As recorded, Europe is home to 741.4 million people and holds a position being one of the strongest currencies in the world can be seen as a quite challenging market to penetrate and especially in the automobile segment. The adaptation of the new mode of transportation is not an easy way to change as the dynamics of transportation also change but provides a realistic attitude to move forward to preserve a sustainable livelihood.
The following graph shows the top 5 countries with new registrations in the electric vehicle market in Europe.
From the South of Europe, Italy recorded 17,134 new registrations with electric vehicles whereas Spain is much higher with 17,476 new registrations. As per KBA (Kraftfahrt-Bundesamt) survey, the number of passenger cars recorded in 2019 was 83,175 whereas in 2020 it is recorded as 1,36,617.
As per a survey conducted in 2019 by ZSW, in Germany, the stock of electric cars by segment are available in Mini, Small car, Compact class, Middle class, Upper middle class, Upper class, Vans, Utility, SUV, Sportscar and off-road vehicle.
In my opinion, the change is inevitable even in Europe with the electric vehicle being present in different segments providing a variety of options to consumers and attracting the right audience for the right segments.
The involvement in the SUV segment is indicating the coverage of long miles so now it’s the availability of a greater number of infrastructures with options to charge the vehicle even in the long route. The development also provided opportunities in the battery segment to come out with more solutions and long-lasting opportunities.