_{^{CHAPTER 1}}
State of
the market

EVs are on the move

Inside this chapter:
- E-mobility enters new phase in Europe
- Charging infrastructure and EV drivers

_{^{STATE OF THE MARKET}}_^|_{^{THE EUROPEAN POLICY LANDSCAPE}}_^|
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I like that ChargePoint is hardware-agnostic and has such a strong focus on software. There’s so much potential in terms of adding feature sets and ways to make use of roaming and charging data to give us more insight into the end driver.”

Jason Simpson
CEO, RAW Charging

E-mobility enters new phase in Europe

European EV sales have been increasing steadily since 2019.

Contrary to what you may have read in the media, the EV market is still growing.² Passenger EVs are now a common sight and come with all the features that were once considered a barrier to adoption. Commercial and municipal vehicles offer fleet operators a way to save money while simultaneously delivering considerable progress towards meeting global climate targets.

Nearly 14 million passenger EVs were sold globally in 2023, up from 10.4 million in 2022, and 3.1 million of these vehicles were sold in Europe*, making it the second largest region for electric vehicles.³

From 2022 to 2023, Europe saw a 15% increase in EV sales, resulting in more than 24% of all vehicles sold in Europe during 2023 being electric.³

Battery electric vehicles (BEVs) accounted for 63% of all European plug-in vehicle sales in 2024 Q1.⁴

Honda saw an increase in EV adoption in the first quarter of 2024, with nearly 20% of all its cars sold in Europe being electric. This is up from a 5% penetration rate in 2023 for the automaker.⁵ This uptick was driven by the United Kingdom and the zero-emission vehicle (ZEV) mandates that went into effect in 2020.⁶

Global EV growth continues to outpace internal combustion engine (ICE) vehicle sales, with more than 30% YOY growth in EVs compared with <5% growth in ICE vehicle sales. BNEF predicts there will be nearly 60 million EVs on the road globally by the end of 2024.⁷

EV sales in the United Kingdom were up 13% in 2024 Q1 compared with 2023 Q1, resulting in 24% of all vehicles sold in the first quarter being electric.⁸

In the United Kingdom, 25% of vehicles sold throughout 2023 were electric, and in 2024 Q1, it became the largest EV market in Europe as it relates to volume of vehicles sold, with over 130,000 EV sales in the quarter.⁹

2, 4, 5, 6, 8, 9 BNEF, Electrified Transport Market Outlook, 2Q 2024
3, 7 BNEF, Long-Term Electric Vehicle Outlook, 2024

*Throughout this report, “Europe” or “European” refers to the 27 countries in the European Union as well as the United Kingdom; “European Union” or “EU” refers to only those 27 countries, exclusive of the United Kingdom.

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1 in 4 vehicles sold in the UK in 2023 was an EV.⁹

Charging infrastructure and new EV drivers keep pace

In this new era, EV adoption has surged, creating a need for greater access to charging infrastructure. More ubiquitous and reliable charging infrastructure has, in turn, given consumers more confidence to go electric, increasing the number of EVs on the road.

Globally, the number of EVs per charging point rose to 10.3.¹⁰ There are over 722,000 public charging points accessible to drivers using the ChargePoint app in Europe, which represents more than 82% of all public chargers in the region.¹¹

The United Kingdom now has 21 electric vehicles on the road for every public connector in the country. This is up by more than 120% compared with 2019 when there were just over nine EVs on the road for every public port.¹²

With twice as many EVs in the UK per public EV charging port than the global average, the time is now to invest in EV charging infrastructure to support this rapid growth.

The good news is the United Kingdom, France and Germany each installed more public charging ports in 2023 compared with 2022.¹²

According to the European Alternative Fuels Observatory (EAFO), there are over 63,000 AC and 13,000 DC public ports, accounting for more than 77,000 total public ports in the United Kingdom at the beginning of July 2024 — an increase of 6% from the end of 2023.

The UK now has 21 EVs on the road for every public connector — up 120% from 2019.¹²

^{10, 12 BNEF, Long-Term Electric Vehicle Outlook, June 2024}

^{11 ChargePoint network, Jan. 2024}

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