Is the market of electric vehicles in Europe advantageous?

Oftentimes, any new and leading technology has to go through scrutiny, of being well accepted in such market. Is the consumer willing to pay enough to go ahead and invest in a new concept which has been failed in the 1990s due to the lack of the right agenda to pull through such innovative ideas?

Europe is no doubt, an important market for the manufacturers due to the acceptance of new technology and also a dominant market for automobiles. Europe is also known to be a competitive market and well advanced to accept the new principles leading to a better sustainable environment or achieve the sustainable development goals.

As per a survey by EAFO, Germany is the leading player in the electric vehicle market for plug-in electric car sales in Europe. In 2020, in the passenger car segment, Germany recorded a high in the registration of electric vehicles with more than 20,00,000 sales whereas France and UK with more than 1, 50,000 sales.

In 2019, in Europe, the top 10 new electric passenger cars market share for the battery electric vehicles,

Source:- ICCT

As the rise in sales increases for electric vehicles so does the charging stations. The electric vehicle charging station also needs to be increased or placed in a higher number to satisfy the growing demand.

Source:- EAFO

In my opinion, as the numbers are of electric vehicles are increasing so does the number of charging stations available in Europe. The rise of the stations are no doubt steady increasing, helping in satisfying the demand of such charging stations. The rise is recorded 27% high from last year for 2020, around 38% high for 2019 from 2018. And around 300% rise from 2015 to 2020 for the installation of public charging station.

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