Car market, Energy, Good for Business, Latvia, Transport

This year, Latvenergo will continue to develop the network of public charging stations to meet growing demand, Cikmacs said.

"Even though the number of electric automobiles is not yet high in Latvia, it is growing at an increasingly fast pace. According the Road Traffic Safety Directorate's (CSDD) data, at the beginning of 2019 there were 442 electric passenger cars registered in Latvia, but by the beginning of 2020 their number was 658, which is an increase of 49%. The trend is picking up in Latvia, and just like elsewhere in the world, it is driven by the availability of various models on the market, the autos are becoming more affordable, the distance they can go on a single charge is becoming significantly longer and the network of charging stations is expanding," the Latvenergo representative said.

According to Latvenergo's estimates, the number of electric vehicles might grow to 10,000 by 2025 and exceed 36,000 by 2030.

To ensure adequate charging opportunities, at least 1,000 public charging stations will be built in Latvia by 2025, with the Latvenergo chain of charging stations expected to be a substantial part of that network.

Latvenergo Group is one of the leading energy suppliers in the Baltics operating in electricity and thermal energy generation and trade, natural gas trade, electricity distribution services and lease of transmission system assets. Latvenergo is a state-owned company and the shareholder is the Economics Ministry.