The uptake of electric cars in Europe's biggest car markets will accelerate over the next three years, with EVs overtaking internal combustion engine car sales by 2025, according to a report from the Platform for Electromobility.
The Platform for Electromobility, according to its website, is an association of organizations that are "committed to promote electromobility and strive to collectively develop solutions to electrify European transport, and to promote those solutions to the EU institutions and Member States."
According to the report, as cited by Business Green, the main factors driving increased uptake of EVs in the UK, France, the Netherlands, Italy, Spain, and Poland, would include a more extensive choice of EV models, tighter emission regulations, and other government initiatives aimed at phasing out internal combustion engine vehicles as soon as possible. Falling upfront costs for EVs will also play an essential part in increased sales.
Upfront costs, by the way, were identified as the most important factor for a purchase decision, according to the company that conducted the survey on which the report was based, among 14,000 new car buyers across Europe. What the survey results suggest, then, is that when EVs reach cost parity with ICE vehicles, uptake will accelerate considerably.
The Business Green report argues that from a lifetime perspective, many EVs are already cheaper than ICE cars thanks to lower maintenance needs. Yet based on upfront costs, EVs still have a way to go until they become price competitive with gas guzzlers.
Yet, according to the Platform for Electromobility, there is a chance that EVs will reach cost parity with ICE cars within three years, and within 10 years, nearly all cars sold in Europe will be electric.
"We all need to respond appropriately to ensure we meet the demands of consumers," said the chairwoman of Platform for Electromobility, Amelie Pans. "It is our common responsibility to ensure that everyone in Europe, wherever they live, can switch to electric vehicles as early as they want."
By Charles Kennedy for Oilprice.com
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