The Rise of Electric Vehicles in Germany

Electric vehicles (EVs) are swiftly becoming more popular worldwide. Recent statistics highlight that Germany is leading the charge in this transition, marking a promising opportunity for companies like Lucid Motors and Polestar.

According to data from Market Research Telecast, as of 2021, Germany registered 355,691 electric vehicles, which reflects an astonishing 83.3% increase compared to 2020. This surge means that EVs now constitute 13.6% of all new vehicle registrations in the country.

In stark contrast, traditional gas-powered vehicles saw a significant decline of 37.1% between 2020 and 2021, while diesel vehicles also dropped from 28.1% to 20%.

The overall registration of new cars in Germany decreased by 10.1%, likely influenced by global shortages stemming from the Covid-19 pandemic. The leading manufacturers during this period were Volkswagen, followed by Mercedes and BMW. Notably, Mercedes experienced a drop in sales of more than 25% from the previous year.

The implications of this report are promising for the electric vehicle market in Germany, which could spell good news for brands like Polestar and Lucid, both of which began vehicle deliveries in 2020 and 2021, respectively.

Polestar has already made strides in Germany, selling 2,631 vehicles (including hybrids) in 2021—an impressive 153.2% increase from the previous year. Meanwhile, Lucid Motors has focused on the U.S. market but plans to expand to Europe by the end of 2022, with Germany being a strong candidate for their initial market entry.

While the U.S. remains a key market for EV manufacturers, the advancements in Germany's adoption of electric vehicles in 2021 position it as an attractive destination for expanding their presence.

As of the time of writing, Polestar (GGPI) shares were priced at $11.27, and Lucid Motors (LCID) shares were at $41.18.

This video titled "Why Lucid Cars Are Not Selling As Well As Polestar Cars?" delves into the reasons behind the differing sales performances of these two electric vehicle brands. It provides insights into market dynamics and consumer preferences impacting their success.

The video "Top 5 Countries with the Most ELECTRIC VEHICLES | RANKD EP 1" offers an overview of global electric vehicle adoption trends, highlighting key countries leading the transition to electric mobility.

Disclaimer: The author is not a financial advisor. The views presented are for educational and entertainment purposes only and do not constitute specific investment advice. Always conduct your own research and invest cautiously. The author holds a small position in LCID and GGPI at the time of publication.

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