July 22, 2024

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Volkswagen expects European demand for electric cars to decline due to higher electricity prices |  Economie

Volkswagen expects European demand for electric cars to decline due to higher electricity prices | Economie

To make cars more affordable, the group is looking at cheaper batteries, with alternatives to expensive raw materials like cobalt and nickel. “Alternatives could hit the market as early as 2026,” says Schmoll. “That means smaller batteries, because big batteries in small cars come at a high cost. The average customer drives 40km a day, so why do you need 500km of range?”

In the North American market, the picture is a little different. There, plug-in car sales have increased “a little faster than expected in recent months,” Schmoll said. According to him, this is partly due to the benefits for electric vehicle buyers that have been implemented with the so-called inflationary reduction law in the United States.

The multi-billion dollar stimulus program has angered Europe because it would create unfair competition. It also includes tax benefits for purchasing parts for electric vehicles produced in the United States.

On Tuesday, Schmall announced a charging infrastructure partnership in Italy with a subsidiary of Italian energy company Enel Group. Each will invest 100 million euros to build a freight network of 3,000 stations by 2025.

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