enjoy reading!