Germany is expected to overtake China’s electric vehicle market by 2021. It is interesting to analyze the growth of the electric vehicle manufacturers in Germany since it saw an enormous rise in the number of new passenger plug-in car registrations off late.
Recently, Germany doubled it’s incentive to buyers of battery-powered cars as a part of the 130 Billion Euros economic recovery package for the period through the end of next year.
Buyers of full-electric cars with a net price of up to 40,000 Euros ($44,815) will be eligible for a grant of 9,000 Euros ($10,083), including 6,000 Euros from the government and 3,000 Euros from automakers.
Due to this decision, a significant rise is expected in the German Electric Vehicle Market.
Following is the month wise comparison for the first quarter between the above players:
Credits: EV Sales Blog
Electric Vehicle Adoption in Germany
According to the KBA statistics, the electric car sales in Germany during the first quarter of 2020 were 25,975 which are 3.7% of the Total German Car Market (701,362).
It is important to note that this impact was influenced by the total collapse of the new car market due to Covid-19.
Germany, recently, also earmarked 2.5 billion Euros to build electric charging spots and battery cell technology as a part of its a stimulus package. It aims to install about one million public EV charging spots by 2030, up from 27,730 currently.
Based on the renewed incentives and the focus to increase the number of charging points, it can be conclusively said that Germany will be leading the EV market soon.
EV Duniya Editorial: This article is written by Tejashree Potdar
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