According to the Zhitong Finance APP, Kaiyuan Securities released a research report stating that in August, the new energy vehicle market in nine European countries maintained high growth, with a continuous increase in penetration rates. In August 2025, the sales of new energy vehicles in these nine European countries reached 176,000 units, a year-on-year increase of 41.2%, with a new energy penetration rate of 31.4%, up 8.3 percentage points year-on-year. The European Parliament voted to pass an amendment to the carbon emission assessment, originally planned to tighten carbon emission assessment targets in 2025, now changed to assess the average value over the three years from 2025 to 2027, delaying the timeline but maintaining the overall trend. Additionally, various automakers have previously launched new generation pure electric platforms to respond to the upcoming tightening assessment requirements, and new models are expected to drive the growth of the European electric vehicle market.
<h2>Key Points from Kaiyuan Securities:</h2>
Sales of new energy vehicles in nine European countries reached 176,000 units in August 2025, a year-on-year increase of 41%
In August, the new energy vehicle market in nine European countries maintained high growth, with a continuous increase in penetration rates. In August 2025, the sales of new energy vehicles in these nine European countries reached 176,000 units, a year-on-year increase of 41.2%, with a new energy penetration rate of 31.4%, up 8.3 percentage points year-on-year. Among them, BEV sales were 114,000 units, a year-on-year increase of 32.3%; PHEV sales were 62,000 units, a year-on-year increase of 61.5%.
Germany
With a low base in the previous period, the growth of electric vehicles in Germany accelerated year-on-year in August. In August 2025, BEV sales in Germany reached 39,000 units, a year-on-year increase of 45.7%; PHEV sales were 24,000 units, a year-on-year increase of 76.7%.
United Kingdom
The UK has restarted BEV subsidies, and as of August, about 25% of BEV models have qualified for subsidies, which is expected to continue to increase demand in the coming months. In August 2025, BEV sales in the UK reached 22,000 units, a year-on-year increase of 14.9%; PHEV sales were 9,800 units, a year-on-year increase of 69.4%.
France
The overall automotive market and BEV sales in France are experiencing a year-on-year decline, but BEV sales in France recovered year-on-year in July and August, with a BEV penetration rate of 19.4% in August, a new high for the year. This is partly due to the low base in France during this period in 2024 (as it was before the end of social leasing contracts and the launch of Citroën e-C3 and Renault 5), and partly due to the increase in the amount of ecological bonus subsidies. The French social leasing program is expected to return in September, and stronger sales of electric vehicles in France are anticipated after September. In August 2025, BEV sales in France reached 17,000 units, a year-on-year increase of 29.6%; PHEV sales were 6,000 units, a year-on-year decrease of 5.0%.
Spain
The continuous launch of new models in various sub-markets, promotional activities by brands, the MOVES III subsidy program, and the extension of a 15% personal income tax reduction for purchasing electric vehicles are collectively driving the electrification transformation. Spain is also hoping to attract relevant investments and is committed to becoming an investment center.
Investment Recommendations
(1) Lithium batteries: Recommend CATL, Yiwei Lithium Energy, SUNWODA; benefiting targets include Zhongxin Hang, Guoxuan High-Tech; (2) Lithium battery materials: Recommend Yuneng New Energy; benefiting targets include Fulian Precision, Wanrun New Energy; Rongbai Technology, Easpring, Zhongwei Co., Ltd., Xiamen Tungsten New Energy, Huayou Cobalt; Xingyuan Materials, ENERGY TECHNOLOGY; Tianci Materials, New Zhoubang; Tiannai Technology;
(3) Lithium battery structural components: Recommended Minglida; Beneficiaries: Keda Li, MINTH GROUP, and Hesheng Co., Ltd.; (4) Power/electric drive systems: Recommended Weimaisi, Fute Technology; Beneficiaries: Xinrui Technology, Huangshan Gujie; (5) Automotive safety components: Beneficiaries: Sinofuse Electric, Zhejiang Rongtai; (6) Charging piles and charging modules: Recommended Tonghe Technology; Beneficiaries: Shenghong Co., Ltd., Youyou Green Energy.
Risk Warning: The risk of European macroeconomic growth being lower than expected and intensified competition leading to a decline in profitability

301031

00425

002812

301358

300073

300207

KaiYuan Securities released a research report indicating that in August 2025, the sales of new energy vehicles in nine European countries are expected to reach 176,000 units, a year-on-year increase of 41.2%, with a penetration rate of 31.4%. In response to the impending tightening of carbon emission assessments, various automakers are launching new generation pure electric platforms, and new models are expected to drive growth in the electric vehicle market. Sales of electric vehicles in Germany and the UK have both seen significant growth, while BEV sales in France have resumed growth in July and August

Zhitong

Sinofuse Electric

MINTH GROUP

ENERGY TECHNOLOGY

Yuneng New Energy

Easpring

SUNWODA

Open Source Securities: New models are expected to drive the growth of the European electric vehicle market, with the penetration rate of new energy vehicles continuing to rise