Global automakers have also doubled down on pledges to offer EVs. General Motors says it will stop selling gas and diesel vehicles by 2035. Honda aims to have 40 percent of its North American car sales electric by 2030. Toyota says it’ll have 70 EV models available by 2025. That’s not even counting EV pioneer Tesla, which dominates the current market in the U.S. and accounts for 66 percent of all electric vehicle sales.
Electric vehicles comprised only 1.8 percent of all U.S. new vehicle registrations in 2020, but that number is rising fast. Analysts expect EVs will make up 3.5 percent of all new American vehicles in 2021. A recent IHS Markit study predicts that by 2025, electric cars will command 10 percent of the U.S. auto market.
The number of EVs on U.S. roads was about 1.5 million in 2020, and a recent study by The Brattle Group estimates that number will skyrocket to between 10 million and 35 million in 2030. Government-led green initiatives are pushing EV adoption hard, including those from the Biden administration. It appears like it’ll only be a matter of time before EV charging stations aren’t encouraged but actually mandated.
