These are the six keys to the takeoff of electric car sales

The sales figures of electric vehicles grow year by year and exponentially, There’s no doubt. Some time ago, those who reneged on this type of technology could argue (and rightly so) that they still represented a very small piece of the pie.

In other words, even if sales rose, the number of electric cars sold and their market share was very small. Today, this is starting to change and we can no longer speak of testimonial figures.

According to figures published in the latest study from EY companyin 2022 13% of cars sold worldwide were pure electricwith a 55% increase Over the previous year. In total, adding electric and hybrid cars, more than 10.5 million cars were counted.

In Europefor example, record figures were reached, with a 12% market share, slightly below the world average, with a growth of “only” 28%. If we look at Spainthe market share is considerably lower: only 4.8% of the cars registered in 2022 were of electric technology, but with a growth of 31.1%.

The forecasts of this study, however, point to a growth of 38% for this 2023, reaching 14.5 million electric and hybrid vehicles worldwide. By the end of the decade, 2030already very close to the point of “no return” in Europe in 2035, are expected to represent more than half of sales (55%). In this sense, these forecasts should be accompanied by growth in Europe of 74%, far from the percentages obtained in the last year.

The 6 keys for the electric car to take off

The study with the same name, prepared by EY, outlines six guidelines that should be followed for these forecasts to come true. Some keys that must be supported in the current context and that must continue to grow, such as the increased environmental awareness of buyersthe increase in the variety of electric models and the more favorable regulatory environment for this purchase.

Another study, the Mobility Consumer Index 2022, says that 52% of future car buyers will opt for an electric or hybrid vehicle. In this sense, these should be followed six guidelines to achieve the objectives and to break the current barriers of the electric car, such as the scarcity of charging points, autonomy and prices:

1. Access to a charging infrastructure: As we said, it is vital to “implement a publicly accessible charging network for all future users.” The EY study estimates that Europe will need 2.8 million public charging points and 2.4 private charging points by 2030, something that would mean installing 13,000 charging points every week to achieve this.
2. Clean energy: the development and deployment of renewables must be ensured to decarbonise mobility in all its processes. The study reveals that only 3% of the transport sector uses renewable energy. To reverse the situation, “permits must be expedited and flexible markets developed.”
3. Supply Chain Resilience: it is necessary to “invest in the optimization and autonomy of the electric vehicle production chain”. Reducing the independence of China in Europe and the US must be a key factor in putting aside the obstacles, interruptions and limitations in the supply chain of recent years as far as cars and, above all, batteries are concerned.
4. Smart power grid: it is important to “modernize and increase the security of the supply network through the integration of vehicles”. As more charging stations are created, demand will grow, so important measures must be taken. The study proposes, for example, “establishing schedules to encourage charging at times of lower demand, bidirectional charging or improving V2G (vehicle-to-grid) technology.”
5. Digitization: Hand in hand with all of the above, “smart mobility services must be improved based on the data generated by vehicles and stations”. The treatment and regulation of the data will generate an ecosystem that will allow the vehicles to be connected with the recharging points and to be able to provide information on the needs of both, which in turn will favor the “increase in customer confidence and the acceptance of the electric vehicles”.
6. Talent management: the transition to electric vehicles will create more jobs than it will destroy, so there is a need to “get a workforce with the necessary qualifications and skills”. According to the study, around 1.1 million jobs are expected to be created in Europe alone, so it will be necessary to “attract, retain and train qualified personnel”. Otherwise, “production lines and vehicle availability will be affected.”