Rho Motion, the leading EV research-house, is set to reveal today at their Seminar Series event, that only three traditional car manufacturers are due to meet the UK’s full 2024 ZEV car mandate. While most major manufacturers should attain the 2024 minimum compliance level (6% of sales), only BMW, Mercedes and Geely are expected to meet the full 2024 ZEV mandate for cars (22%).

George Whitcombe, Research Analyst at Rho Motion, said: “While we can be buoyed by today’s news that we expect most UK manufacturers to reach the minimum compliance level of EV sales, it’s not without concern for future years. European sales figures for the year have been lower than expected as manufacturers struggle to compete with traditional petrol/diesel cars on price. If the UK mandate is to be successfully met in the future, manufacturers and consumers need further incentives to go electric.”

According to Rho Motion’s sales figures up until October and projected numbers for the remaining two months, major car manufacturers like Toyota and Ford, are expected to meet the 2024 minimum compliance level for cars but fall short of the full 2024 ZEV mandate which could lead to financial penalties. However, the current framework is designed with some flexibility which allows manufacturers to trade ZEV credits among themselves as well as either borrow from or credit their sales against future targets.

The news comes as Ford announced 800 job cuts in the UK and Jaguar’s latest rebrand is met with a mixed reception. Global EV sales hit their second consecutive month of record figures in October with two out of three purchases happening in China.

Rho Motion’s Seminar Series event takes place at the Royal Society in London today with speakers from across the EV industry sharing their latest views and insights.

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Notes to Editors
Rho Motion, a Benchmark Company, was founded in 2018 by Managing Director Adam Panayi and is now the leading global research house for actionable intelligence into electric vehicle and battery markets, associated technologies including motors and systems, charging and infrastructure, energy stationary storage, battery recycling and the wider energy and renewables markets.

In June 2024 Rho Motion merged with Benchmark Mineral Intelligence, the world’s fastest-growing business at scale for lithium, critical minerals and the energy transition.

Combined, with nearly 250 employees, Benchmark and Rho Motion form the world’s biggest platform for prices, data and market intelligence dedicated to the full breadth of critical mineral and energy transition supply chains.

Find out more about Rho Motion and their upcoming events at: rhomotion.com