€60bn investment in electric transport in Europe last year

Europe secured €60bn in investments to produce electric vehicles and batteries last year - 19 times more than in 2018, with industry and governments committed 3.5 times more to EV and battery production in Europe than they did in China, according to a Transport and Environment’s report.

Germany accounted for €40bn, coming mainly from the VW Group, and Tesla which announced a plant in Berlin. The Czech Republic received €6.6bn, also thanks to VW, which plans to produce 75 all-electric models worldwide by 2029. Italy secured €1.75bn in EV investments last year from Fiat, while France, Sweden and the UK each got around €1bn from car manufacturers.

The surge in EV investment and looming regulations resulted in a booming electric car market: EVs accounted for 7 per cent of sales in the first quarter of 2020.

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