Scoring and Methodology
This year’s Mobility Guide scores a total of 47 countries based on three levels of EV maturity: Developed, Transitioning, and Emerging. To determine these levels, a scoring methodology was applied, addressing six core factors and hurdles when transitioning to an electrified fleet, to provide an overall country maturity score on a scale from 0 to 100:
- EV adoption
- Charging infrastructure
- Taxation and regulation
- Green powertrain offering
- Sustainability relevance
- BEV-TCO parity vs internal combustion model equivalent comparison
An overview and assessment of local taxation framework and regulatory requirements for electric vehicles were also compiled for 37 countries.
Key Findings and Global Trends
Electrification Progress and Leadership
Electrification is progressing, with Western and Northern Europe leading the way. The most advanced countries in terms of facilitating electric vehicle adoption are Norway (82/100), the Netherlands (80/100), and Finland (74/100). Thirteen European countries now fall into the “Developed” category, up from eleven in 2023, reflecting broader EV adoption and a wide range of available EV powertrains. New geographical areas, such as Southern and Eastern Europe and Thailand (43/100), are also actively contributing to electric vehicle market growth through greater adoption and developing charging infrastructure.
Expansion of EV Models and Charging Infrastructure
A wider range of EV models and growing charging infrastructure is fostering adoption. Twenty countries analysed now offer more than 100 different BEV models. The EV market has seen a surge in new models, such as the Citroen eC3, Renault 5, Volvo EX30, Kia EV3, Lancia Y, and Alfa Junior, catering to a broader and more diversified customer base with differing requirements and budgets.
Charging infrastructure continues to vary across countries. The Netherlands ranks as the most mature country in terms of charging infrastructure with a score of 17/20, followed by Norway (15/20), and Austria (16/20). However, countries like Australia (4/20), Ireland (5/20), and Poland (5/20) face challenges as their infrastructure development struggles to keep pace with the rapid adoption of EVs. The European Alternative Fuels Infrastructure Regulation (AFIR) has bolstered the expansion of charging infrastructures by mandating member states to install charging points at regular intervals on major highways.
Total Cost of Ownership (TCO) Trends
The report highlights a reversal in the BEV TCO downward trend in some EU markets from 2023 onwards. BEV TCO remains competitive in 13 European countries but has deteriorated compared to internal combustion engine (ICE) vehicles in some markets. In France, Sweden, and Spain, TCO is now higher for BEVs than ICEs due to the end of government subsidies or rising energy costs. Conversely, in the UK and Austria, BEV TCO is now back at simple parity with ICE vehicles.
Challenges and Market Dynamics
Despite the market’s maturation, EV adoption continues to face multiple challenges such as price volatility, evolving TCO, geopolitical trade tensions, fragmented and changing regulations, changes in subsidies, new taxation rules, and general market conditions. These factors continue to shape the EV ecosystem, making it a non-linear and complex journey towards full electrification.
Regulatory Impact and Market Penetration
The expansion of charging infrastructures has been significantly bolstered by the European Alternative Fuels Infrastructure Regulation (AFIR), which mandates member states to install charging points at regular intervals on major highways. This regulatory push, coupled with the commitment of private companies and governments, is set to further accelerate EV adoption. Chinese original equipment manufacturers (OEMs) have made notable progress in penetrating the European market, growing from 6% in 2022 to 7% in 2023 in terms of yearly registrations. Some Chinese OEMs are also considering establishing production facilities in Europe to ensure future readiness and potentially circumvent changes in import tariffs.
Conclusion
The Ayvens Mobility Guide 2024 provides a nuanced and holistic approach to the electrification landscape, empowering fleet managers with insights and solutions for a successful transition to sustainable mobility. As the electric vehicle market continues to evolve, this guide serves as a crucial tool for navigating the complexities of the global sustainable mobility landscape. The insights from this report underscore the importance of continued investment in EV infrastructure, supportive regulations, and the diversification of EV models to meet the diverse needs of the global market.
