The article by Abdullah Shakil, Analyst I, and Muhammad Saad Siddiqui, Junior Analyst at PTR Inc. highlights the Europe’s ambitious goal to ban ICE vehicles by 2035 has faced mixed reactions, with Germany and Italy opposing and France supporting it. Electric vehicles are environmentally friendly and economically viable, but they face backlash from countries like Germany and Italy, who believe it’s being implemented without proper research. The electric commercial vehicle market in Europe witnessed substantial growth from 2020 to 2021, with per-unit sales of electric trucks, buses, and light commercial vehicles increasing significantly. However, from 2021 to 2022, the sales growth slowed, influenced by decreased market share in countries opposing the ban on internal combustion engine (ICE) vehicles, particularly led by Germany.
Despite challenges, such as supply chain constraints and reliance on foreign raw materials for battery production, electric commercial vehicles are making advances in the region, constituting a notable percentage of overall sales. Despite all these setbacks, the outlook is optimistic. European policies, like the Clean Vehicle Directive, are set to accelerate the adoption of clean vehicles, emphasizing a commitment to sustainable transportation.
Follow this link to learn more: Electric Commercial Vehicles: Opportunities and Challenges in Europe
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