UK now top EV market in Europe

With global demand for electric vehicles (EVs) set for a record-breaking year, it’s no surprise the UK is leading the way for EV adoption in Europe. According to the recent Annual Electric Vehicle Outlook report, at 22 million, nearly one in four vehicles sold globally this year will be electric – up 25% from 2024.

Production and infrastructure driving the charge

Arguably, the adoption of EVs is taking hold quicker than expected in Britain, with the cost of lithium-ion batteries falling and more affordable models reaching the market. Clearly, infrastructure has also had an influence on consumer confidence, with business and government investments making charge points ever more accessible while wait times are reduced.

Barriers to adoption remain

China remains the only country where EVs are on average cheaper to buy than comparable ICE (internal combustion engine) vehicles. Another major hurdle is the cost of public charging. While the majority of EV drivers are today heavily reliant on home charging, which is typically 25% – 60% cheaper than petrol on a per-mile-driven basis, public charging costs remain high – especially fast charging prices, which have risen sharply in Europe since 2022, in some cases pushing costs higher per mile than diesel.

Positive projections for fleets

As Fleet Managers look towards EV adoption, ensuring operations and services are not negatively impacted is essential; charging costs and wait times will no doubt continue to pose a significant question. However, EV fleets are expected to surpass the size of ICE fleets in many countries over the coming decades. Norway is projected to reach this milestone in 2030, followed by China in 2033, California in 2037 and Germany in 2039.

Advanced tools, renewable fuels & carbon offsetting

Whether transitioning to more sustainable fuels, mitigating emissions through carbon offsetting, or benefitting from our advanced fleet management tools, we are working hard to help our customers achieve their goals.

To find out more about fuel cards offering EV charging plus details about our fleet management and carbon offsetting solutions, contact us on 01454 333022 or email us at priority@silvey.co.uk

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