European Electromobility Prospects for 2025: Could Renault and Stellantis Be Key Players?
The European automotive industry is gearing up for a new phase of growth, driven by the introduction of affordable electric vehicles (EVs) aimed at meeting stringent CO2 emission targets set by the European Union by 2025.
According to a report by Transport & Environment (T&E), both Renault and Stellantis are expected to play a crucial role in this shift. The Renault-Nissan-Mitsubishi consortium could capture a 17% share of electric car sales by 2025, leading to a 68% reduction in CO2 emissions. Stellantis, on the other hand, is projected to capture an 18% share of the EV market with the production of new models like the Opel Frontera and Alfa Romeo Stelvio, and increased hybrid offerings.
By 2025, up to seven electric models priced under 25,000 euros are expected to be available. Stellantis has already launched the Fiat Grande Panda and the Citroën e-C3, priced under 25,000 euros and 19,990 euros respectively. Renault plans to launch affordable models like the Renault R5, Renault R4, revamped Dacia Spring, and Renault Megane electric.
Brands like Hyundai, Kia, and Volkswagen also have plans to introduce low-cost electric cars in the coming years. GlobalData predicts that BMW could achieve a 48% reduction in CO2 emissions due to the growth of its electric models like the iX1, iX3, i5 BEV, and Mini Aceman, enabling it to reach 25% of electric vehicle sales by 2025.
The BEV market could reach up to 2.8 million units by 2025, equivalent to ten to 15% of the battery electric vehicle market. This growth is expected due to manufacturers being forced to offer more affordable options to meet the new 2025 targets set by the EU.
A YouGov study for T&E showed that 35% of new car buyers would opt for an electric vehicle if the price was below 25,000 euros. This shift towards affordable EVs is a significant step towards reducing CO2 emissions and promoting a more sustainable future for the automotive industry.
However, not all manufacturers are embracing these regulations without resistance. Some have already requested more flexibility in implementing these regulations, arguing that the imposed targets might be too stringent, a stance aimed at easing pressure on their margins and continuing to prioritize profits.
By 2030, BMW aims to reduce the carbon footprint per vehicle by 80% in production, 50% in the use phase, and over 20% in the supply chain compared to the 2019 reference year. This ambitious goal, along with the growing trend of affordable EVs, suggests a promising future for the European automotive industry.
In conclusion, the European automotive industry is on the brink of a new era, with affordable electric vehicles set to drive its growth by 2025. As manufacturers continue to innovate and consumers embrace these new, sustainable options, the future looks bright for a greener, more sustainable automotive industry.
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