Sales of EVs in Europe have stalled and that is bad news for the industry’s huge sales targets set by the European Union. EVs might win a market share of around 20% this year but have to accelerate to around 80% in 2030 and 100% by 2035.
“We maintain this forecast for the moment, but it could be even lower with the current political and economic situation in Europe,” he said in an email exchange. European EV makers can see there is little chance of reaching the mandated EU targets, and German companies like VW, BMW, and Mercedes are seeking their dilution. The German government has suggested leaving the rules unchanged but canceling the fines. This is causing consternation amongst net-zero champions.
His comments came as many European governments find themselves under pressure to do the reverse. Germany’s early election in February is likely to echo voter resentment about net zero. The new Trump Administration in the U.S. has made it clear it will support internal combustion engines.“European mainstream carmakers are just starting to launch but it won’t be enough for the targets.