Electric cars on the withdrawal: Why Germany lags behind!
Electric cars on the withdrawal: Why Germany lags behind!
In 2023, the global market for electric vehicles (EV) recorded significant growth: with 17.4 million newly approved electric cars, the number increased by 17% compared to the previous year, such as Econews reported. This development is reflected in the world's growing stock of electric vehicles, which will be estimated at around 55.8 million at the end of 2024, more than half of them in China.
The Chinese market leads with over 11 million new registrations, followed by the United States, which have around 6.4 million electric cars, and Germany, where only 572,500 electric cars were re-registered in 2023. This decline is strongly in contrast to the aim of seeing a total of 15 million electric cars on German roads by 2030. The total stock of electric cars in Germany is currently around 2,619,000.
challenges and declines in Germany
The number of new registrations in Germany fell by 18% in 2024 compared to the previous year, which is primarily attributed to the expiry of the German environmental bonus for electric vehicles. In this context, Norway and Denmark show a remarkable development: In Norway, over 90% of all new approvals accounted for fully electric or plug-in hybrids, while Denmark amazed with a growth rate of 46%.
In contrast, change to electromobility in Germany has stagnated since the end of the environmental bonus, which illustrates the challenges for domestic automotive manufacturers, in particular the established brands such as VW, BMW and Mercedes. Despite a high sales success at the international level-VW has sold over 4.3 million e-cars-the German industry remains under pressure.
global trends and market changes
Overall, the sales figures for electric cars have increased remarkably worldwide. In 2024, the EU recorded around 2.4 million new registrations, behind China, which had 11.3 million new registrations, and in front of the United States with 1.6 million new registrations. In an international comparison, Chinese manufacturers now cover the entire range of vehicle segments, and under the leading vehicle models there are eight out of ten Chinese origin.
The advancement of new technologies has also influenced the battery economy. Energycomment explains that with over 700 gigawatt hours of battery power, which was installed in e-cars in 2023, an increase to up to 3,000 by 2030 Gigawatt hours is forecast. China dominates battery production, with CATL and BYD as the leading manufacturers, while innovative technologies such as solid batteries appear promising.
Future view for electromobility
At the global level, it is estimated that by 2025 the sales of electric cars could increase by 30% and that the number of vehicles sold would then be 22.3 million. In particular, it is expected that plug-in hybrids (PHEV) could make up 39% of the EVS. The growth can be observed primarily in China, where more than 50% of new registrations for electric cars were for the first time in August 2024.
With only about 4% of the global car fleet, which is currently electrified, there is a significant way to go to the further decarbonization of the transport sector. E-cars are more environmentally friendly in the company, especially when the electricity used comes from renewable energy sources. However, the challenge is to compensate for the high emissions caused by the production by the saved emissions in the company. The path to complete switch to electromobility remains as challenging as it is promising.
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