What has sparked the growth of e-LCVS?
This growth is driven by three influential forces: EU legislation, national government decisions, and corporate policies.
At the European level, the game-changing "Fit for 55" measures were introduced by the European Commission. With this measure it is aimed to gradually reduce greenhouse gas emissions by at least 55% for passenger cars and 50% for light commercial vehicles by 2030. Ultimately, these regulations are targeting zero CO2 emissions on all new vehicles by 2035.
On the national front, governments establish low-emission zones (LEZ) and ultra-low-emission zones (ULEZ) in densely populated areas, accompanied by grants and incentives. The implementation of these measures varies across countries, with leaders like Norway and the Netherlands paving the way. The number of LEZ in Europe is expected to surge by 58%, to 507 zones by 2025. National tax benefits and purchase incentives reflect the market's electric vehicle uptake, as the EU allows flexibility for country-level adoption of alternative fuel vehicles to encourage e-LCV use.
Additionally, companies themselves are undergoing transformations. EU law mandates large companies to disclose ESG information and set comprehensive targets. With transportation responsible for a quarter of the EU's greenhouse gas emissions, companies have a strong incentive to gain in-depth insights into their fleet operations.