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.
T&E's reaction to Ursula von de Leyen’s election as European Commission president for a second five-year term
EU EV sales continued to grow but not in Germany
In the whole EU, the number of BEVs sold grew by just 1.3% but excluding Germany the increase was 9.4%
The auto industry can become a lead market for low-carbon steel production in Europe if lawmakers set content requirements.