German auto association sees 2023 electric passenger car output up 50% – Stock market news
BERLIN (Reuters) – Germany’s auto industry association VDA expects the number of electric passenger cars produced in Europe’s biggest economy to jump 50% to more than a million this year year, due to increasing foreign demand and carmakers increasing e-mobility production.
“We assume that domestic production of electric passenger cars will increase by 50 percent to 1.33 million units, of which 980,000 will be purely battery electric cars,” the Head of VDA Hildegard Mueller was quoted by Automobilwoche on Sunday.
About 885,000 electric cars were produced in Germany last year, of which 300,000 were plug-in hybrids, according to VDA.
Mueller said the forecast was based on new electronic models on offer and increased production at Tesla’s Gruenheide and Mercedes-Benz Bremen plants, adding that demand from abroad was stronger than in Germany. due to a partial reduction in government subsidies that came into effect this year.
(Report by Riham Alkousaa)