Sweden ranks highly when Ernst & Young publishes their annual report mapping the world’s most important automotive markets based on the introduction of electric cars. The index is based on supply, demand and regulations.
In the report, Sweden is ranked fourth. First is China, which is seeing a rapid increase in electric cars, but is being driven forward by large investments in battery technology and manufacturing. Norway, the fastest-growing country in electric cars, is firmly in second place with a high proportion of electric cars at 81 percent of vehicle registrations.
In this year’s edition, the United States ranked third, pushing Sweden down one spot from last year’s report. On the other hand, the US rose from seventh place. The increase is due to clear investments in electric cars and battery production, which provide better range. Clear incentives are behind the rise. The U.S. accounts for 11 percent of global electric car production, far behind China, which accounts for 55 percent.
The Swedish ranking in fourth place is a result of our manufacturing investments, investments in technology and the high percentage of registered electric cars. Fifth place goes to Great Britain, where the country has clear ambitions to phase out sales of cars with internal combustion engines as early as 2030. This is five years ahead of the EU.
Clear management makes decisions easier
– Strong regulations to stimulate demand in China and Norway, local battery production and a clear strong infrastructure plan are decisive factors in helping countries successfully transition to electric cars, says EY analyst Randy Miller.
– Now that demand is strong enough in most countries in the study, car manufacturers and authorities are now accelerating efforts to expand electric car production, investment and incentives, Randy Miller continues.
For example, Randy Miller highlights America, which quickly rose up the list. With large investments in electric cars and manufacturing, the level of innovation by companies is high; And with clear support from the country’s politics.
“This business approach is supported by friendly government regulation, providing a holistic approach to preparing America for an electric future,” said Randy Miller.
The demand for electric cars continues to grow globally. Factors such as an expanded range of EVs with decent performance, rapid rollout of charging infrastructure and reduced concerns about range anxiety are driving sales.
EY’s conclusion in the study is that many of the countries that now top the list could accelerate growth even further. This is through clear long-term goals and strategies from a political perspective. This, in turn, could provide protection to car and battery manufacturers, which would have even greater consequences on a global scale.
Here are the countries that topped the index:
- South Korea
“Passionate beer ninja. Extreme problem solver. Thinker. Professional web fan. Avid communicator. Hardcore troublemaker.”