The European Automobile Manufacturers’ Association (ACEA) recently published a report that highlights a significant gap between the current availability of public charging points for electric cars in the EU and what is likely to be required to meet CO2-reduction targets. According to the report, EU electric car sales grew three times faster than charging point installation between 2017 and 2023 and it’s estimated around eight times more charging points will be required annually by 2030 to keep pace with demand.
ACEA’s Director General, Sigrid de Vries, was quoted as saying: “We need mass-market adoption of electric cars in all EU countries to achieve Europe’s ambitious CO2-reduction targets. This will not happen without widespread availability of public charging infrastructure right across the region” and is concerned that “infrastructure rollout has not kept pace with battery-electric car sales in recent years”. A little over 150,000 public charging points were installed last year across the EU, now totalling just 630,000. The report recommends 3.5 million charging points should be installed by 2030, requiring around 400,000 public charging points to be installed per year.
Earlier in the month, Swiss authorities announced that it will adopt European CO2 emission laws, from 2025, based on average emissions target values. The market is well on the way to achieve the targets set, as market share to date for non-combustion engine vehicles stands at the 60% mark.
As announced previously, Croatian authorities have now released information on its EV incentivisation program, with a EUR 15 million budget set aside for subsidies. Additionally, the ‘Eco’ bonus for the Italian market as reported last month has been confirmed with a support package of EUR 950 million, although details of the start date have not yet been advised.
Hyundai Motor Company and Kia Corporation have recently signed a Memorandum Of Understanding (MOU) with Exide Energy Solutions Ltd. for its strategic cooperation in India's EV market. The partnership enables Hyundai Motor and Kia to equip future EVs in the market with locally-produced LFP batteries. This strategic collaboration marks the beginning of Hyundai Motor and Kia's expansion in India's battery development and production market.
Kia has also released initial details on its first-ever pickup truck, the Tasman. The diesel engine model is scheduled to be released in 2025 and is mainly targeting the Australian market. Kia plans to roll out the Tasman more broadly across three key markets including its home base in Korea, Australia and the Middle East by 2025.
EP Manufacturing (EPMB) has announced it has signed a ten-year vehicle assembly agreement with BAIC International Development, which is a subsidiary of BAIC Motor. Under the terms of the agreement, EPMB via its subsidiary, PEPS-JV Melaka (PJVM), will assemble and produce (CKD) BAIC vehicles in Malaysia. The initial models slated for production include the BJ40 Plus and X55II SUVs, both of which are scheduled to debut in 2025 and will be produced at EPMB’s upcoming automotive plant in Melaka that will have a production capacity of 30,000 units annually.
Honda Taiwan have said they will take 20% off all repair or maintenance costs for customers due to the country’s earthquake disaster earlier this year, although details of how long the offer will continue until have not been specified. It is also widely expected many other manufacturers will follow suit to support those affected.
Honda announced earlier this month that it will invest BRR 4.2 billion in the operation of automobiles in Brazil from 2024. The investment cycle will finance the production of a new model at facility within the São Paulo area. It is expected to be the new WR-V, already launched in Japan. Built on the City platform, the model will compete with Fiat’s Pulse and Renault’s Kardian.
Chinese automaker GWM is expected to qualify for the Green Mobility and Innovation (Mover) program by the end of this month. According to the company's Director of Institutional and Government Relations, Ricardo Bastos, the company is finalizing the alignment with the headquarters of the production and development project in the country. GMW will invest BRR 10 billion by 2032 and, according to Bastos, the first BRR 4 billion that will be invested in the operationalization of the Brazilian plant has already been validated with the headquarters.
Mexico's government has confirmed it will not grant incentives to Chinese automakers that decide to invest in the country. According to reports, high-ranking government officials said that incentives like those in the past will not be granted, even to companies that invest in the country.
Honda will build an integrated EV battery supply chain in Canada from the ground up with a series of investments in Ontario worth a combined CAD 15 billion. The automaker at an event on April 25 confirmed the long-rumoured plans that it will greatly expand its Canadian footprint at its manufacturing campus in Alliston, Ontario.