Europe’s surging EV market has resulted in plans for 38 battery gigafactories, totalling over 1000gWh of output and almost €40bn in investment.
Yet, weak CO2 standards between 2022 and 2029 give carmakers little incentive to increase the sales of electric cars until 2030. This could result in well over half of the expected output having no market. This is a missed opportunity to boost Europe’s economy and secure thousands of skilled jobs.
A new T&E briefing sets out how targeted support can help middle and low-income households to access EVs.
EPP candidate Tzitzikostas drew a line under the EU electric cars debate, saying supporting industry – not weakening targets – is the way forward.
The fate of Europe’s biggest carmaker depends on how quickly it can switch to electric.