EU Spent €11.8 Billion On Imports Of Non-Plug-In Hybrid Cars...| MENAFN.COM

Tuesday, 31 January 2023 11:17 GMT

EU Spent €11.8 Billion On Imports Of Non-Plug-In Hybrid Cars Last Year


(MENAFN- Emirates News Agency (WAM))

BRUSSELS, 3rd December, 2022 (WAM) -- In 2021, the EU spent €11.8 billion on imports of non-plug-in hybrid cars (41 percent of total extra-EU imports of hybrid and electric cars), €11.4 billion on full electric cars (39 percent) and €5.9 billion on plug-in hybrid cars (20 percent), according to figures published by Eurostat, the statistical office of the European Union.

For all three categories of cars, the value for imports was less than the corresponding value for exports from the EU. Exports of non-plug-in hybrid cars were valued at €22.9 billion, which was more than half of the total extra-EU exports of hybrid and electric cars (55 percent), full electric cars at €12.3 billion (29 percent) and plug-in hybrid cars at €6.8 billion (16 percent).

Electric cars are an important part of the energy transition. They are becoming increasingly popular, with international trade in hybrid (both plug-in and non-plug-in) and full electric cars on the rise.

In value terms, total extra-EU exports of hybrid and electric cars in 2021 totalled €42 billion, which was almost an 800 percent increase compared with 2017 (€4.7 billion). The total import value increased by more than 400 percent from €5.6 billion in 2017 to €29 billion in 2021.

The value of imports for non-plug-in hybrid vehicles into the EU increased by 165 percent in 2021 compared with 2017 (€11.8 billion in 2021 compared with €4.5 billion in 2017). In the same period, the value of imports of hybrid cars increased by almost 800 percent (€5.9 billion compared with €0.67 billion) and that of electric vehicles jumped 2400 percent (€11.4 billion compared with €0.46 billion).

In terms of exports, the largest increase was for non-plug-in hybrid cars; in 2021, exports increased by more than 5000 percent compared with 2017 (€22.9 billion in 2021 compared with €0.4 billion in 2017). Exports of full electric cars increased by 660 percent (€12.3 billion compared with €1.6 billion), while those of plug-in hybrid vehicles increased by 150 percent (€6.8 billion compared with €2.7 billion).

MENAFN03122022000061011009ID1105263252


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.