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Recent data from Recurrent Auto suggests the U.S. is on track to reach 50% electric vehicle adoption by 2030. Despite concerns about slowing EV sales, revised projections show a promising path toward this target, with significant environmental benefits expected.
U.S. Advances Toward Climate Goals with 50% EV Adoption by 2030, Inspiring Environmental Optimism
According to recent data (via Teslarati), the United States is making substantial progress in meeting its upcoming climate goals, primarily through the adoption of electric vehicles (EVs). This information is intended to inspire optimism among stakeholders regarding the potential environmental consequences of EV adoption.
Data published by Recurrent Auto on July 10 suggests that the United States will adopt 50% of electric vehicles by 2030. Despite recent sensationalist headlines concerning a significant EV sales deceleration, the research indicates that multiple revised EV sales projections still indicate a path to the 50% target.
The firm's internal market forecasts also indicate that the United States may reach the 15-percent "mass adoption phase" of electric vehicle adoption by the conclusion of 2025. The report also references data from other organizations, including the International Energy Agency (IEA), which indicate that adopting battery-electric vehicles (BEVs) in the United States is expected to have similar results in the coming years.
IEA Predicts Tenfold Increase in Global EVs by 2030, Driven by Falling Battery Costs and New Models
According to the International Energy Agency (IEA), the current policies are anticipated to result in a nearly tenfold increase in global electric vehicle (EV) numbers by 2030.
The company also observes that battery costs have reached a new low and are expected to decrease by 40% between 2022 and 2025. In addition, the data includes information on forthcoming electric vehicle (EV) introductions, such as the BMW Neue Klasse, GMC Sierra EV, Hyundai Ioniq 7, Nissan Maxima EV, Rivian R2 series, and VW ID—Buzz, among others.
The report underscores the pivotal role of government incentive programs in driving the adoption of electric vehicles (EV). It also highlights the proactive stance of 17 states implementing ambitious zero-emissions targets, surpassing the more lenient federal guidelines. This information is intended to reassure stakeholders about the robust support for EV adoption.
Recurrent also predicted that the Tesla Model Y could become the best-selling vehicle in the world in 2023 in 2022. According to the company's Q4 2023 earnings call, the electric SUV achieved that designation, as evidenced by data from Jato Dynamics.
