A quarter of new vehicle sales in U.S. could be electric by the end of 2025, according to Bloomberg analysis. Find out more here
That same society-altering shift is happening now with electric vehicles, according to a Bloomberg analysis of adoption rates around the world. The U.S. is the latest country to pass what’s become a critical EV tipping point: 5 per cent of new car sales powered only by electricity. This threshold signals the start of mass EV adoption, the period when technological preferences rapidly flip, according to the analysis.
In the case of electric vehicles, 5 per cent seems to be the point when early adopters are overtaken by mainstream demand. Before then, sales tend to be slow and unpredictable. Afterward, rapidly accelerating demand ensues. Thus the adoption curve followed by South Korea starting in 2021 ends up looking a lot like the one taken by China in 2018, which is similar to Norway after its first 5 per cent quarter in 2013. The next major car markets approaching the tipping point this year include Canada, Australia, and Spain.The analysis above is for vehicles that run on batteries only.
The U.S. and China mostly skipped plug-in hybrids and went straight to fully-electric vehicles, and the U.S. hasn’t yet crossed the 10 per cent threshold.
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