Europe is the slowest region of growth for electric vehicle (EV) sales so far this year, Rho Motion, on the electric vehicle
Europe is the slowest region of growth for electric vehicle sales so far this year, Rho Motion, the leading research house focused on the electric vehicle market, revealed today in their half yearly update.
Iola Hughes, Head of Research at Rho Motion, said: “Amongst so much battery market negativity, the real upside of the year is the stationary storage market which is growing faster than the EV battery market. This is due to the frequency and size of projects entering operation increasing as more markets open themselves up to storage. The battery market is on track to surpass the 1.2TWh mark by the end of the year across all end-uses.
In the EV market in the first half of 2024 has grown by 20% globally and yet regional growth in Europe has slowed considerably down to 1%. Meanwhile in China there was a 30% year on year increase in EV sales and 10% in North America.
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