Hyperdrive
Cheaper EVs Will Spur Demand in Europe, Transport Lobby Predicts
- Lobby group sees rapid EV growth thanks to glut of new models
- Current EV slump weighing on plant output in several countries
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Electric cars could reach a market share of as much as 24% in Europe next year as carmakers start to release cheaper models to turn around the slump in EV demand, according to the Transport & Environment lobby group.
There is a “glut of new, more affordable models” coming, said Lucien Mathieu, cars director at T&E. In a report released Tuesday, the group said it expects “rapid growth” of EV sales, citing its own analysis of first-half auto sales and forecasts.