At the grand Mobility Portal Europe stadium and with a focus on electromobility, Spain and the United Kingdom face off in an exciting final, full of strategies and masterful plays.
In the context of the UEFA Euro 2024 final, this portal will not test their football skills (which will already be under the spotlight this Sunday), but rather their policies and advancements in the field of electric vehicles (EVs).
This is no coincidence, as EVs have been part of the entire tournament, with the main sponsor being none other than BYD.
The brand is strongly committed to establishing itself on the continent, despite the challenges posed by the European Union (EU) with the implementation of tariffs on its zero and low-emission models.
That’s why it has placed an interesting bet on the field to support the tournament’s main players, as well as to provide a distinctive experience to those who visit their dealerships throughout the football season.
Now, with a focus on the eMobility competition, an analysis of both teams:
First Half: What is the market share of 100% electric models?
Kicking off the match, Spain positions itself on the field showing a remarkable evolution in its adoption of electric vehicles, but not without facing certain obstacles.
In June, registrations of electrified models (100% electric + plug-in hybrids) contracted by 13.8%, reaching only 12,249 units.
All of this is happening amidst a process of defining its purchase incentives: the well-known MOVES Plan. But we will talk more about that a bit later.
So far this year, the market has retreated by 5.4%, totalling 64,616 units.
However, there are key points in Spain’s strategy.
Purchases of pure electric vehicles by individuals grew by 11.8% in June and have accumulated an increase of 9.3% in the first half of the year.
Almost half of all pure electric vehicle registrations are made by individuals.
On the other side of the field is the UK, which is not lagging behind in its commitment to zero and low-emission mobility.
This past month, the country reached a significant milestone with the automotive market surpassing half a million for the first time in five years.
Sales of battery electric vehicles (BEVs) increased by 7.4% to 34,034 units in June.
The new car market recorded growth of 1.1%, reaching 179,263 units.
And, so far this year, the total number of new cars registered stands at 1,006,763, reflecting an increase of 6.0% compared to the previous year.
Although market growth was mainly driven by the fleet sector, retail sales demand has decreased for the ninth consecutive month.
Despite the progress, adoption is still below the levels set by the government, highlighting the need for greater incentives and government support.
This is similarly seen in the Spanish market.
Second Half: Purchase Incentives, Key to the Final Decision?
With a transition that is moving smoothly and 45 minutes left in the match, incentives come into play to decide the final outcome.
From its position, the UK faces a complex situation.
The country offers an exemption from the Vehicle Excise Duty and a reduction in the Benefit-in-Kind tax rate.
It also had a purchase assistance plan with discounts of up to 35% off the original price of electric vehicles, with a maximum of £3,000. However, this plan ended in June 2022.
Now, with the general elections concluded and a new party about to take national control, the automotive industry is raising an alarm.
Firms like Stellantis are urging the government to reinstate fiscal incentives for private consumers, such as reducing VAT on BEVs, which could result in adding 300,000 private BEVs on the roads in the next three years.
From their perspective, these measures are crucial to achieving the goal of having half of all cars in use emission-free by 2035.
Meanwhile, Spain relies on its star player for the decisive final minutes: the MOVES III Plan.
Spanish citizens benefit from being able to purchase zero and low-emission vehicles with grants of up to €7,000 and the possibility to increase these amounts by scrapping old models.
However, not everything is ideal, as delays in payment of up to 12 months have been an issue with the subsidy package.
This matter has sparked lengthy debates among eMobility sector representatives.
Additionally, uncertainty regarding the continuity of subsidies arose for Spaniards just over a month ago.
In the European context, and similar cases like Germany’s, fears arose that these subsidies might come to an end, but that was not the case.
The resolutions finally came with an extension of the subsidies until December 2024, which will bring relief and encouragement to those interested in investing in these segments.
Decision by Penalties?
In this electrifying duel, both countries display strengths and weaknesses on their path towards electromobility.
Spain needs to overcome challenges in the corporate and rental sectors, while the UK must further promote the retail market and maintain momentum in adopting zero-emission segments.
The key to success?
According to leaders in the eMobility world themselves, it lies in achieving greater implementation of effective policies, continuous improvement of infrastructure, and both countries’ ability to quickly adapt to market demands.
Like in a football final, determination, strategy, and adaptability will be crucial in determining who takes the crown at the UEFA Euro 2024 eMobility Championship.
With both teams showing strong commitment to a more sustainable future, we await the outcome as time progresses and national and European goals are met.
Meanwhile, the sector eagerly anticipates the football results on Sunday and the developments in electromobility at Mobility Portal Europe.
