Europe leads EV charge
Europe is among the regions leading the way in the global transition towards electric vehicles (EVs), solidifying its position as a hub for their widespread adoption.
The switch has led to a surge in the number of consumers opting for EVs as they move towards a more sustainable and environmentally conscious future.
In particular, data acquired by Finbold indicates that sales of new cars with some form of electrification in Europe during the first quarter of this year hit 1,177,637 million.
The highest number of registrations, which include those in the EU, UK and European Free Trade Association, was recorded in March at 494,270. February followed closely with 359,752 registrations, while January saw 323,615.
This indicates a growth of 52.9 per cent in the sale of passenger EVs in Europe between January and March.
Hybrid electric vehicles had the highest share with 667,559 registrations. Battery electric vehicles came in second with 320,857 while plug-in hybrids ranked third on 189,221 units.
Research has identified some of the driving factors for the trend. The report states: “The surge in Europe’s adoption of electric vehicles can be tied to a combination of factors, including a climate-conscious populace with high-income levels, strong government support for EVs and the development of an extensive public-private network for charging infrastructure.”
Although Europe’s electric-car adoption is on the rise, there are still barriers to overcome toward widespread acceptance with high costs ranking among the top concerns.
