"European Union Aims for a 46% Electric Vehicle Market Share by 2040: New Plan Unveiled In a bid to reduce greenhouse gas emissions and meet its climate goals, the European Union has unveiled a plan to increase electric vehicle (EV) market share to 46% by 2040. The ambitious strategy, which also includes a significant buildout of battery energy storage systems (BESS), is a crucial step towards the EU's aim of becoming carbon neutral by 2050. The plan, which has been welcomed by industry experts, includes measures to support the development of a robust EV charging infrastructure and to promote the use of recycled materials in EV batteries. With the EU's EV market share currently standing at around 14%, the new plan sets a challenging target for the industry, but it is seen as a necessary step towards a more sustainable transportation sector."
EU plan targets 46% electrification by 2040, BESS buildout Benchmark Mineral Intelligence
