electric hybrid — Electric and hybrid cars now constitute a significant portion of EU production, with these vehicles accounting for nearly a third of all cars manufactured in 2024.
- electric hybrid — Electric and hybrid cars now constitute a significant portion of EU production, with these vehicles accounting for nearly a third of all cars manufactured in 2024.
- This growth in presence underscores a substantial rise since 2017, when electric and hybrid vehicles comprised only 8 per cent of EU imports and a mere 2 per cent of exports.
Electric hybrid: Growing Presence in EU Imports and Exports
According to Eurostat, electric and hybrid vehicles represented 43 per cent of all cars imported into the European Union this year, though this marks a slight decrease from 44 per cent in 2023. In contrast, 28 per cent of all cars exported from the EU fell into the same category, reflecting an increase of one percentage point compared to the previous year.
This growth in presence underscores a substantial rise since 2017, when electric and hybrid vehicles comprised only 8 per cent of EU imports and a mere 2 per cent of exports.
Electric Vehicle Production Figures
This year, out of a total of 12.1 million cars produced in the EU, approximately 3.9 million were electric or hybrid. This is a modest increase from the 3.8 million recorded in 2023. Among these, fully electric cars accounted for 13 per cent of production, while plug-in hybrids made up 6 per cent and non-plug-in hybrids also accounted for 13 per cent.
Financial Impact of Electric and Hybrid Vehicles
The EU invested €42.4 billion in electric and hybrid car imports from non-EU countries in 2024, which is a 12 per cent decline from €48.3 billion the year prior. Exports to markets outside the EU also saw a decrease, totalling €57.3 billion compared to €62.5 billion in 2023.
Despite the decline in financial figures, the production value of electric and hybrid cars remains noteworthy. Electric vehicles alone held a production value of €57 billion, although this is down from €66 billion in 2023. Non-plug-in hybrids followed with a production value of €36 billion, an increase from €34 billion last year, while plug-in hybrids reached €29 billion, up from €24 billion.
Market Leaders and Trade Partners
China continues to dominate the EU’s electric vehicle import landscape, supplying 55 per cent of all electric car imports. South Korea follows with 16 per cent, while Japan and the United States contribute 9 per cent each. On the export front, the United Kingdom remains the leading destination for EU electric cars, absorbing 31 per cent of total exports, with the United States and Norway following closely behind at 23 per cent and 11 per cent, respectively.
