Key Market Indicators
Germany's electric vehicle (EV) registrations are projected to surge to approximately 2.6 million units by 2028, up from around 1.2 million units in 2023. This marks an average annual growth rate of 11.3%. The German market has demonstrated remarkable expansion, with a year-on-year growth rate of 78.6% since 2019. This rapid increase underscores Germany's significant push towards electric mobility. In the broader European context, Sweden, Italy, and the Netherlands follow Germany, ranking second, third, and fourth respectively in terms of EV registrations. These countries are also showing robust growth in their adoption of electric vehicles.