In Europe, electric vehicle (EV) policies and investment in manufacturing are driving EV sales growth and contributing to its climate ambition towards 2030 and beyond. In this study, we investigate manufacturers’ plans for producing EVs and batteries, and compare these to four possible EV sales scenarios in Europe towards 2030 and 2035. In each scenario, we project the required capacities and estimate the investment needs to meet different targets. If Europe targets a transition to about 60% new EV sales by 2030 (100% by 2035), planned EV production capacity of 4.8 million for 2030 would fall short of the needed 9.2 million in that year by about half. With tentative announcements included, the gap closes to 2.0 million. Results for batteries are more encouraging: firm manufacturer plans could meet most of our scenarios for 2030 targets, and tentative plans are fully adequate. Overall, more investments in EV production and policy support would be desired for more rapid scenarios.