European countries support electric vehicle industry heavily

June 13, 2020

Under the policy of combination of rewards and punishments, the increment expectation of European new energy vehicle market is optimistic. Europe has become the largest new energy vehicle market outside China, and its power battery industry will bring a certain impact on the global power battery industry pattern of China, Japan and South Korea.

Since January 1, 2020, the EU has implemented stricter carbon emission standards for motor vehicles. The carbon emission targets for 2020 / 2025 / 2030 are 95 / 81 / 59G / km respectively. For the non-standard vehicle enterprises, each vehicle emissions exceeding 1g will be fined 95 euros. Under this strict standard, most of the fuel vehicles in the EU market are over the standard. In order to avoid huge fines, it is imperative to vigorously develop new energy vehicles!

According to the calculation of Guotai Junan power new energy team, in order to completely avoid fines, the sales volume of electric vehicles in the EU must reach 1.87 million in 2020 (a year-on-year increase of 290%), otherwise, for every 100000 vehicles reduced, a fine of about 1 billion euros will be paid – equivalent to the implied carbon emission value of each electric vehicle of 10000 euros, an astonishing number.

According to the data, 560000 electric passenger vehicles will be sold in the European market in 2019, accounting for 27% of the global market. In the first quarter of 2020, the European new energy vehicle market as a whole has shown a high-speed growth trend. Although the sales volume in April was severely damaged by the epidemic, since May, the new energy vehicle market has recovered significantly. Relevant statistics show that from January to may 2020, the total sales volume of new energy vehicles in Germany is the largest, reaching 74980, with a year-on-year growth of 92%; the second is France, with a total sales volume of 44252, with a year-on-year growth of 91%.

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