France Automotive High Performance Electric Vehicles Market Size (2024 - 2029)

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 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.