France Automotive High Performance Electric Vehicles Market - Trends, Growth and Forecast (2022 - 2027)

France Automotive High Performance Electric Vehicles Market - Trends, Growth and Forecast (2022 - 2027)

The France automotive high performance electric vehicle market is expected to register a CAGR of about 20% during the forecasted period (2020 - 2025)

Key Highlights

• Growing awareness of vehicle emissions, lower operating and maintenance costs, along with increasing government initiatives to encourage the use of electric vehicles, will drive the growth of high-performance electric vehicles in France. The growing demand for these types of vehicles is primarily due to the increasing popularity of racing events across the world.
• An electric high-performance vehicle (EHPV) is propelled by electricity and is equipped with advance electric vehicle powertrain components and Li-ion batteries with high energy density. Government is also providing monetary benefits such as zero to a very little registration fee and exemption in import tax, purchase tax, and road tax. Apart from providing subsidies, the French government has announced plans to offer some of most generous incentives of any country to buy an electric vehicle, buyers will be eligible to receive up to 12,000 EUR. This was announced on May 27, 2020 when the French government presented an 8 billiion-euro rescue plan for the country’s auto industry.

Key Market TrendsIncreased Performance of Passenger Cars is Boosting the sales of Electric Vehicles

Geographies around the world are witnessing an increase in demand for fuel efficient and low emission vehicles. Limited range of electric vehicles is a major factor that is restraining the growth of market. OEMs are now manufacturing electric cars with higher mobility range that goes beyond 200 miles in a single charge. Tesla is the leader in high-performance electric vehicles, the company has developed cost-effective but high-performance electric vehicles to leverage the adoption of electric vehicles around the world. The company is also involved in its supporting business such as EV charging stations and service centers. Tesla has setup 651 charging station in 2019 alone in France. Now after so many years other companies are trying to enter into this segment of electric vehicles by launching their high-performance electric vehicles in the market. Tesla has sold 7,442 electric vehicles in France in 2019. Tesla’s revenue grew to almost 24.6 billion USD in 2019, a three billion increase from previous year. Other high-performance models from key players include Hyundai Kona (258 miles), Kia Niro Electric (239 miles) and Chevy Bolt (257 miles).

For instance, Audi E-tron Sportback is set to join its sibling standard E-tron by mid-2020, Skoda’s first electric car is expected to go on sale by 2021, but its production version should be launched in 2020. Ford much-awaited Electric Mustang was released on July 21, 2020. Similarly, in 2019, Lamborghini has introducedSián, Company claimed that it is its most powerful model ever built, Sian combined power is 819 hp in which 34 hp is due to its 48-volt electric motor. In 2018, BMW has showcased its all-electric SUV iX3 in Auto China 2018, Company will be starting the production of this electric SUV in China and then exported globally by 2020. The iX3 to be first available for the European market with 300 hp and range around 160-200 miles.

Electric Vehicle Market is Expected to Grow Exponentially

France has set itself the ambitious target through its Climate Action Plan 2050 of achieving a 25% to 40% reduction in CO2 emission levels by 2020, 50% in 2050, as compared to 1990 levels. As a result, Germany unveiled a plan to increase electric vehicle production to 1 million units by the end of 2020, which is expected to increase the demand for EHPV.

Additionally, major European market players are investing hugely in electric vehicles, For instance, Volkswagen Group, and Groupe are Renault investing strongly in electric vehicles. The Volkswagen group plans to invest around EUR 60 billion on the development including areas of hybridization, electric mobility, and digitalization between 2020 and 2024. Renault SA will invest 128.5 million euros for a 50% stake in a venture with Jiangling Motors Corp to develop electric vehicles in China, part of a push by French company to make further inroads into the world market.

Similarly, Daimler AG is planning to bring more than ten different electric vehicles by 2022. In which they will be electrifying the entire MercedesBenz portfolio. The company will invest around ten billion euros in the development of its EQ vehicle portfolio. For 2020 the company has ambitious plans to sell smart models with battery-electric drive in Europe and the United States. In 2019, Ford launches electric variants of its Kuga and Puma SUVs and the Mondeo sedan. The automotive major has plans to launch nine other electric vehicles by 2024 in Europe. The company has also partnered with leading energy suppliers across Europe for home-charging wall box installation services.

Owing to the above mentioned factors, the France high-performance electric vehicles market is expected to grow at a very high rate during the forecasted period.

Competitive Landscape

The France automotive high performance electric vehicles market is highly consolidates, with only few players dominating the market. Tesla, Hyundai Motors, Renault SA, Daimler AG, Volkswagen Group, BMW, and Nissan are main players in the market. In November 2019, Tesla launched Cybertruck, an all-electric pickup truck. Tesla claims that Cybertruck has a range of more than 500 miles (250+ miles range for the base model which is priced at USD 39,900) and reaches 0 to 60 miles per hour in less than 2.9 seconds. Maximum towing capacity of Cybertruck is 14000 lbs. In January 2019, Toyota Motor and Kenworth Truck Company announced that they are collaborating to build ten zero-emission Kenworth T680s powered by Toyota hydrogen fuel cell electric powertrains. In 2019, Porsche launched its first electric car, the Taycan which comes in three variant Taycan 4S, Taycan Turbo, and Turbo S. Company claims that Taycan 4S can go up to 407 km of range, 412 km for the Turbo and 450 km for the Turbo S models.

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• The market estimate (ME) sheet in Excel format
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Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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