UK drivers now have 66% more electric vehicle options than last year, according to automotive analysts Cap HPI.
The company’s latest data reveals a dramatic expansion in EV choices throughout 2024, driven by established manufacturers growing their electric lineups and new brands entering the UK market.
The third quarter of 2024 saw 121 EV models available for purchase — a 39% increase from the same period last year. When accounting for different powertrain options and specification levels, the total number of EV variants reached 784, up 66% from 472 in Q3 2023.
This growth represents an extraordinary long-term shift in the market.
Since 2020, the number of brands selling EVs in the UK has nearly doubled from 22 to 43. Even more striking, the number of individual EV variants has increased by 626% — from just 108 in Q3 2020 to 784 in Q3 2024.
Several factors are driving this expansion, including the arrival of new manufacturers like BYD, established brands such as Mazda launching their first electric vehicles, and companies like Volkswagen, Kia and Polestar expanding their existing all-electric lineups.
Cap HPI’s PowerUP report highlights that recent market growth has shifted toward smaller, more affordable vehicles as manufacturers broaden their focus beyond premium segments.
“We’ve seen big shifts in the BEV market since 2020, the main reason for this being an unprecedented variety of dependable EV options, with around 132 new EV models available in the UK as of January, accounting for a third of all new cars available,” said Matt Freeman, managing consultant at Cap HPI.
Freeman noted that manufacturer discounts have helped stimulate EV sales. “The improving cost-effectiveness of EVs is also a major factor in increased demand, with some used models now matching or undercutting equivalent petrol models on price.”
This trend is expected to continue throughout 2025, affecting both new and used car markets.
“The number of manufacturers, models, and variants will continue to increase with numerous new electric vehicles slated for release in 2025,” Freeman explained. “This expanding variety includes SUVs, seven-seaters, compact city cars, and offerings from manufacturers new to the electric car market.”
The UK’s Zero Emission Vehicle (ZEV) mandate is a key driver behind this expansion, requiring 28% of new car sales to be zero-emission vehicles in 2025.
Chinese manufacturers like BYD and Leapmotor entering the UK market will likely further diversify available options.
Freeman added that the growing number of smaller, more affordable models — such as the Renault 5 and Citroen E-C3 — will create a more balanced profile for the EV market, which has historically been dominated by larger, more expensive SUVs.
