As 2024 swings into action, several markets in the European region begin their annual taxation and vehicle price changes.

Switzerland has seen a VAT increase from last year’s 7.7% grow to an 8.1% charge, effective from the beginning of January. Overall, 2023 sales for the market also saw gains, a near 12% uplift on 2022 numbers.

Austria’s NoVa tax changes see a new minimum emissions threshold for these charges to commence, down from 102 g/km to 79 g/km.

Both Portuguese and Spanish markets have introduced new taxes, including an updated road tax for all vehicles in the former market, with the exception of BEVs. Norway’s first registration fee has also increased.

According to Mobility Sweden, new registrations of passenger cars in 2023 barely moved from 2022’s total at around a 0.5% increase. Additionally, the proportion of rechargeable passenger cars increased by only 4%. Forecasts for this year appear to be on the pessimistic side, with a sharp reduction in new registrations of passenger cars and the electrification rate expected to decrease. However, there is a small trend showing that prices on private leasing are reducing, which may in turn offer hope in light of forecast predictions.

Like Tesla’s decision in 2023 to slash pricing in a bid to boost sales, Chinese firm BYD has kicked off 2024 in the German market by substantially reducing retail pricing for the large majority of its ranges, by up to 15%. This comes as BEV pricing is under great pressure following the Government’s removal of the EV subsidy last year, however typically discounts are now being found in incentives form. As an example, Volkswagen is now offering a EUR 7,000 discount on ID.3 models and with manufacturers following suit, Renault’s Megane e-Tech seeing price reductions albeit with the removal of standard equipment to mitigate the revenue loss.

The Italian market for 2023 closed with 1,566,448 new registrations, up 19% over 2022, but still down on 2019 levels by almost 19%. Interestingly, despite fewer new registrations year-on-year since the pandemic, the number of vehicles on the roads in Italy totalled 40,839,063 in 2023, whereas 2019 vehicles totalled 39,545,232. This suggests more people turned to the second-hand market than purchasing new.

Back in 2021, Malaysia revealed its plan to have 10,000 EV public charging stations in place across the country over the next four years. The plans said this would consist of 9,000 AC and 1,000 DC fast chargers, as outlined under the Low Carbon Mobility Blueprint (LCMB) 2021-2030. However, with a year to go before the target date, the number of public charging points in operation currently stands at a little over 2,000. While the latest numbers say 1,430 chargers were running as of November 2023, with nearly 600 new charge points coming about in the past two months, the original target is looking out of reach. The ministry of investment, trade and industry (MITI) says it will review the target.

BYD has begun building its first sodium-ion battery plant in China, investing USD 1.4 billion with a 30-Gigawatt hour planned annual capacity. FinDreams and Huaihai agreed to build the first BYD sodium-ion battery plant in Xuzhou in November.

Chinese automotive manufacturer JAC Motors officially delivered its first mass-produced EV with sodium-ion battery to users at the beginning of this month. The new model is under a new EV brand backed by Volkswagen and JAC Group, named YiWei 3. The new battery pack will provide over 130Wh/kg energy density.

The Government of Thailand has reintroduced its EV subsidy, now under the reboot name of 3.5. This subsidy reduces excise tax and now offers a cash subsidy and will run until 2027. Volvo also announced they will set up a battery recycling plant in the market.

Stellantis has announced plans to launch up to eight new electric vehicles on a flexible new platform over the next couple of years, beginning in North America later in 2024 with Dodge and Jeep. The ‘STLA’ Large platform will underpin a selection of models from Alfa Romeo, Chrysler and Maserati.

According to reports, the platform can accommodate a number of different ground clearances for off-road and highway usage, with a range of rear-wheel, front-wheel and four-wheel-drive offerings, in sedan, SUV and Crossover forms. Ranges are expected to be anything up to 500 miles.

The platforms will be available in 400-volt and 800-volt architectures, Stellantis said in a statement. It will also have hybrid and internal combustion options.

Sony Honda Mobility recently showcased its new Afeela EV prototype at CES 2024 earlier this month, with features that bridge the gap between driving and gaming. The concept demonstrated a fusion of Sony’s gaming expertise and Honda’s mobility innovation.