ChargeUp Europe Board: The EV outlook today
The Board of ChargeUp Europe, the voice of the EV charging infrastructure industry, met on October 1, and discussed the EV outlook.
The Board is of the view that:
The current slowdown in EV sales in Europe is a bump in the road and does not change the direction of travel. This bump is temporary in nature, driven by slowdown in select markets. Exempting the German market, EV sales grew by 9% in H12024.
The EV charging industry continues to invest heavily in expanding both public and private charging infrastructure. We anticipate that EV charging infrastructure deployment will outpace EV uptake in 2024.
Electric drivetrains are the superior technology and highly energy efficient. There is no better technology to provide an excellent automotive experience and reduce emissions in the light duty vehicle parc.
Policy stability and predictability drives investments decisions. Legal certainty, including the 2035 phaseout of tailpipe emissions, is critical and must be preserved.
The answer to the current sales slump is not to shield Europe from competition, but to increase volumes. Measures that support improved EV volumes – together with the development of a broader offer of makes and models of EVs at different price points to serve more, varied customers - will allow EU carmakers to scale, strengthening them against their foreign competitors.
E-mobility is an economic opportunity for Europe. In 2023, already 50 000 people were working in the EV charging sector alone, up from 13 000 in 2019 – and more jobs will be created in the future. ChargeUp Europe will unveil additional macroeconomic data on 15/10 showing the value and job creation in the sector for the next decade.
Transport electrification remains a dynamic and innovative sector. Our companies are full of people bringing innovative and seamless solutions and improving customer experience. The electrified transportation system is taking shape in front of our eyes, and we’re excited to keep working on it.
Download and read the full statement from the Board here.