Germany battery electric vehicle market is projected to grow at a CAGR of more than 20% over the forecast period (2019-2025). Germany is one of the leading countries in Europe, where electric vehicle charging infrastructure is developing at a considerable pace, which is a primary factor driving the market growth. Various companies including the New Motion BV, Allego, Ionity, among others are operating substantial number of charging stations.
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Further, the presence of Tesla in the country has given boost to the Germany battery electric vehicle industry. For instance, in December 2020, Tesla expanded the Supercharger site at Westerwaldpark near Oberhonnefeld, Germany by 20 charging stations of the latest generation V3. Further, from 2020, the German government had made it mandatory for all gas station to provide electric vehicle charging point as well which has been a major factor for the increasing adoption of battery electric vehicle in the country.
Further, the rising number of vehicle manufacturers including BMW, Mercedes, AUDI have started launching their top end IC engine models in form of battery electric vehicle as well, which is enticing a lot of consumers in the country. For instance, Audi announced in 2021 that it will launch its first electric SUV named Audi E-Tron with a price of $65,900 for basic model. The model is equipped with 300 kW of motor which produced 402 hp. Hence in coming years a rise in demand for battery electric vehicle is anticipated, which will drive the Germany battery electric vehicle market.
Germany Battery Electric Vehicle Market Report Segment
By Vehicle Type
- Commercial Vehicle
- Passenger Car
- Others
By Battery Type
- NiMH
- Li-ion
- Others
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
