The EU agreed drafted legislation to ban the same of petrol and diesel cars by 2035.
Never not problematic: The EV industry is in danger
Automakers are making the EV transition; electric is becoming the new normal and demand is only increasing. By all standards, the EV industry should be hitting its stride. Instead, the hefty wait times that accompany these pricey vehicles are threatening the shift to EVs and making it difficult to achieve net zero targets. Supply chain issues aren’t letting up either – the war in Ukraine is further exacerbating the problems caused by the Covid-19 pandemic.
In this Vanity Fair article, Nick Bilton discusses how some automakers have even stopped taking orders for the time being, such as Ford and its Mustang Mach-E SUV. Meanwhile, EV makers such as Rivian are in such demand that some owners are listing their cars of sale at double the price of a new one. As inflation rages on we could witness a stall in luxury EVs unless prices return to normal.
China’s plans to dominate the European EV market
China’s making moves. The country has been amassing influence in the European EV industry, targeting the more affordable end of the market.
Chinese automakers have been entering the EU market for some time now, with brands such as Xpeng, Nio and BYD already present or planning to launch in the EU. According to market analyst, Schmidt Automotive, around 15% of Western Europe’s 1.2 million EVs bought in 2021 were made in China – and that figure is predicted to double to around 90,000 or around 6% of the EV market in the next year. In this piece by Forbes, Neil Winton analyses the growing effect China is having on the European EV market, as well as the effectiveness of EVs produced there.
EV sales in the UK hit half million
Who would have thought: EV sales in the UK hit a total of half a million in June, despite ongoing supply chain issues. Sales are even predicted to surpass France later in the year, the Guardian reports. This shows massive growth – in 2019, only 100,000 EVs were on the road. At present, EVs still only account for 1.2% of cars driving in Britain, but it’s also a promising sign that the regulations set to kick in during 2035, banning petrol and diesel cars, are already doing their job.
According to automotive analyst Matthias Schmidt, the half million point would have been reached earlier had disruptions such as the pandemic not occurred. Britain has had to deal with the effect of Brexit on its emissions targets. Before, it could rely on other, more green focused countries to balance out its emissions. Now, it must look to the future, and bring more EVs onto the road.