Source: EV Volumes
In addition to international political support, the electric vehicle market has not stopped growing since its begnings, despite the fact that in 2018 they only made up 2.4% of the market in Europe. In Norway, a country that will ban the sale of vehicles that use fossil fuels in 2025, electric vehicles already account for more than 18% of sales.
Impact on the market
This situation caused movements of some depth in the market. We can highlight the alliance between BMW and Jaguar Land Rover (JLR) to accelerate their electric models´ production processes, as well as to lower this technology price. The intention is to save millions of euros in the development of the next generation of vehicles, exploiting strong synergies in production processes, cost planning and purchases. The alliance also includes the joint development of connectivity systems or autonomous driving.
Both companies are clearly betting on this niche, as evidenced by the launch of the sub-brand BMWi, under which it sold its i3 and i8, or the Jaguar I-Pace, awarded as the Best Car of the year 2019 at the World Car Awards.