Sales of Electrified Cars to Quadruple in Europe

Deliveries of plug-in hybrid and all-electric vehicles across Europe will jump fourfold to 1 million units in 2020, predicts Europe’s Transport & Environment group.

T&E says the growth will be driven by the desire of carmakers to avoid hefty European Commission fines if their new-car fleets fall below average carbon dioxide emissions of 95 grams per kilometer. The penalty will be €95 ($105) per gram over the limit, multiplied by sales volume.

The regulatory pressure will be evidenced by a bevy of new electric models to be unveiled at the Frankfurt auto show this week. Daimler, Honda, Lamborghini, SEAT, Vauxhall and Volkswagen are among those with production-ready vehicles to launch.

Market analyst IHS Markit notes that the number of electrified models offered in Europe will triple by 2021.