EV Purchases Soar Ahead of New Tax

By Shimon B. Lifkin

Geely Geometry C. (Geely)

YERUSHALAYIM — The month of November is seeing record-breaking sales of electric vehicles (EVs) imported into Israel, according to Globes on Tuesday.

Nearly 6,000 new (EVs) will have been delivered this month, more than any comparable period in past years. EV deliveries accounted for 35% of all new car deliveries in November. Since the start of the year 23,000 EVs have been sold in Israel, Globes said.

Buyers are acting to beat the purchase tax rise set to take effect in January 2023.

Tesla has led the way in November with 2,300 EV deliveries.

But Chinese carmaker Geely was on top in overall 2022 EV sales, with 5,700 of its Geometry C EVs, taking a 25% market share.

In third and fourth place respectively are the Chinese company BYD and South Koreas’s Hyundai.

However, the surge in electric cars poses a challenge to Israel power grid.

Tadiran Group unit Aviem Tensor CEO Ran Abudi recently told the Kenese Group’s Israel Energy and Business Conference: “The rapid entry of electric vehicles – the rate of entry has doubled itself in the past year alone – will bring us to a situation in which there won’t be the electricity supply to allow charging of all the electricity vehicles in the country.

In order for it not to happen at the last minute in this way, it is important to remove the obstacles ahead of time and prepare for the situation. Today proper regulations do not exist in the field and people are installing charging points, without taking into account the supply situation in the building, and in the future this will result in a situation in which the electricity grid will collapse and in more extreme cases, human life will be endangered,” warned Abudi.

He urged expansion of the electricity grid: “Due to this situation, it is important to install storage systems that will allow the increase in supply of the existing electricity grid, or to manage the charging of electric vehicles in a smart way so that the electricity supply that each car will require can be reduced. I call on the regulator to arrange the issue, to set standards, to remove obstacles and to work in the fastest way so that we won’t reach such a critical situation. We have now reached a point in which it is very important to manage the electricity grid in the smartest possible way, in order to prevent damage to the future quality of life of all of us.”

To Read The Full Story

Are you already a subscriber?
Click to log in!