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Electric Vehicles (EVs) saw a resurgence in the 21st century, as advances and developments in several emerging technologies are on its swing. The increased focus on renewable energy has also paved ways towards the adoption of EVs. According to Accenture findings, electric vehicle adoption will overtake conventional vehicles by 2040 and glean a US$2 Trillion opportunity for utilities. By June 2018, over 1 million plug-in electric passenger cars and vans have been registered across Europe alone, the second-largest stock after China.

As per the new analysis by Transport & Environment (T&E), Europe’s leading clean transport campaign group, “The next two years are likely to be the tipping point for electric vehicles going mainstream in Europe, as the number of electric car models on the European market is set to more than triple in the next three years.”

The adoption of electric vehicles in Europe is actively supported by the European Union (EU) and several European governments have set public subsidies and other non-financial incentives to encourage their prevalent adoption.

The first time EVs came into existence in the mid-19th century, when electricity was among the most favored methods for motor vehicle propulsion, providing a level of comfort and ease of operation that could not be attained by the gasoline cars of the time. And now, EVs are projected to rise from 2% of the global share in 2016 to 22% in 2030.

According to T&E, the number of electric vehicle models made across the EU will take a big leap from nearly 60 models at the end of 2018 to a total of 214 battery-electric (BEV), plug-in hybrid (PHEV), and fuel cell (FCEV) models by 2021, and will exceed to 333 models in 2025. The report from T&E shows, “Until recently, the EV market was limited to a niche of early adopters but tomorrow’s landscape will be very different as EVs enter a new phase and near the mass market.”

As per the IHS Markit’s light vehicle production forecast data and T&E analysis, the production of EVs across Europe is set to surge 6-fold and will mark over 4 million cars and vans during 2019-2025. This much of production volume would account more than a fifth of the EU car production volumes. By EV manufacturing, diesel-fueled car making will be replaced across Europe, with the largest production sites in western Europe, including Germany, France, Spain, and Italy, T&E analysis report noted. In central and eastern Europe, Slovakia, the Czech Republic, and Hungary are also expected to be significant EV production centers.

Transport and E-Mobility Analyst at T&E, Lucien Mathieu says, “Thanks to the EU car CO2 standards, Europe is about to see a wave of new, longer range, and more affordable electric cars hit the market. That is good news but the job is not yet done. We need governments to help roll out EV charging at home and work, and we need changes to car taxation to make electric cars even more attractive than polluting diesel, petrol or poor plug-in hybrid vehicles.”

The report further highlighted that the major European carmakers, including Germany’s Volkswagen, BMW, and Daimler, France’s PSA, and the Renault-Nissan-Mitsubishi alliance are anticipated to roll out several EVs in Europe. Moreover, Fiat Chrysler, Ford, and Tesla are also planning to offer new models in Europe by 2025.