The automotive industry is rapidly evolving in terms of technology, as well as tackling environmental issues. Electric vehicles (EVs) have been introduced as a clean energy initiative, as they have low or zero emissions and have come a long way to becoming an integral part of OEMs’ business strategies. Automakers are creating separate EV business units to be prepared for the expected EV boom in the short term. However, the surge in demand will create a need for huge charging infrastructure and safety regulations and standards.
The United Kingdom is a country that is aggressively pushing the country towards electrification, especially in the automotive and transportation sector. Stringent emission regulations, liberal incentives/subsidies for consumers and manufacturers, high level of localisation, concrete safety standards, and an established technology roadmap are some of the key steps taken by the government to ensure the success of electric vehicles in the near future.
Major OEMs such as Tata-JLR, Volkswagen, and Daimler have announced ambitious sales targets, and are expected to launch a large number of new and constructive electric vehicle models (from city-suited to long-range and powerful ones). Charging infrastructure, which is one of the major factors driving electric vehicle adoption, is also picking up pace, with many new companies entering the market. It has opened up new business models, enabling companies to position themselves either as manufacturers or operators or as a payment gateway.
The study gives a detailed analysis of the current and future prospects of electric vehicle sales in the United Kingdom—by model, by OEM, and by type of vehicle, until 2025. It provides insights into how charging stations have evolved over time and how companies have designed their strategies to establish a profitable supply chain. It also lists the various kinds of investments made in the electric vehicle space, promoting adoption.
Key Issues Addressed
- How much of an impact did government subsidies and incentives have on the sales of electric vehicles from 2010?
- What is the most popular EV type, vehicle model, OEM, and vehicle segment, year-on-year (YoY) and cumulatively?
- What were the market shares for PHEVs, BEVs, FHEVs, and MHEV 48Vs for each year and how has their growth trend been from 2010?
- How are the past and current charging infrastructure scenarios and what can be expected in the near future?
- What are the different incentives for the installation of charging stations in the country?