France Automotive High Performance Electric Vehicles Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 8.29 Billion |
| Market Size (2029) | USD 12.66 Billion |
| CAGR (2024 - 2029) | 12.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
France Automotive High Performance Electric Vehicles Market Analysis
The France Automotive High Performance Electric Vehicles Market size is estimated at USD 8.29 billion in 2024, and is expected to reach USD 12.66 billion by 2029, growing at a CAGR of 12% during the forecast period (2024-2029).
France is one of the most significant countries in the European automotive industry. French consumers are highly receptive to new energy vehicles. Thus, companies are focusing on establishing a nationwide distribution network and launching new models.
In June 2023, companies like Renault and Citroën announced plans to launch an electric model with a base price of less than EUR 25,000 in the European market in early 2024. This small electric car will be offered in France and the United Kingdom, among other countries.
Growing awareness of vehicle emissions, lower operating and maintenance costs, and increasing government initiatives to encourage the use of electric vehicles may drive the growth of high-performance electric vehicles in France. The growing demand for these types of vehicles is primarily due to the increasing popularity of racing events worldwide.
An electric high-performance vehicle (EHPV) is powered by electricity and equipped with advanced EV powertrain components and Li-ion batteries with high energy density. The government is also offering monetary benefits, such as zero to a very small registration fee and exemption in import, purchase, and road tax.
The automotive manufacturers’ strategy to work with local market experts led the companies to form partnerships with carefully selected dealers in France. Authorized dealers are opening service and sales stores, enabling the brand to provide customers with high levels of service, quality, and efficiency.
Companies are also focusing on the expansion of charging infrastructure across the country. In October 2023, during the recent inauguration of TotalEnergies’ fifth 100% electric service station, the Chairman and Chief Executive Officer of TotalEnergies, Patrick Pouyanné, stated that the company has installed over 1,000 high-power chargers (HPC) for electric vehicles (EVs) across France. The French company aims to reach a target of 500 stations by 2026.
Thus, such factors are expected to positively impact the market’s growth in the coming years.
France Automotive High Performance Electric Vehicles Market Trends
Battery Electric Vehicles Hold the Highest Share
Advancements in battery technology and rising consumer preference for availing battery electric vehicles (BEVs) with higher mileage capacity per hour of charge are aiding the demand in the battery electric vehicles segment.
Countries worldwide are witnessing increased demand for fuel-efficient and low-emission vehicles. The limited range of electric vehicles is a major factor restraining the market's growth. OEMs have started manufacturing electric cars with a higher mobility range that goes beyond 200 miles on a single charge.
Additionally, the aggressive push by the French government to promote the adoption of BEVs to curb carbon emissions is fueling the demand for battery electric vehicles.
In September 2023, new cash incentives were announced to help consumers purchase a BEV. These incentives were expected to be rolled out in France as of January 2024, aiming to support French and European car manufacturing industries in their competition with Chinese rivals.
The battery electric vehicles segment of the market is expected to witness rapid growth due to the growing preference of auto manufacturers to expand their product portfolios to BEVs.
In May 2023, France launched its first factory for EV batteries, taking a big step in its race to build an industry dominated by China.
Similarly, by 2030, Toyota Corporation announced its plans to offer at least 30 BEV models and sell around 3.5 million BEVs a year globally. In Europe, including France, the BEV lineup will likely expand to 10 models by 2025.
Thus, such developments in the market may lead to the battery electric vehicles segment holding the highest share.
Passenger Cars Hold the Highest Share in the Market
Passenger cars have gained immense popularity among drivers over the past few years due to features such as stylish design, compact size, and economic value. Passenger cars are the most common mode of transportation in many advanced countries. The improving lifestyles, increasing purchasing power and disposable income, rising brand awareness, and growing economy are leading to changes in customer preferences worldwide, resulting in high sales of passenger cars.
Over the long term, factors such as government policies to boost EV sales may drive the EV market's growth. Several countries, including France, are implementing a Zero-Emission Vehicle (ZEV) program and have passed laws to transit the entire fleet of vehicles for public transport to be electric by 2050.
In the France 2030 investment plan framework, the French government plans to invest USD 2.75 billion to support the production of nearly two million electric and hybrid vehicles.
Automakers are also adopting strategic moves, building new production plants, making huge investments in R&D activities for advancements of EV production, and focusing on new launches.
In October 2022, BYD announced the launch of its passenger car range at the Paris Motor Show. It launched five models in France, and several key dealerships were appointed in strategic regions of the country.
Similarly, in June 2023, MG Motor, a unit of Chinese automaker SAIC Motor, announced a new leasing offer whereby drivers in France can get the company’s MG4 electric car for EUR 99 (USD 107.6) a month.
Such developments in the market are expected to propel the growth of passenger cars in France in the coming years.
France Automotive High Performance Electric Vehicles Industry Overview
The French automotive high-performance electric vehicles market is consolidated and led by globally and regionally established players. The companies adopt strategies such as new product launches, collaborations, and mergers to sustain their market positions.
- In April 2023, Renault Group and Verkor, the European pioneer in low-carbon batteries, signed a long-term commercial partnership to supply batteries for electric vehicles. Verkor will supply Renault Group with the equivalent of 12 GWh of batteries each year.
Some of the major players in the market include BMW Group, General Motors, Toyota Motor Corporation, Tesla Inc., and Nissan Motor Corporation.
France Automotive High Performance Electric Vehicles Market Leaders
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Nissan Motor Corporation
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Tesla, Inc.
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Toyota Motor Corporation
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General Motors
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BMW Group
*Disclaimer: Major Players sorted in no particular order
France Automotive High Performance Electric Vehicles Market News
- November 2023: Being one of the first of its kind in the Hauts de France region, the AESC Gigafactory project announced its plans to contribute to accelerating France’s energy transition and decarbonization efforts and reindustrialization by scaling up the battery technology production required for the accelerating pace of vehicle electrification.
- June 2023: BYD announced the launch of five new models in France, including the BYD Seal. The company also launched multiple outlets with trusted partners in France to operate a nationwide distribution network.
- December 2022: Bugatti's parent company, Rimac, announced that the next upgrade of the Bugatti Chiron will feature a hybrid electric powertrain.
France Automotive High Performance Electric Vehicles Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Government Policies to Boost Sales of Electric Vehicles
4.2 Market Restraints
4.2.1 High CapEx Related to EV Infrastructure
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Propulsion Type
5.1.1 Plug-in Hybrid Electric Vehicles
5.1.2 Battery Electric Vehicles
5.2 Vehicle Type
5.2.1 Passenger Cars
5.2.2 Commercial Vehicles
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 BMW AG
6.2.2 Daimler AG
6.2.3 Ford Motor Company
6.2.4 Nissan Motor Co. Ltd
6.2.5 AB Volvo
6.2.6 Isuzu Motors Ltd
6.2.7 Stellantis NV
6.2.8 Toyota Motor Corporation
6.2.9 Tesla Inc.
6.2.10 Volkswagen Group
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
France Automotive High Performance Electric Vehicles Industry Segmentation
An automotive high-performance electric vehicle can be distinguished from other electric vehicles as it offers a longer range of distance, i.e., over 150 miles, on a single charge, high acceleration, and the ability to attain a speed of over 90 miles/hour with faster acceleration of 0-60 miles/hour.
The French automotive high-performance electric vehicles market is segmented by propulsion type and vehicle type. By propulsion type, the market is segmented into plug-in hybrid and battery electric. By vehicle type, the market is segmented into passenger cars and commercial vehicles. The report offers market size and forecasts in terms of value (USD) for all the above segments.
| Propulsion Type | |
| Plug-in Hybrid Electric Vehicles | |
| Battery Electric Vehicles |
| Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
France Automotive High Performance Electric Vehicles Market Research Faqs
How big is the France Automotive High Performance Electric Vehicles Market?
The France Automotive High Performance Electric Vehicles Market size is expected to reach USD 8.29 billion in 2024 and grow at a CAGR of 12% to reach USD 12.66 billion by 2029.
What is the current France Automotive High Performance Electric Vehicles Market size?
In 2024, the France Automotive High Performance Electric Vehicles Market size is expected to reach USD 8.29 billion.
Who are the key players in France Automotive High Performance Electric Vehicles Market?
Nissan Motor Corporation, Tesla, Inc., Toyota Motor Corporation, General Motors and BMW Group are the major companies operating in the France Automotive High Performance Electric Vehicles Market.
What years does this France Automotive High Performance Electric Vehicles Market cover, and what was the market size in 2023?
In 2023, the France Automotive High Performance Electric Vehicles Market size was estimated at USD 7.30 billion. The report covers the France Automotive High Performance Electric Vehicles Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the France Automotive High Performance Electric Vehicles Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
France Automotive High Performance Electric Vehicles Industry Report
Statistics for the 2024 France Automotive High Performance EVs market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. France Automotive High Performance EVs analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
