The European Union Has Plans For an EV Future, But Are There Enough Batteries?

A new proposal by the EU would outlaw the production of internal combustion engine cars by 2035, but the supply chain itself might not hold up to the ambitious plan. 
Written by Allison Stone
Reviewed by Kathleen Flear
Jul 22, 2022
The
European Union
Parliament approved a ban on new
fossil-fueled cars
by 2035, but automakers question how realistic of a goal it is given that EV materials are
already in short supply
According to
Clean Technica
, the agreement came at the end of 16-hour bargaining session, but the reality of a gas-free future won’t happen overnight. 
Car ownership super app
Jerry
breaks down what this ruling means, the pros and cons of electric cars, and how automakers are preparing to meet green energy goals. 

A long road ahead to an EV future

Volkswagen’s
chief financial officer Varno Antlitz came out in support of the ruling, but presented a realistic attitude toward the ambitious plan. 
“It’s a challenging goal,” said Antlitz as reported by Clean Technica. “We think it’s doable. The most challenging topic is not ramping up the car plants. The most challenging topic will be ramping up the battery supply chain.”
Ahead of the ruling, Volkswagen had already announced its own goal to stop selling combustion engine cars by 2035, but not every automaker is on the same page. 
Stellantis CEO Carlos Tavares expects a shortage of batteries will hit the industry as soon as 2024, and that manufacturers will have to maintain EV sales while simultaneously building out battery production facilities. 

The conversation around EVs isn’t over

While the 2025 proposal has set a precedent for the industry, nothing is set in stone just yet.
The EU is also not the only government entity to propose an aggressive
ban on gas-powered cars
. Regardless, automakers and government agencies alike are beholden to the supply chain itself.
Theoretically, the EU proposal also doesn’t completely rule out ICE vehicles. Hybrid cars and any type of car running on sustainable fuels could comply. Oil companies themselves—which wield huge amounts of political and financial power worldwide—are also fighting hard against being written out of business. 

Will EVs ever be affordable?

Many caveats have plagued the EV industry since the onset of the COVID-19 pandemic, and high demand for precious metals like lithium, cobalt, nickel, and manganese are just the latest challenge in a series of setbacks for automakers. 
The key to mass adoption of electric cars is making them affordable, and the pricier they get, the less realistic they become for the average consumer. 
Regardless of how the next few years play out, eco and wallet-conscious consumers alike will be closely watching the industry for signs of hope. 
While EVs can save you tons of money on fuel and repair costs over time, they do also tend to be more expensive upfront and more expensive to insure than gas-powered cars. Let Jerry help close the gap by finding you find the best car insurance savings out there. 
Jerry is an app that helps you compare quotes from more than 55 top insurance companies in under a minute. As a licensed broker, Jerry takes care of your insurance needs from start to finish. And it monitors your insurance rate every six months, so you always know you’re getting the best deal.
icon
Compare Car Insurance Quotes For Free
Jerry automatically shops for your insurance before every renewal. Members save $872/year.
rating primary
4.7/5
Rating on App Store
Start saving money!
12,000+ Reviews
Trusted by 3.5M car owners like you
National General
Allstate
AAA
Aig
Chubb
ClearCover
CSE
Dairyland
DirectAuto
Elephant Auto Insurance
Kemper
Libertymutual
Gainsco
Mapfre
Mercury Auto
Metromile
Nationwide
Plymouth Rock
Progressive
State Auto
Safeco
Travelers
Metlife
Bristol West
National General
Allstate
AAA
Aig
Chubb
ClearCover
CSE
Dairyland
DirectAuto
Elephant Auto Insurance
Kemper
Libertymutual
Gainsco
Mapfre
Mercury Auto
Metromile
Nationwide
Plymouth Rock
Progressive
State Auto
Safeco
Travelers
Metlife
Bristol West

You might also be interested

Easiest way to compare and buy car insurance

√
No long forms
√
No spam or unwanted phone calls
√
Quotes from top insurance companies
Find insurance savings — it's 100% free