Leaders of the pack
As combustion vehicle sales & production took a nose-dive during the pandemic, EVs have boomed year-on-year. Until 2020, the big 3 movers in EV stock were China, Europe and the USA — with Europe now leading the pack in new EV registrations. Statistics for 2021 are still pending but expect exponential growth!
But what’s the story with electric light commercial vehicles? Obviously, ELCVs are much more interesting for businesses in delivery & last mile service sectors — and those making the move to fleet EV transition.
So, who’s leading the race?
Incentive subsidies in Germany
– an EV kingmaker?
EV sales continue to soar globally — exponentially in fact. But with a total market share of just over 1% (reports for 2021 still pending), there’s still a long road ahead. In people’s minds (and budgets), transitioning to EVs is still just too expensive. One obvious incentive to promote EV adoption is government subsidy.
This is a major driver for the rise in EV sales in Germany — currently at over 13.5% market share — and is proving to be the best way forward from a consumer standpoint. In fact, currently, Germany has the highest EV incentives in Europe. Thanks to a Greens Economy and Climate Ministry, motivating subsidies will rise again and remain through to 2025. If other governments would follow suit, this could be the kingmaker EV transformation needs.
Right now, making the switch to battery electric vehicles (BEVs) under €40,000 will save you up to €9,000 in Germany. Variations for other models & pricing (Like eLCVs) ranging to €65,000 can get subsidies up to €7,500.
Of course, there are many details & requirements needed to navigate the subsidy nitty-gritty…
As it happens, PANION has expert guidance to help you navigate subsidies for electrifying fleets. We’re happy to meet you!