EV sales can overthrow gas-guzzlers in Europe by 2025, study finds

Efforts by automakers and legislators seem to be paying off, as a new study found that consumers’ transition to all-electric vehicles in the EU and UK is “inevitable.”

The study was conducted by Element Energy and included 14,000 respondents from the UK, France, Italy, Spain, Germany, Poland, and the Netherlands. You know, the countries that make up nearly 80% of the new passenger car registrations across the EU, UK, and EFTA region.

And, folks, the key findings are so optimistic that they’ve really made my day.

So, let’s get cracking.

1. Lower upfront cost will make EVs the most in-demand powertrain from 2025

Interestingly, upfront cost was identified as the most influential factor in consumer powertrain decision, while driving range, running cost, and access to charging came as secondary.

The study found that rapid growth of EVs is the result of the expected reduction in electric vehicle prices over the coming decade, driven by falling production costs of lithium-ion batteries and the introduction of lower specification, more affordable EVs to the market.

Correspondingly, consumer demand for battery electric vehicles (BEVs) is forecast to become greater than that of any other powertrain by 2025. This is projected to reach 50% by 2030, and 80% by 2050.

And with BEVs becoming the new normal, from 2027 no other powertrain is expected to hold more than 20% of the market.