With over 110,000 e-cars sold in 2019, Germany is the third largest market worldwide and the largest in Europe in absolute figures. However, with a market share of 2.8% for e-cars, Germany is only in the European average – here, Norway with almost 45% market share, Iceland (22%) and the Netherlands (13%) are the world leaders. The choice of models is also particularly large in Europe: after China with almost 170 available e-car models, Germany already follows with over 80 models. Six other European countries follow in third to eighth place.
Tesla maintains pole position
Tesla is extending its lead as the leading e-car manufacturer worldwide: in 2019, the company sold 368,000 vehicles - 300,000 of which alone were Model 3, by far the world's best-selling e-car. With BMW (133,000 e-cars sold) and VW (85,000), two German brands are in the top 10, with compact cars (44% market share) and SUVs (30%) being particularly popular with customers. In addition, the trend towards pure battery electric vehicles (BEVs) is continuing: 74% of all e-vehicles sold in 2019 were BEVs, while plug-in hybrids only achieved a 26% market share.
The manufacturers' model offensive is now in full swing, says Patrick Schaufuss, junior partner at McKinsey and author of the analysis. By 2024, the industry has announced 600 new e-car models worldwide: Chinese carmakers lead the way with 169 models, followed by Japan (145) and Germany (102). The focus is on the medium and large vehicle segment. According to expert estimates, the share of German manufacturers in global e-car production will rise from 18% last year to 29% in 2024. This means that with over 1.7 million e-vehicles produced, Germany could become the global market leader for e-cars as early as 2021 - just ahead of China.
Parallel to the model announcements, the manufacturers have also ramped up battery capacities. By 2025, up to 1,000 GWh of production capacity is expected to be created, with the lion’s share of this in China (up to 610 GWh), Europe (up to 290 GWh) and the USA (150 GWh). As in the vehicle market, Europe is the most dynamic, with an annual growth rate of up to 47%.