Can Small, Cheap EVs Rescue Europe's Push For Electric Dominance?

Europe’s challenge to hit a near-60% EV market-share mandate by 2030 is growing, with forecasts falling short under current trends. Analysts argue the “rescue” could come from shifting quickly to mass-market electric cars that are smaller and cheaper—potentially in the €10,000-€15,000 range. The idea is to target everyday commuting with modest range rather than copying the capabilities of higher-priced traditional vehicles. The EU is backing the push with its new “M1E” category and an Industrial Accelerator Act, while declining battery costs help. Yet projections—Jefferies 42%, UBS 48.9% (6.9 million) and HSBC 45%—suggest major momentum is still missing.