Will Electric Vehicles Reach 50% Market Share In US By 2030? New Data Says Yes

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What Happened: As states like California look to phase out gas-powered automobiles in favor of electric vehicles, a new report from Recurrent Auto shows that the entire United States is on pace of hitting a critical 50% milestone by 2030.The new report sees U.S.market share hitting 15% by the end of 2025, as reported by Teslarati.

Recurrent Auto cites the International Energy Agency in its report.The IEA expects U.S.electric vehicle sales to hit 9.5 million to 9.6 million units in 2030, up from a previous estimate of 8.3 million to 8.4 million units.

States working on zero-emissions targets and improved tax credits are also listed as reasons for increased optimism for the electric vehicle market share improving over time.

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Author / Journalist: Chris Katje

Category: Technology

Markets: United States

Topics: Trading Ideas US88160R1014 Tech Model Y TSLA Top Stories Chevrolet Tesla Model Y R1T Mobility US3453708600 Stories That Matter Electric vehicles News RIVN US37045V1008 Tesla Model 3 GM F Benzinga

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-15 @ 21:34:32 (1 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 667 words

Reading Time: 4 minutes read

Sentences: 29 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 21637650

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