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Electric Vehicles Market
While the market share of vehicles powered by alternative fuels is still marginal, hybrid electric vehicles (HEVs) as well as battery electric vehicles (BEVs) constitute the fastest growing vehicles segment in Germany. On January 1, 2018, registrations of alternative fuel passenger vehicles were as follows: LPG=421,283; CNG= 75,459; BEVs=53,861; HEVs=236,710 (of which 44,4129 plug-in hybrids). In 2017, registrations of BEVs grew by 120%, HEVs were up 176% compared to 2016.
Significant growth of the electric vehicles segment is expected for the years ahead, driven also by strict enforcement of EU legislation intending to limit CO2 and NOx emission from transportation across the EU. So far, deployment of EVs was limited by various factors, including the following (non-comprehensive): (1) a strong focus on conventional combustion engines from both public (subsidies) and private sector (large investments in R&D and manufacturing); (2) slow adaptation and lack of commitment from large OEMs to offer compelling and competitive
EV models; (3) shortage of charging infrastructure and absence of interoperability (4) as well as lack of consumer acceptance.
The path towards mass deployment of EVs and related infrastructure is now gaining speed and momentum, as OEMs are increasingly under pressure to meet strict emission limits for vehicle fleets sold in the EU (as well as EV quotas in key markets such as China), as well as decreasing global Diesel demand and sales. As a result, German OEMs have significantly increased investments in new vehicle developments (EVs, HEVs) as well as public charging infrastructure. Today, German OEMs are highly committed to develop and deploy compelling and competitive EVs and have made significant investments in new designs and EV platforms, new suppliers (especially battery cell manufacturers), and the preparation and expansion of manufacturing plants for the shift to mass production of EVs. All German OEMs have announced a large roll-out of new EV models between 2019-2025 and ramp-up of manufacturing capabilities.
Demand for light commercial electric vehicles as well as electric busses is currently also growing significantly, but at the same time still severely limited by the supply. Demand is mainly driven by EU
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