by Areej Fatima . Nov 03, 2022
Source: Inside EVs
About two-thirds of the US market for all-electric vehicles are owned by Tesla. Sales of electric vehicles would be meager in the nation without the Texas-based automaker. Additionally, the destinations of those automobiles demonstrate the significant fragmentation of the US market.
According to a study from the California governor's office on developing the state's electric vehicle market, around 18% of all new automobiles sold there are currently entirely electric.
Only 6% of new cars sold in the nation are electric vehicles. With over 250,000 of the 576,000 electric vehicles (EVs) sold in the US so far in 2022 being sold in California, that statistic would also be significantly lower without the Golden State.
New EV models will help, but other factors must improve for broader adoption. Better EV infrastructure is the most critical factor. Outside of California, Tesla is succeeding, but the company enjoys a robust Supercharger network, whereas non-Tesla EVs still face infrastructure challenges.
The good news is that a lot of investment is being made in the US to increase EV charging, although it can take some time before the results are seen.
2023 will be a significant year for electric vehicles in California as the state continues to make tremendous advancements. You can envision them finishing 2022 at 20% and almost tripling that the following year.
For years, the growth of the EV market has been underestimated. A lot will be aided by introducing numerous new EV models in 2023, especially the electric pickup truck.
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