EV adoption

Volvo Cars announced plans to leave the European Automobile Manufacturer’s Association (ACEA) by the end of 2022, citing differences between the long-standing lobby’s zero-emission strategy and its own.

The transportation sector accounts for approximately 30% of carbon dioxide emissions in the US alone. As the United States and the rest of the world for that matter, continue to lean into the paradigm shift of BEV transportation, more and more countries, states, and their consumers must prepare. A new 2022 report from LeasePlan USA has measured a number of data factors and scored an EV readiness index for all of the US.

Reports out of Germany state that the country’s Federal Ministry for Economic Affairs and Climate Action has proposed to gradually phase out subsidies for EV purchases through 2025 and completely eliminate any benefits to consumers purchasing plug-in hybrid electric vehicles (PHEVs) by the end of this year. The German Association of the Automotive Industry (VDA) is pushing back, arguing that PHEVs remain vital to EV adoption.

Luxury automotive manufacturer Bentley is yet another Volkswagen Group subsidiary falling in line with its parent, vowing an all-electric future for its vehicles. Bentley Motors has shared details of its “Beyond100” sustainability strategy, with includes large investments in EV production, a “Dream Factory” revamp in the UK, and carbon neutrality by 2030.

As EV adoption continues to grow around the world, Europe in particular appears to be moving at a quicker pace. With automakers vowing to go all electric as a result of laws to eventually eliminate the sale of combustion vehicles, countries overseas are well on their way to fully embracing zero-emissions vehicles. A new study used historical date to predict where European countries will stand in 2035, based on new EV registrations.

Just a decade ago, EVs were barely an afterthought when it came to transportation, and even those trailblazers who embraced them wouldn’t necessarily call the segment “sexy.” A lot of that changed with Tesla’s original Roadster, followed by other cool looking EVs that helped pave the way (and get legacy automakers to wake tf up). With over twenty new EV models scheduled to arrive this year alone, the thirst for EVs has never been greater. That’s evidence based on all of our Google search data, which has been compiled to present some of the most sought after EVs around the world – even if some don’t technically exist yet.

French automaker Renault has joined the all-electric party in Europe, as its CEO recently shared news that the brand would become 100% electric by 2030. While the announcement is welcomed progress, its timing also correlates with current climate proposals in the UK and EU that will limit ICE by 2030, and require 100% EV sales by 2035. Conversely, another Renault exec has openly spoken out against the ICE ban.

Japanese automaker Honda Motor Co. recently stated it is still undecided on where to manufacture EVs in the United States, questioning the country’s demand despite soaring sales numbers from competitors miles ahead in their own electrified transitions.

Efforts by automakers and legislators overseas appear to be paying off, as a new study found that consumers’ transition to all-electric vehicles in the EU and UK is “inevitable.” Due to commitments from automakers, tighter regulations on CO2 emissions, and a decline in overall costs of EVs, sales across Europe are expected to surpass those of ICE vehicles in the next three years.

Tesla CEO Elon Musk is warning car buyers that they need to take into account that the electric vehicle transition might cause “residual values of gas/diesel cars to plummet in the coming years.” Expand
Expanding
Close