The Momentum of Electric Vehicles

Is the EV finally coming of age? Should my company car be electric?
Is the infrastructure good enough yet?

Despite fully electric vehicles (EVs) only receiving a lot of media attention in the last few years, EVs have actually been around for a long time, generally achieving very moderate growth year-on-year. However, with the global focus on climate change, both from a legislative angle as well as changes in consumer behaviour, manufacturers are placing more time and investment in developing their electric ranges than ever before.

Roll this forward to 2020 and EVs appear to be one of the very few beneficiaries of the COVID-19 pandemic. Our current ‘new way of life’ lends itself very nicely to what an electric car has to offer – more of us working from home, fewer journeys, shorter journeys etc. This, coupled with the momentum gained in 2019, has led to an increase in market share from 2.2% in September 2019 to 6.7% in September 2020. This is all despite a c.30% reduction in overall car registrations YTD and a fall in oil prices.

Read our article for more about the EV market, the cost benefits for businesses, along with a first-hand case study on the Porsche Taycan.