TSLA - The ICE Apocalypse Is on the European Horizon
Morgan Stanley analyst Adam Jonas wrote in a note to clients on Friday that global EV sales will grow 50% or more next year, while sales of internal combustion engine vehicles are expected to grow 2% to 5%. He also predicted that global EV penetration will rise from 4% to 31% by 2030. One thing is certain and that is 2021 is shaping up to be a critical year for EV adoption. Mercedes-Benz just announced its Tuscaloosa plant will build large, electric SUVs starting from 2022 as part of what it calls its electric-vehicle “fireworks display”. Aiming to take the lead in premium EVs from Tesla (NASDAQ: TSLA), Mercedes-Benz announced plans to deliver eight new all-electric models starting from early 2022.
But near-term, Europe remains as the most fertile EV ground. Stricter emission regulations and government subsidies that make these vehicles much more affordable are speeding up the de-adoption of ICE vehicles. Here are six electric vehicles that could bring on the “ICEpocalypse” to European roads.
Volkswagen’s ID.3 and ID.4
Volkswagens’ (OTC: VWAGY) ID3 was the top selling EV in Europe only one month after being launched. But Europe has been shifting toward larger vehicles so the ID.4 should grow in popularity quickly and, with its highly competitive price considering the range and specs, it should give the ID.3 a run for its money.
Renault ZOE
ZOE (OTC: RNLSY) has been the top selling electric vehicle on the continent in most of the last decade. As it continues to improve and range increases, the ZOE should replace the Clio which has sold 230,000 units in Europe during the first 10 months of the year. Although the ZOE, which was the top selling EV in Europe until ID3 came along in September and took its throne in October, was at 73,403 units, it’s only a matter of time before it reaches 100,000 in European sales per year. But it needs to fend off the competition and grow a backbone.
Tesla’s Model 3 and Model Y
Tesla’s Model 3 is the top selling EV in the world. In Europe, it is second on the top selling list. It’s not exactly on track to beat 100,000 sales in 2020, but Tesla is determined to win over Europe considering its ambitious developments at its upcoming Berlin factory. However, it has been ordered again to suspend its preparations due to a successful court injunction by environmentalists. This time round, Tesla was stopped by snakes and lizards. But its Model Y will arrive to Europe eventually and it is probably going to sell considerably better than the Model 3, due to its features and an overall preference for its class of vehicle.
Peugeot e-208
Peugeot’s (OTC: PUGOY) 208 was the 7th best-selling vehicles in the first ten months of the year. So, while the e-208 had only about 25,000 sales in that time period, it could gradually rise up the rankings as tech improves, range increases, and cost drops in the coming year. It is considered by many as one of the best European EV offerings on the market, a testament to Peugeot’s upswing.
Things are bound to get even more interesting as European models debut in the US and vice-versa, and we did not even mention the players from the largest EV market, China. Have no doubt, EVs are coming to a ‘store’ near you.
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