Plans for the electric vehicle market in Europe have changed. The European Automotive Manufacturers’ Association (ACEA) has revised its market share targets for 2025 significantly, lowering the electric vehicle target from 27% at the beginning of the year to 21%. So why is Europe struggling to reach the target? Details in our news…
The European Automotive Industry is struggling to reach the target for electric vehicles: 2025 targets reduced from 27% to 21
The revision by the European Automobile Manufacturers’ Association (ACEA) makes it harder for the European Union to meet its environmental sustainability and carbon emission targets, while low demand for electric vehicles continues to significantly impact automakers and their eco-friendly conversion targets.
ACEA states that this decline is due to many factors. In particular, inadequate charging infrastructure and lack of government incentives are key factors slowing the adoption of electric vehicles. Incentive policies that support the spread of electric vehicles are not strong enough and insufficient charging stations have significantly delayed the transition of users to electric vehicles.
In addition, while manufacturers face such challenges, compliance costs in electric vehicle production have also increased. High compliance costs put a financial strain on automakers and make meeting environmental targets even more complicated. ACEA called on EU authorities to create a stronger infrastructure and incentives for the growth of the electric vehicle market.
Much of these costs are beyond the control of manufacturers, the association said, so the EU must take stronger action to meet environmental targets. According to reports, it is crucial to overcome these infrastructural and financial challenges in the coming years in order for Europe to achieve its environmental goals and for electric vehicles to reach a wider audience.
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