The UK is fifth place in the EY Electric Vehicle Country Readiness Index.
China has retained the top spot in the index, which examines a country’s readiness for the arrival of EVs based on supply, demand and regulation.
Norway, a new entrant for 2022, is in second place, followed by Sweden, Germany and the UK.
Battery manufacturing and supply chain control remains a key driver for China leading the way, as it accounts for 122 out of 200 lithium giga factories in the world. This is coupled with increased consumer demand and widespread charging infrastructure (by 2021, China had deployed 41% of all DC fast chargers).
Norway’s 2022 ranking is due to strong regulation in the form of tax benefits, as well as the introduction of EV lanes and parking spaces, resulting in EVs accounting for more than 70% of all new 2021 car registrations. Sweden’s strong energy ecosystem along with high consumer uptake (more than 40% in 2021, according to EY analysis) and strong manufacturing presence (41% of all cars produced in Sweden are expected to be electric models between 2022-26), means the country remains ahead of Germany and the UK. However, the research found that both Germany and the UK have strong bases of original equipment manufacturers (OEMs), localised battery production and upcoming EV launches.
Randy Miller, EY Global Advanced Manufacturing & Mobility Leader, said: “Earlier this year, the 2022 EY Mobility Lens Consumer Index indicated for the first time that more than half of all consumers looking to buy a car want an EV. We know now that the demand is there, and now it is up to OEMs and governments to catch up. China, Norway and the other Leaders listed in the Country Readiness Index have demonstrated that a strong mix of regulation to stimulate demand, combined with localised battery production and implementation of a robust infrastructure plan, are critical factors in helping countries successfully transition to EVs.”
The United States came in at seventh place, largely due to poor demand. The report found a robust OEM presence and strong backing from President Biden’s administration, but under 4% of new car registrations in the US are EVs and just 29% of US consumers are looking to buy an EV as their next vehicle, the lowest of all the countries surveyed.
Miller added: “While more work clearly needs to be done in driving consumer demand in the US, I believe the country is moving in the right direction when it comes to EVs. The federal government is putting around US$10b into EV battery supply chains and charging infrastructure, and the manufacturing sector is seriously gearing itself up for EV production, with 13 battery plants due to be built across the country by 2025.”
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