Analysis by Bloomberg revealed that electric vehicles now make up five per cent of new car sales in the United States, which is a critical tipping point for the market. If the U.S. follows trends set by other countries worldwide, adoption rates should accelerate quickly. The analysis suggests that technological preferences will rapidly flip and that EVs are on their way to mass adoption.
This was the path taken by China and Europe, which have already hit the crucial five per cent mark. Bloomberg looked at trends in 18 countries, suggesting that a quarter of all new car sales will be electric in the U.S. by the end of 2025, which is almost two years ahead of most major forecasts.
Under President Joe Biden, the U.S. has made considerable strides toward electrification. The administration calls for EVs (including plug-in hybrids) to make up half of the new vehicles by 2030. Government incentives and support have also been a necessary factor in every country that has crossed the EV tipping point.
