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EU Faces Electric Vehicle Market Challenges Amid Economic Shifts

New data from S&P Global highlights a downturn in the European Union’s battery electric vehicle (BEV) market outlook due to changing economic conditions. Market expectations have notably decreased, with projected BEV market share for 2025 dropping from 27% to 21%. This trend raises concerns over meeting EU CO2 emission targets, prompting calls for urgent policy adjustments. Czech Transport Minister Martin Kupka emphasizes the need for a targeted industrial action plan to ensure competitiveness against the US and China, supporting the automotive industry’s green transformation amidst rising compliance costs.

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