Charging forward: EV Country Attractiveness Index findings June 2023 Jamie Maule Research Analyst Cornwall Insight j.maule@cornwall-insight.com Cornwall Insight have partnered with law firm Shoosmiths to create the Electric Vehicle Country Attractiveness (EVCA) Index, a quarterly ranking which charts the relative attractiveness of major European nations for investment in EVs – with a particular focus on passenger cars – and EV charging infrastructure. We have identified a variety of metrics covering a range of factors (from purchase subsidies to national EV charging targets) upon which nations can be ranked on their attractiveness. Since the previous iteration of the EVCA Index, published in March 2023, there have been some changes to the EV landscape. New countries have emerged as leaders in battery electric vehicle (BEV) growth while others have continued to develop their charging networks and maintain economic strength at a time when energy prices and inflation both remain elevated across much of Europe. As well as providing an update to existing metrics, the index has also been expanded to include new areas of the EV market. Owing to their status as vital components in the EV transition, further chargepoint indicators have been added to the index and will be discussed in depth later. Reflecting these changes and data additions, the index has seen a shake-up in rankings. This is highlighted on the map and table below – with 1 (darker shading) being the highest and 13 (lighter shading) the lowest – and is followed by a discussion of the latest developments in the ranked EV markets. Figure 1 – EV Country Attractiveness heatmap: EV Country Attractiveness Index findings | June 2023 2 Figure 2 – EV Country Attractiveness index scores and rankings: Country Score Ranking Change Norway 7.0 1 Netherlands 6.6 2 France 6.53 3 Germany 6.50 4 Spain 6.49 5 United Kingdom 6.2 6 Belgium 6.1 7 Denmark 5.8 8 Ireland 5.7 9 Austria 5.6 10 Italy 4.5 11 Poland 4.4 12 Portugal 4.2 13 0 +2 -1 -1 +1 -1 +1 +2 -2 -1 0 +1 -1 Explaining the shift While Norway retains its spot atop the index, as its BEV market remains by-far the most developed, many of the other ranked nations have seen a shift in their positions, though scores remain close. Reflecting continued growth in BEV penetration and its robust and highly developed public charging market, the Netherlands has seen a significant rise in its ranked position, moving from fourth to second. Consequently, despite strong growth for both BEVs and public charge-points, both France and Germany have moved down one position on the index. Spain has also risen up the index, moving from sixth to fifth, as it has been successful in offsetting economic headwinds, incentivising BEV uptake, and deploying increasing numbers of public chargepoints. While continuing to perform strongly, the UK has fallen one position on the index due to a relative lack of development in public charging infrastructure alongside a drop in BEV sales growth. Now leading the index for BEV growth and performing well on public charging indicators, Belgium has moved from eighth to seventh on the index. Similarly to Spain, Denmark has seen success by tackling inflation, lowering the cost of electricity, and deploying public charge-points at pace, moving from tenth to eighth as a result. Ireland’s drop from seventh to ninth reflects its underdeveloped – but growing – public charge-point market alongside losses to BEV growth amid continued economic difficulties. Despite having well-developed and complimentary BEV and public charge point markets, Austria continues to demonstrate fairly low growth across both markets, seeing it fall from ninth to tenth. The bottom of the table remains largely similar with Poland and Portugal exchanging positions. While both nations continue to hold back in some areas of EV policy, Poland has successfully risen from thirteenth to twelfth due to major increases in growth for both its BEV and public charging markets. EV Country Attractiveness Index findings | June 2023 3 Focus on charging In this second iteration of the EVCA Index, we have increased the focus on the growth and maturity of charge-points across the ranked nations with the inclusion of the following metrics: • BEVs per publicly accessible charge-point • Four-quarterly growth of publicly accessible chargepoints • Achievement of Alternative Fuels Infrastructure Regulation (AFIR) fleet-ba