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Currents of change: Battery EVs surpass diesel for first time in EU

·Anan Ashraf for Benzinga

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The market share of battery electric vehicles in the European Union reached a significant milestone in June, surpassing diesel for the first time at 15.1%, according to data from the EAMA.

Looking at the market share of battery electric vehicles in the European Union using data from the European Automobile Manufacturers' Association, Benzinga found that gasoline remained the most popular choice among auto buyers, followed by hybrid-electric cars. Overall car registrations in the European Union exceeded 1 million units for the month.

Battery electric vehicle registrations saw a significant increase in the largest markets, including the Netherlands, Germany, and France, with a 66.2% rise, reaching 158,252 units in June. In the first half of the year, a total of 703,586 battery-electric vehicles were sold.

A woman is charging her black Tesla EV sedan.

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Tesla leads in EV growth

Among individual players, Tesla recorded the highest growth, with a remarkable 168% jump in vehicle registrations in June, totaling 34,824 units. Volkswagen remained the most popular automaker in the European Union, with over 273,000 vehicles registered, closely followed by Stellantis NV with approximately 189,000 vehicles registered.

The European Parliament approved a new law in February banning the sale of petrol and diesel vehicles starting in 2035. The legislation is part of a broader effort to combat climate change and accelerate the transition to electric vehicles. 

However, some countries, including Germany and Italy, are seeking to water down the legislation due to the presence of major legacy automakers like Volkswagen, Mercedes-Benz, Fiat, and Ferrari in their regions.

This story was produced by Benzinga and reviewed and distributed by Stacker Media.

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