Electric vehicles (EVs) have been gaining popularity over the past decade, with Tesla leading the charge in the United States. According to a recent report from Edmunds, EVs have made up 5.6 percent of the US car market in 2020 and are projected to reach 8.4 percent by 2022 – that’s a 50% increase! This growth is being driven by Tesla and their commitment to making electric vehicles accessible for all. In this blog post, we will explore how Tesla has been driving the growth of EVs in the US and what this means for the future of electric vehicles. We will also discuss ways in which other carmakers can leverage this trend and capitalize on its potential.
The global market for electric vehicles
The global market for electric vehicles (EVs) is growing rapidly. In 2017, EVs made up 1.1 percent of the US car market, and that number is expected to increase to 2.6 percent by 2025. The majority of EVs on the road today are passenger cars, but the market is also growing for electric buses, trucks, and motorcycles.
One of the main drivers of the EV market is government policy. Many countries have set targets for increasing the number of EVs on the road, and are offering financial incentives to buyers. For example, in the US, buyers can receive a federal tax credit of up to $7,500 when they purchase an EV.
Tesla is one of the leading manufacturers of EVs, and its Model S was the best-selling EV in the US in 2017. Tesla’s success has helped to increase consumer awareness of EVs and dispel some of the myths about them. For example, many people believe that EVs are expensive to buy and maintain, but this is not always the case.
There are a number of challenges that need to be overcome before EVs can become mainstream. One is range anxiety – the fear that an EV will run out of power before reaching its destination. This can be addressed by increasing the number of charging stations and developing better batteries with longer ranges. Another challenge is affordability – although prices are falling as technology improves, EVs still tend to be more expensive than traditional petrol or diesel cars. However, with continued advances in
The rise of Tesla
In 2020, EVs made up 2.4 percent of the US car market. This is a significant increase from 2019, when EVs made up only 1.1 percent of the US car market. The rise in EV sales can be attributed to Tesla, who accounted for almost 80 percent of EV sales in 2020.
Tesla’s success is due to a number of factors, including its innovative technology, strong branding, and aggressive marketing strategy. Tesla has also benefitted from government incentives that have made EVs more affordable for consumers. As battery technology continues to improve and charging infrastructure becomes more widely available, it’s likely that EVs will continue to gain market share in the coming years.
As Tesla’s Model 3 continues to dominate the US EV market, other companies are also seeing success with their own electric car offerings.
Chevrolet’s Bolt EV was the second best-selling EV in the US in 2018, and its sales have continued to grow in 2019. The Bolt EV is a affordable all-electric car with a range of over 200 miles.
Ford’s Focus Electric is another popular option, and the company has plans to introduce an all-new electric SUV called the Mach-E later this year.
Other companies making electric cars include Audi, BMW, Hyundai, Jaguar, Kia, Mercedes-Benz, Nissan, and Volvo.