Electric cars shaping up as growth pole as recovery builds – GlobalData

Hyundai Motor Group has announced a rise of nearly 58 per cent rise in global electric vehicles sales in the first five months of 2020. The Korean car maker has sold 40,182 units in the period.

David Leggett, automotive analyst at GlobalData, says: “Hyundai’s success reflects strong demand in Europe for recently-launched electric vehicles such as the Hyundai Kona Electric and Ioniq as well as Kia Niro and the Soul EV.

“Before this crisis, we knew that tighter CO2 emissions rules in Europe as well as new model offerings – such as Volkswagen’s ID.3 – would help lift numbers this year.

“In addition, we are now seeing crisis support programmes from national governments that will help to lift electric car sales still further.

“In France, for example, new incentives mean that a Renault Zoe electric car listed with a price tag of €32,000 could be available at just €20,000.

“That kind of purchase price reduction is sure to stimulate demand just as more supply from a range of brands comes on stream.

“Electric cars could also benefit from a wider perception that they are ‘cleaner’ than conventional engine cars, as they can have their batteries charged at home, with no need to visit a gas station or handle a pump.”