Electric cars: The promise of technology for 2024
During the first quarter of this year, the one millionth fully electric cars will be on the roads in the UK, according to Schmidt Automotive Research. The United Kingdom will thus become the second market, after Germany, to reach this milestone.
However, despite this achievement, 2024 is expected to be a challenging year for electric vehicle (EV) manufacturers. By the end of 2023, Ford, GM, and Tesla had halted their plans to expand their electric vehicle production. In October, Mercedes-Benz described the EV market as “brutal,” attributing it to price wars and supply chain issues.
Analysts do not anticipate a significant improvement in the situation. Matthias Schmidt, an automotive market analyst, predicts a year of stagnation for electric vehicle sales in Europe in 2024. In traditionally strong markets such as Germany and Norway, he sees virtually no growth.
However, in the UK, a little over a fifth of vehicles sold are expected to be electric. The goal is to reach 80% by 2030. This could be excellent news for those who can afford an electric vehicle.
