Demand for all-electric vehicles in the EU surges 3x in 2021

Demand for all-electric vehicles in the EU surges 3x in 2021. image: twitter

DEMAND for all-electric vehicles in the EU has tripled in 2021

European consumers are increasingly turning to electric vehicles as focus turns to the industry. Several initiatives from governments are inspiring the demand from consumers.

According to data acquired by Finbold, the demand for new passenger battery electric (all-electric) vehicles across Europe surged by 231.58 per cent between Q2 2020 and Q2 2021, from 63,422 to 210,298, with the figures reflecting a triple growth in demand for all-electric vehicles.

Elsewhere, demand for the hybrid electric vehicle also spiked by 213.54 per cent, to 541,162, representing the biggest growth for all new passenger vehicles in Europe. In total, the electric vehicle registration in the second quarter of 2021 stands at 751,460, a growth of at least three times compared to the cumulative figure of 236,015 in 2020.

During the period, plug-in hybrid vehicle demand surged 255.8 per cent, from 66,252 to 235,730, while natural gas vehicles recorded a demand of 41.84 per cent, from 9,515 to 13,497.

Furthermore, during the first half of 2021, battery electric vehicles recorded a share of 6.7 per cent less than new passenger cars by fuel type in the region. Hybrid electric vehicles had a share of 18.9 per cent, while plug-in hybrids stood at 8.3 per cent. Petrol accounted for the highest share at 42 per cent, followed by diesel at 21.7 per cent, while natural gas had a share of 0.5 per cent.

According to the report, it explains how different government policies contributed to the surge in demand for electric vehicles in Europe, “For instance, when the coronavirus pandemic hit, most governments across the region focused their stimulus packages on companies that are operating in line with fighting climate change. Notably, a big part of the support focused on incentives for consumers to buy EVs, creating a surge in demand”.

Additionally, the demand emerged at a period when the electric vehicle industry suffered a chip shortage due to supply chain constraints caused by the pandemic, however, the full impact will manifest later this year, as reported by finbold.com.

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Written by

Chris King

Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]

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