Energy

Buildings will Play Crucial Role in Growth of EU Electric Vehicle Market

The electric vehicle (EV) market has experienced exponential growth in recent years and expects even faster growth in coming years as markets aim for close to 100% EV penetration in the medium term. EV sales as a share of total vehicle sales has tripled in just three years, from 4% in 2020 to 14% in 2022, according to the IEA, and EV sales in the first quarter of 2023 are 25% higher than the same period last year. However, to maintain this pace, we must also develop the charging infrastructure necessary for this new world of electric vehicles. Data shows that EV market penetration is directly linked to the availability of charging infrastructure, with China leading the world on both fronts, making up eight million of the 14 million EVs sold in 2022. Europe is in second place with less than half that amount (3.4 million) but is now taking strides to close the gap […]

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