Sweden electric vehicle market is projected to grow at an exponential CAGR of more than 18.0% during the forecast period (2019-2025). The key factor to drive the growth of the market includes the rising need for energy requirements. The EV market has been growing due to increasing demand for low carbon emissions and reduced levels of greenhouse gas. As per the Swedish government plan for sustainable development, the government has targeted to reduce the use of petrol and diesel cars by 2030 and to cut emissions from transport by 70%.
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Moreover, as per the BIL Sweden, in January 2021, the market share of the passenger cars in the plug-in electric vehicle segment grew to 33.5% as compared to 30.3% in January 2019. In addition, the registration of passenger cars increased by 22.5%, and light truck registration increased by 83% in January 2020 as compared to the previous year. The sale of the traditional vehicle is reducing rapidly and the adoption of electric vehicles is increasing. In Sweden in 2020, the most selling battery electric vehicles include Volkswagen ID.3, Tesla Model 3, Kia Niro, Renault ZOE, Nissan Leaf, and others. The growing environmental concern along with the increasing sale of the electric vehicle is propelling the growth of the Sweden electric vehicle market.
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Sweden Electric Vehicle Market Report Segment
By Vehicle Type
- Commercial Vehicle
- Passenger Cars
- Two-Wheelers
By Propulsion Technology
- Battery Electric Vehicles
- Plug-in Hybrid Electric Vehicles
By Battery Type
- NiMH
- Li-ion
- Others
Company Profiles
- Audi AG
- BMW AG
- Daimler AG
- Jaguar Land Rover
- Mitsubishi Motors Corp.
- Nissan Motor Co.
- Porsche AG
- Renault Group
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