France Electric Vehicle Market Overview, 2027

"France has been making investments in renewable energy sources to lessen its dependency on fossil fuels and cut carbon emissions. Electric vehicles are seen as an important part of the solution, as they produce zero tailpipe emissions and help reduce air pollution. Various cities in France have implemented their own initiatives to promote electric mobility. For instance, Paris has implemented measures to improve air quality, such as restricting certain vehicles in the city centre and creating low-emission zones. Additionally, some cities provide incentives like dedicated parking spaces and discounted charging rates for electric vehicle owners. France hosts various events and gatherings focused on electric mobility, providing opportunities for EV enthusiasts and owners to connect, share experiences, and learn about the latest advancements in electric vehicles. These events help foster a sense of community among electric vehicle owners. Additionally, France offers picturesque landscapes and renowned tourist destinations, making it an attractive country for EV travel. EV-friendly accommodations, charging infrastructure along popular travel routes, and scenic charging spots encourage EV owners to explore the country in their electric vehicles. According to the research report ""France Electric Market Overview, 2027,"" published by Bonafide Research, the French electric market was valued at above USD 3.96 billion in 2021. In France, passenger electric vehicles (EVs) are more commonly used compared to commercial EVs. Passenger EVs, including compact cars, sedans, hatchbacks, and SUVs, are popular choices among consumers in France. These vehicles cater to everyday commuting needs, family transportation, and personal use. They offer the benefits of zero-emission driving, lower operating costs, and government incentives, making them attractive options for eco-conscious consumers. Commercial EVs, such as electric vans and trucks, are gaining traction in France as well. The Renault Kangoo Z.E. is one of the most popular electric commercial vehicles in France. The Nissan e-NV200, Peugeot e-Partner, Citron e-Berlingo, Mercedes-Benz e-Sprinter, and Volkswagen ID Buzz Cargo are some of the commercial electric vehicle (EV) models gaining popularity in the country. The popularity and preference for BEVs and PHEVs may vary among individuals based on their specific needs, driving patterns, and access to charging infrastructure. Several manufacturers produce battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). Renault, Peugeot, Citron, Nissan, BMW, Mitsubishi, Volvo, and Ford are some of the prominent manufacturers known for their electric vehicle offerings. According to the International Energy Agency, BEV sales in France increased from 190 in 2010 to 170,000 in 2021. At the same time, PHEV sales increased from 96 in 2011 to 140,000 in 2021. Furthermore, the government aims to reach 1.85 million by 2028 and achieve carbon emission programmes by 2050. Lithium-ion batteries are used in battery-electric vehicles for both passenger and commercial cars. Lithium-ion is a rechargeable battery and has a higher density, which makes it the most preferred battery for EVs. The demand for lithium-ion batteries has been increasing owing to the increase in the sale of electric vehicles in France. Further, it will lead to a rise in sales of electric vehicles during the forecast period.

The French government has banned the sale of internal combustion engines by 2040 to promote a carbon emission programme. The European Union has set a target of 30 million zero-emission vehicles by the end of 2035. The automotive sector in France is the second-largest in Europe. The French government has invested EUR 30 billion (around USD 27.9 billion) in 2021 and will provide up to EUR 4 billion (around USD 3.72 billion) to support the automotive industry in producing 2 million EVs by 2030. In 2021, total electric car registration was approximately 174,191, up from 119,737 in 2020. This represents an increase of around 45%. The factor behind the abrupt growth is the French government offering subsidies of EUR 6,000 (around USD 5580) for purchasing EVs at prices under EUR 47,000 (around USD 4371), which includes both BEV and PHEV in 2021. Moreover, in 2022, the French government increased its subsidies from EUR 6,000 (around USD 5880) to EUR 7,000 (USD 6860). In October 2022, the government announced funding of EUR 1.3 billion (around USD 1.27 billion) for an electric car; it will include a leasing scheme through which 100,000 vehicles will be made available for long-term hire at EUR 100 per month (approximately USD 98). Hence, owing to the above points, government initiatives are expected to see significant growth in the electric vehicle market during the forecast period. Battery technology is crucial to the success of electric vehicles. While advancements have been made in terms of energy density, charging speed, and overall performance, some consumers may still have concerns about the longevity and potential degradation of EV batteries. Ensuring the longevity of batteries and establishing efficient recycling processes for retired batteries are important factors to address. Electric vehicles generally have a higher upfront cost compared to their internal combustion engine counterparts. While the prices of EVs have been decreasing over time, they can still be perceived as more expensive by some consumers. However, government incentives and subsidies can help offset this cost and make EVs more affordable. Considered in this report • Geography: France • Historic year: 2017 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027

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Manmayi Raval

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Aspects covered in this report • France market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type • Passenger Vehicle • Commercial Vehicle By population type • BEV • PHEV

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The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us. we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to organic food and beverage industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. "