Explosive Growth in Electric Vehicle Sales in Belgium During 2024, Projected 50% of Battery-Electric Vehicle Purchases by Corporate Fleets in 2025

In the heart of Europe, Belgium is making significant strides in the sustainable transport revolution. Experts predict that by 2025, electric battery vehicles (BEVs) will represent at least 50% of corporate fleet sales, a promising sign for the country's commitment to a greener future.

This shift is not without challenges. Consumer hesitation, concerns over battery degradation, and high depreciation rates are key factors influencing the slow uptake of secondhand BEVs. However, Belgium's success in the EV market is hinged on strong government policies, including tax incentives for corporate fleets and regional subsidies.

Over the past decade, BEV registrations in Belgium have consistently grown, reaching a record high in 2024. Despite a 6% decline in the total number of new car registrations that year, compared to 2023, electric and hybrid vehicles accounted for 52.3% of all new car registrations for the first time, surpassing traditional internal combustion engine (ICE) vehicles.

Corporate fleets, in particular, have played a pivotal role in this growth. They accounted for 86.7% of new BEV registrations in 2024, with a total of 127,750 new fully electric vehicles registered, a 36% increase compared to the previous year. BEVs alone made up 28.5% of the market in 2024, overtaking plug-in hybrids (15%).

The resale value of BEVs has dropped by 30-40% within four years, making it a less attractive option for used car buyers. To sustain momentum, policymakers and industry leaders must focus on expanding charging networks, facilitating grid integration, and ensuring stable long-term incentives.

The number of charging points in Belgium increased by 72% in 2024, reaching a total of 83,111. This growth in infrastructure is crucial for addressing consumer concerns and fostering a more welcoming environment for electric vehicles.

However, the secondhand market for BEVs in Belgium was still dominated by internal combustion engine vehicles in 2024, with BEVs accounting for only 3.2% of the market. This presents an opportunity for policymakers to address and address the challenges faced by the secondhand market to further accelerate the adoption of electric vehicles.

Industry experts warn against a "stop-and-go" approach to EV policies, emphasizing the need for a stable and predictable policy framework. The most likely car factory to produce the first budget-friendly battery electric cars in Belgium by 2025 is the Volkswagen (VW) plant, due to the production relocation from China to Belgium aiming to avoid higher EU tariffs.

Bart Massin, Chairman of EV Belgium, stated that Belgium's EV journey demonstrates the importance of consistent policy support and innovative infrastructure solutions. As the country continues to invest in its EV market, it has a unique opportunity to reinforce its position in the sustainable transport revolution, benefiting both the economy and the environment.

Explosive Growth in Electric Vehicle Sales in Belgium During 2024, Projected 50% of Battery-Electric Vehicle Purchases by Corporate Fleets in 2025