Europe could avoid importing 190 million barrels of oil each year by 2030, generating around €12 billion in annual savings if it achieves its EV targets, according to new analysis published today by E-Mobility Europe and Ember.
Achieving these savings is contingent on meeting the EU’s 2030 deployment targets of 35 million battery electric vehicles, 3 million commercial vehicles and 200,000 electric trucks on European roads.
The report said that with road transport accounting for two-thirds of total EU oil demand, a shift from internal combustion engine vehicles to electric vehicles is the “fastest, most efficient and most scalable way” to reduce consumption.
The benefits are already visible. In 2025, EU-registered battery electric vehicles displaced 57 million barrels of oil, avoiding the transfer of approximately €4 billion of wealth across the bloc’s borders. This year alone, 1 million new registered electric vehicles have reduced consumption by another 4 million barrels.
Chris Heron, secretary general of E-Mobility Europe, said: “Europe must decide: do we continue to relinquish our strategic autonomy to other regions, or act with laser focus to reap the full benefits of electric security?” As a continent, we must decide who we want to be, get back into the EV driver’s seat and ensure long-term sustainability.”
The report identifies five priorities that need to be implemented together to achieve complete electrical safety:
1. Rollout – Put more electric vehicles, vans and trucks on Europe’s roads.
2. Create and strengthen the electric vehicle industrial base in Europe.
3. Energy – make electricity an affordable fuel for transport
4. Flexibility – turn electric vehicles into energy assets
5. Protect – protect the digital foundation of mobility
The authors warn that deeper robustness is needed to avoid creating new dependencies. They point to the European Commission’s upcoming Electrification Action Plan as an important opportunity to implement a more focused strategy and put Europe back on track for irreversible electrification.
The analysis comes as a package of European car projects is being debated amid rising geopolitical tensions and energy price volatility, with campaigners warning that weakening electric vehicle targets will increase the continent’s dependence on imported oil.
The full report can be read here.