EBA Academy Europe's Future is Electric
Nov 16, 2021

Electric Vehicles are more affordable than ever across Europe

LeasePlan has recently released the 2021 Car Cost Index. Results prove again that EVs already have a Total Cost of Ownership lower than ICEs in most European markets, not least in some of the largest ones.

One of the top critical barriers for adoption of EVs has always been the cost. An updated study from LeasePlan finds that EVs are cost competitive in most countries in Europe, including largest ones, and in all segments of the market. Still, there is a clear differentiation between Eastern and Western Europe, suggesting that incentive programmes are much weaker in the Eastern part of Europe. A follow-up release focusing on Sweden, a country with high penetration of EVs, suggests that the lack of charging infrastructure is an increasing barrier for EV penetration. This underlines the need to accelerate the build-out of charging infrastructure, as pointed out on many occasions in previous news posts.

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