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The best and worst placed in the race towards electric vehicles

06/17/2021 | 10:50am EDT

According to a recent study by T&E, which regularly ranks car manufacturers, only Volvo Cars and Volkswagen are on track to electrify their fleets by 2030 and thus meet the European target of a 55% net reduction in greenhouse gas emissions (compared to 1990).

According to the ranking, where these two groups have aggressive and credible strategies towards electrification of their entire range, others, such as Ford or Stellantis, have an ambitious phase-out goal but do not have a solid plan to achieve it. BMW, Daimler and Toyota are poor performers in the class, contrary to what we might think. They have low sales of battery electric vehicles (BEVs) to date, no ambitious targets for phasing out gasoline and/or diesel vehicles, no clear industry strategy and an over-reliance on hybrid vehicles, which are only a transition to full EVs.  Volkswagen has been quick to turn the page on Dieselgate, as has Volvo, which is under attack from NGOs for potential non-compliance with Euro 5 standards. These two manufacturers are currently the most credible in their electrification ambitions to face Tesla, which is very aggressive in its entry into the European market.

The ranking of European manufacturers in pictures :

la course au vert automobile volvo

Source : transportenvironment.org

ę MarketScreener.com 2021
Stocks mentioned in the article
ChangeLast1st jan.
AB VOLVO -0.20% 198.26 Delayed Quote.2.53%
BMW AG 1.28% 88.62 Delayed Quote.21.20%
DAIMLER AG 0.82% 83.5 Delayed Quote.43.43%
FORD MOTOR COMPANY -0.38% 15.9784 Delayed Quote.82.03%
STELLANTIS N.V. 1.09% 17.668 Real-time Quote.0.00%
STELLANTIS N.V. 0.72% 17.618 Delayed Quote.19.47%
TESLA, INC. 3.73% 1063.995 Delayed Quote.45.23%
TOYOTA INDUSTRIES CORPORATION -0.52% 9510 End-of-day quote.16.12%
TOYOTA MOTOR CORPORATION -1.87% 1946.5 End-of-day quote.22.31%
VOLKSWAGEN AG 0.90% 207 Delayed Quote.34.66%
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