The electric cars market - France

The electric car - a vehicle powered by electricity via a battery or fuel cell- is not a recent invention. In fact, the first experimental model of this type saw the light of day in 1935. However, it wasn't until the turn of the millennium, in 2000, that the electric car made its comeback on the market. Sales in France really took off in 2020, and the range continues to diversify, with increasingly affordable models, luxury models and utility models. Battery autonomy is a major factor in this market, depending on each model. The global market is doing remarkably well, with sales of $384.65 billion in 2022 and an estimated CAGR of 17.8% to 2030. The global market is driven by technological advances and increasingly sustained production in countries such as China and South Korea. The development of increasingly dense networks of recharging stations is another pillar of demand, since it makes increasingly long and comfortable journeys possible. Tesla, a pioneer in the sector, has contributed to making electric cars attractive by making them an asset of distinction. Rising living standards and global environmental awareness are also contributing to strong demand. Europe's high ambitions in terms of carbon neutrality make it a leading player in the development of the electric car market, and France is one of the main contributors. With almost a million electric cars by 2022, the French car fleet is becoming increasingly electrified, with electric car sales accounting for 21% of total car sales in 2020. France is mainly an importer in this sector, but its historic players such as Renault and Peugeot remain leaders, whose models are very popular in the hexagon. Electric cars have a bright future ahead of them, and their average price is set to fall progressively below that of gasoline-powered cars, marking a major step forward in the development of this market.