#1 most loved electric vehicle, solar, & battery news & analysis site in the world. Support our work today!


Batteries

Published on June 24th, 2020 | by Zachary Shahan

0

19× More Invested In EVs & EV Batteries In Europe Last Year Than In 2018

June 24th, 2020 by  


According to a Transport & Environment report, Europe poured €60 billion into EV production and EV battery production in 2019, a whopping 19 times more money than it put into them in 2018.

If those figures aren’t shocking enough, the following may do the trick: 3.5 times more money was put into EVs and EV batteries by corporations and governments in Europe than in China! Europe is the new China.

You can already see some of the results of that. EV market share has been skyrocketing in Europe. From January through May, EV market share was 7.2% in the UK7.6% in Germany9.2% in France12% in the Netherlands, and 56% in Norway.

The report expects the 2019 trend to continue in 2020 as part of European countries’ covid-19 recovery plans.

A whopping two-thirds of the European investments were in Germany (€40 billion), in large part due to Volkswagen Group’s shift and the large corporation ramping up production capacity. The Czech Republic, where Volkswagen Group also has production facilities (recall that it owns SEAT), absorbed €6.6 billion of the €60 billion investment, more than 10%. The only other country with more than approximately €1 billion invested was Italy, with €1.75 billion in investments from Fiat.

A large part of this large influx in e-mobility investments is thanks, very simply, to policy. Saul Lopez, e-mobility manager at T&E, noted:

“A few years ago Europe was nowhere in the race for EV supremacy. But EU CO2 targets concentrated carmakers and governments’ minds to invest €60 billion in electric cars and batteries and finally close the gap with China. Success in this market is now Europe’s industrial policy, and lawmakers should double-down with stimulus measures that will also drive a green recovery.”

On the battery side, CATL invested €1.8 billion in Germany, Northvolt invested €1 billion in Sweden, and SAFT invested €200 million in France.

Apart from Volkswagen Group, the second largest automaker investment was Tesla investing €4 billion into Germany, where it has been building its 3rd automotive gigafactory (the 1st is in Nevada and the 2nd is in Shanghai, China).

The only automaker other than Volkswagen, Tesla, and Fiat to invest more than €1 billion in Europe in 2019 was Jaguar Land Rover, at €1.2 billion, in the UK.

What do you think 2020 will bring?

Both graphics courtesy Transport & Environment 
 


 


Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica member, supporter, or ambassador — or a patron on Patreon.

Sign up for our free daily newsletter or weekly newsletter to never miss a story.

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.


Latest Cleantech Talk Episode


Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,


About the Author

is tryin' to help society help itself one word at a time. He spends most of his time here on CleanTechnica as its director, chief editor, and CEO. Zach is recognized globally as an electric vehicle, solar energy, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, Canada, and Curaçao. Zach has long-term investments in NIO [NIO], Tesla [TSLA], and Xpeng [XPEV]. But he does not offer (explicitly or implicitly) investment advice of any sort.



Back to Top ↑