Israel reportedly forecasts to have electric vehicles account for 30% of its overall auto registrations by 2030, Reuters reports, citing the Energy Ministry’s Tuesday statement.
According to the report, this latest forecast occurred amid the government reassessing its energy export policy. This 30% EV market share forecast equates to approximately 1.3 million cars, representing a significant increase from just 70,00 today. It also expects around 35% of the country’s buses to be electric by the same year.
Chinese brands lead the Israeli EV industry
Chinese automakers primarily drive the notable EV adoption progress in Israel. According to Xinhua, Chinese brands dominated the country’s EV sales from January to August.
BYD ranked first with sales of 12,168 in the first eight months of the year, with the Atto 3 at the forefront. Meanwhile, Geely Auto Group followed with Geometry C model sales of 5,581 units.
American EV giant Tesla landed third spot with 4,948 unit sales, while Hyundai trailed behind with 3,879 sales.
EVs continue to advance in Israel
Israel’s EV industry enjoyed a substantial boost in H1 2023, exceeding the records of the same period last year.
According to The Times of Israel, imported EV deliveries surged almost 219% to over 29,000 units. It represents a notable growth compared to the 27,600 EVs from FY 2022.
EV deliveries currently account for 16.3% of the country’s new automotive market, the report indicated.
See Also:
- Chinese electric automakers dominated the Israeli market from Jan to Aug
- Israel: BYD Atto 3 ranks third on the top-selling EVs in November
- Israeli EV fast charging developer inks deal for US distribution
- Tesla has delivered 10,000 vehicles to Israel
- Israeli EV Group REE Automotive will build a plant in the UK
The expected growth of electric vehicles will substantially add pressure to the electrical grid with a 6% share in the total demand. The Energy Ministry stated that the shift will require “a tenfold expansion in battery charging capacity.”
Moreover, the Ministry further expects to have 6 million electric vehicles in the country by 2050.
