top of page

What happened to Electric Mobility in 2023 in Israel and the rest of the world, and what to look for in 2024.

It’s no secret that transportation is one of the big culprits of CO2 emissions. In fact, the sector accounted for about 20% of global greenhouse-gas emissions in 2022, with 48% of the total coming from private cars aside freight trucks, public and shared transportation.

Europe has been leading the electrification trend, with 8% of registration of new cars are EVs. Several countries have announced timelines for bans on new vehicles with internal combustion engines (ICEs) as well as put forward plans for subsidizing the EV market: for example, the US’s 2021 Bipartisan Infrastructure Investment and Jobs Act allocates $7.5 billion to electric charging infrastructure in the United States.


Similarly, Israel’s government has set ambitious goals to cut down on air pollution and carbon emissions, projecting 1.3 million vehicles on its roads will be electric by 2030, taking up a 30% share of the auto market.

Looking back at 2023 and the mobility market, what were global trends.

Taking advantage of a recent publication by Autonomy Paris and the recent CES 2024, we’d like to share some insights on Israel’s relative positioning.


In an increasingly competitive BEV (Battery Electric Vehicles) market, old and new players strive for market share.

  • Top markets: China remains the largest BEV market with 25% of market shares, followed by Europe (sales up by 50%, representing 14% market share) and the US (also up by 50%, for 7.5% market share).

  • Price: While the price gap is narrowing, prices for electric vehicles remain higher than for regular cars but vary dramatically across region: for instance, buying an electric car in the US is twice as expensive than in Europe.

  • Players: Tesla still dominates the US market, but is losing ground in Europe, where VW Group is the leader, competing with Stellantis for second place, with 15% market share. Tesla’s leadership isn’t only in terms of sales, but also in setting charging standards: Ford and GM will both be using Tesla’s charging connector (renamed North American Charging Standard or NACS) starting in 2025.

  • Charging: As in other sectors, Europe is careful not to leave the monopoly to a foreign player (in this case, Tesla), prompting the creation of a JV that includes Stellantis, BMW Group, GM, Honda, Hyundai, Kia and Mercedes, aiming to install over 30k high power stations in the USA and Canada. 

  • Incentives: Europe is trying to boost both local production and consumption of BEV by introducing new regulations and incentives, notably in regards to emissions, thus possibly reducing China’s 6% market share there. In the US too, Chinese players’ slice’s is decreasing, following the adoption of the 2021 Inflation Reduction Act which has tremendous impact on the green economy overall.


Where does Israel stand?


  • Israel’s appetite for EVs has been growing in recent years, with still room to grow: EVs almost tripled their share of the Israeli new vehicles market, to 16.3% of deliveries in the first half of 2023. According to Israel Vehicles Importers Association, the demand for electric vehicles continues to show an upward trend in 2023, increasing by 6% in Q1 2023 compared to Q4 2022, 11% compared to Q1 2022, and 15% compared to Q4 2020. 

  • The Israeli market is seen by the Chinese as a sandbox to test all their EV vehicles. While 73% of the EV deliveries in the first half of 2023 came from four leading brands: Geely, BYD, Tesla, and Hyundai, the popularity of Chinese brands is growing every year, accounting for more than 62% of all EV sales in the first three quarters of 2023 (as reported by the Israel Vehicle Importers Association), with an influx of new brands continuing to enter the Israeli market, such as the luxury Zeekr.

  • The Israeli autotech sector has weathered the high-tech crisis in 2023 better than others, registering impressive funding rounds, exits and strategic partnerships. In May 2023 alone, Qualcomm acquired Israeli chipmaker Autotalks for an estimated $350-400M and ADAS startups Foretellix and Adasky raised a combined $73 million over two days.


Autonomy Paris will take place on March 20 & 21, and iKare Innovation will be there, in person.

Autonomy was founded in Paris in 2016, spurred by the Paris Agreement (COP21), as a platform for promoting sustainable mobility solutions and fostering collaboration across the industry. Since, It organizes a yearly event Autonomy Paris which became the Autonomy Mobility World Expo.


iKare Innovation has been representing Valeo in Israel since 2016, fostering interesting and fruitful partnerships with the Israeli ecosystem.

Let us know if you wish to meet us in Paris March 20-21:




bottom of page