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New Product Launches are Driving Spain Electric Vehicle Market
Spain Electric Vehicle Market
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According to the European Commission, 17,264 units of EVs were sold in December 2024, projecting 21.1% year-on-year growth. Of these 8,925 units were BEVs, up 48.2% YoY. The private sector purchases of EVs, grew by 106% YoY, during the period, making up 66% of total electric passenger car sales.
The major companies serving the Spain electric vehicle market include AB Volvo, BMW AG, BYD Co. Ltd., Daimler AG, Hyundai Motor Co., Jaguar Land Rover Ltd., Kia Motors Corp., Mitsubishi Motors Corp., Nissan Motor Co., Renault Group, Tesla, Inc., and Volkswagen AG, among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions contributing significantly to market growth.
Full report of Spain Electric Vehicle Market available @ https://www.omrglobal.com/industry-reports/spain-electric-vehicle-market
Recent Developments
In December 2024, Pod Point launched an EV charging system in Spain- a Solo 3S home charger. The product will be launched in partnership with solar equipment specialist SeisSolar. It is based on the UK version of the charger, with modifications to suit the Spanish market and its warmer climate. It will enable the customers to charge their EVs for free if they have solar panels.
In December 2024, Stellantis and CATL entered into a partnership to invest up to €4.1 billion to form a joint venture, to build a manufacturing plant of lithium iron phosphate (LFP) battery in Zaragoza, Spain. The facility is designed to be completely carbon neutral and would be implemented in several phases and investment plans. It targets to reach up to 50 GWh production capacity by the end of 2026.
In July 2024, Acciona launched its NanoCar Silence S04. It is an electric car designed for urban driving. The car features a subscription-based battery exchange service.
In June 2023, BYD and Castrosua launched the jointly-manufactured electric bus at a presentation ceremony in Santiago de Compostela, Spain. These are personalized 12-metre electric buses. BYD's chassis features a 6-in-1 controller that integrates the vehicle's ecosystem.
In March 2023, BYD debuted its pure-electric passenger vehicle range in Spain. The launched products included the BYD ATTO 3 C-Segment SUV, the BYD TANG SUV, and the BYD HAN executive sedan. The products were launched through the automotive distribution groups including Astara, Quadis, and Caetano Retail Spain. BYD Pioneer Stores opened in Barcelona (Avenida Aragó 29) and Madrid, on 20 Concha Espina Street.
In June 2022, Ford announced its plant in Valencia, Spain, to be chosen for the assembly of electric vehicle architecture.
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Contact Person: Mr. Anurag Tiwari
Email: anurag@omrglobal.com
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Company Name: Orion Market Research
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offers Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
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