EV Readiness Index 2023

Maturity of the EV market

The maturity of the EV market increased in almost all markets, scoring 42 additional points (+19%), reflecting the overall improved penetration of EVs in European countries. The charging infrastructure improved considerably, with an increase of 45 points (+43%). A mature infrastructure contributes to a smooth EV transition. Although EVs are still more affordable in most European countries than internal combustion engines (ICEs), the TCO maturity of EVs decreased slightly by -14 points (-6%). This is mostly due to rising energy prices in 2022.

One of the key factors in EV maturity is the actual uptake of EV registrations in a country. This factor includes EV uptake relative to the population, the EV market share for the general market (including consumer market), and the EV order share from LeasePlan customers. The Nordics and Western Europe show the highest maturity in terms of uptake of EV registrations.

Maturity of EV infrastructure

Overall, charging infrastructure continues to be the bottleneck factor holding back the EV transition, once again being the worst-scoring EV Readiness category. This factor includes public charge points relative to the population, public charge points relative to the EV registrations market, and the availability of (DC) fast chargers relative to the size of available highways. Markets such as Germany, France, and the United Kingdom have increased their charging infrastructure significantly compared to the previous year.

Total Cost of Ownership

EV uptake is largely driven by the affordability of driving an EV within the market. This factor includes government incentives, driver taxation, energy prices, and monthly rental of lease vehicle. The index shows that many countries provide strong government incentives, including lower taxation, that already make EVs cost-competitive with ICEs. Several new and improved incentives were added in many European countries compared to last year. In the most EV-ready countries – like Norway, the Netherlands, and the UK – the incentives remained the same or were reduced.

Switzerland and Romania show the highest increase in EV maturity when compared to 2022. In general, all countries saw an increase in maturity or remained constant, except for Italy. Countries like Denmark, France, Germany, Slovakia, and Spain scored higher on charging development when compared to 2022. However, there are still several European countries that continue to score relatively low. TCO maturity only increased significantly in the Czech Republic and Hungary compared to 2022.

With the stroke of a pen

Approximately 50% of vehicles on the road today are registered to corporate organizations. Corporates are therefore incredibly important in leading the transition to a more sustainable transport system. Making the switch 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. It can be done with the stroke of a pen, and no change of strategy is required.

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