Strong stimulus programs and an introduction of fines on CO2 emissions have helped Europe to lead the way this year on electric vehicle (EV) sales, according to Ernie Ortiz, president and managing director at Lithium Royalty Corporation.
"Sales are strong enough that Europe can even take the crown for the largest EV market this year," Ortiz said during the Focus Day on electric vehicles at the London Metal Exchange's online LME Week event on Thursday October 22.Among the top five Western European countries, EV penetration reached 10.6% in September. This was an important milestone and marked the first time the measure had reached double-digits, he said.In Germany, EV sales have nearly doubled with one quarter of the year remaining, while EV sales in the UK were already up by 40% over the full-year figure for 2019 with one quarter yet to be included.Europe was leading the way relative to China, where EV penetration was around 5%, and the United States, where it was around 1.5%, he added."In many...