A New Era Begins
E-mobility is no longer a promise of the future – it is the reality of the present. In 2023, around 14 million electric vehicles (EVs) were sold globally, accounting for 18% of all new car sales. The market is uneven: China dominates with a 60% share, followed by Europe with 25%, and the United States with 10%. These regions not only lead in current EV sales and growth trends, but also represent two-thirds of all global car sales.
Globally, 95% of electric vehicles are concentrated in Asia, Europe, and North America, where 87% of all vehicles in circulation are also found.
In 2024, 17 million EVs were sold worldwide. While total volume increased compared to 2023, sales in Europe slightly declined.
Source: ACEA, www.acea.auto
Price Parity: Still a Distant Goal
Although EV prices are falling globally, they are still more expensive than internal combustion engine (ICE) vehicles in most markets. In China, however, over 60% of EVs sold in 2023 were cheaper than their ICE counterparts.
In Europe and the U.S., EVs remain premium products, partly because two-thirds of the market consists of large SUVs and pickup trucks.
Experts predict that price parity outside China may not be achieved before 2030, depending heavily on raw material prices, production volumes, and regulatory environments.
Smaller, Cheaper, More Popular
Chinese manufacturers are gaining a growing share of the global market, especially through smaller, more affordable models. These vehicles are spreading rapidly not only in China but also internationally, posing a serious challenge to traditional automakers. While EVs remain expensive in Europe and the U.S., many Chinese EVs are already cheaper than average ICE vehicles.
Used EV Market: A New Opportunity for the Masses
The secondary market for EVs is also expanding rapidly. In 2023:
As used EV prices fall, they become accessible to broader segments of the population – especially in countries where new EV prices remain a barrier to mass adoption.
Norway: A Laboratory of the Future
Among Nordic countries, Norway is the most advanced: over 90% of new car sales are electric, and the government aims to allow only zero-emission vehicles by 2025. This is not only an environmental goal but also a strategic economic shift – from an oil-based economy to a low-emission, tech-driven model.
Hungary: Green Plates, Grey Reality?
By the end of 2024, Hungary had:
While promising, this still represents a modest share of the total vehicle fleet (5.2 million vehicles, including 4.2 million passenger cars):
The average age of Hungarian passenger cars is 16.2 years, one of the highest in Europe – indicating a slow fleet renewal, which would require significant public and private incentives.
In 2024, 233,000 passenger cars were registered in Hungary – about half were new, the other half imported used vehicles. After slow growth, 7% of newly registered cars were fully electric.
Hybrids now account for a larger share of new car sales than petrol and diesel combined.
Despite the dynamic growth in green license plates, Hungary still lags behind the EU average. Countries like Austria, the Netherlands, and France are far ahead, where EVs are becoming mass-market products thanks to incentives, tax benefits, and advanced charging infrastructure.
Source: Hungarian Central Statistical Office
Source: Ministry of Interior
Charging Infrastructure – Key to Progress or a Bottleneck?
One of the biggest challenges in EV adoption is infrastructure development. By the end of 2024, Hungary had:
Annual growth exceeded 26%, which is promising, but distribution remains uneven: most chargers are in Budapest and Pest County, while rural areas still face major challenges.
The EU’s AFIR regulation (Alternative Fuels Infrastructure Regulation), effective from 2025, requires high-power chargers every 60 km along major transport routes. This will place significant pressure on national infrastructure development – the question is whether Hungary can meet these expectations.
The race is already on: MVM Mobiliti, MOL Plugee, and DrivE.ON are the largest players in the domestic market. More and more mobile apps offer dynamic pricing and real-time charger maps, but the system remains fragmented, and switching between providers is often complicated.
How Does the User See All This?
An interesting detail is that among Hungarian EV owners, real-world experience has proven convincing: 91% of them would choose an electric car again. The most frequently mentioned advantages include:
Low operating costs (especially if home charging is feasible),
The list of disadvantages is also well known:
Some of these problems are technological (e.g., battery performance), while others are psychological or educational in nature. One thing is certain: the shift to electric mobility requires not only technical adaptation, but also a mental shift and a new way of thinking – at least initially, it demands more conscious planning.
Market Players, Strategic Directions, and Sustainability Dilemmas
Automakers are responding to change with different strategies. Tesla continues to be a pioneer in pure electric vehicles, while Toyota sees the future in the gradual development of hybrids. European manufacturers like Volkswagen and Renault are entering the EV market aggressively, developing new model families under their own brands.
In Hungary, battery production has become one of the most important economic sectors: significant investments have been made in Debrecen, Iváncsa, and Komárom, primarily by Asian companies (e.g., CATL, Samsung SDI). These projects promise job creation and GDP growth but also raise serious sustainability concerns – such as water usage, soil contamination, and whether local communities are involved or neglected. All these factors can affect the public and user perception of electric vehicles.
What’s Next? Breakthrough or Stagnation?
It’s clear that the rise of e-mobility in Hungary is no longer just an opportunity but an inevitable trend: EU regulations, global market trends, and changing consumer habits all support this direction. However, a true breakthrough requires coordinated, complex action – and at least the following conditions must be met:
Hungary faces two possible paths: either it follows passively among larger players, or it performs well in the region through a well-thought-out and deliberate strategy, harnessing the opportunities and benefits offered by the sector. As this summary illustrates, e-mobility is not only a technological challenge but also an economic and social opportunity.
So the question is not whether it’s worth embarking on the path of e-mobility, but rather: when and how can we truly take advantage of the benefits this industry has to offer?
To be continued: Charging the Future – What Can E-Mobility Deliver Today?
Source: Market Assessment of E-Mobility – Summary Report, NM Innovation, 2025