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Slow Start For U.S. Electric Vehicles, But Times Are Changing



  • The US is lagging behind in the electrification of new cars.
  • While new government policies could help to close the gap, a full shift to electric vehicles will take many years and require massive investment.
  • The government's aim for EVs to make up 50% of new sales by 2030 seems challenging, but large car makers have even bolder ambitions beyond this decade.

Electric cars are charging in station

baona/iStock via Getty Images

By Rico Luman, Coco Zhang, Oleksiy Soroka, CFA

US lags China and Europe in electric vehicle uptake

The future of cars is electric. But while the US is home to the world’s largest electric car manufacturer - Tesla (

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Comments (13)

PT Larry profile picture
Thanks for the article.
Lol at it reaching 34% by 2030.
It will reach 34% of new sales by 2025.
Electric pickups will be the game changer.
mistydoc profile picture
Excellent article on a fascinating subject. Electric vehicles and the infrastructure to support them are truly revolutionary yet only in their nascent stage. Solar will go along with this revolution. It will take time and money but Musk’s vehicle-to-grid concept is the future. Glad to already own two EVs, powered by my solar roof panels together with my battery backup system. Bye bye to the gas station and the aging grid in my area. Businesses can do the same in most of the US. Massive job producer.
Bad_Andy profile picture
Got no use for BEVs.
Gimme a V8 that'll last over 20 years and 300,000 miles.
Ramon_13 profile picture
@Bad_Andy 300k miles of 4 or 5+ gallon of gas. Woah that's alot of wasted money to fuel it up
mistydoc profile picture
@Bad_Andy Have you ever driven an electric vehicle? Once you do, especially if you own one with all of the advantages, you’ll never go back to ICE dinosaurs.
@Bad_Andy It doesn't mater what you think the future is always in what the youth want, not the elders. The Z and Millennial generations will determine the car of tomorrow, not the stubborn gas guzzling old generation drivers. And that car will be most likely, be EV's. That is true with all technology in the world, Don't be a old fool in the new world. I am also an old timer, but a smart one, that has faith in the youth and tech.
vooch profile picture
Solid article , excellent

2 Corrections;
1) Toyota is the largest Electric car manufacturer. Tesla is the leading battery electric car manufacturer.

2) car ownership per 1,000 population
624 Canada
573 Austrailia
560 Germany
488 England
488 Japan
488 France
408 USA
328 Russia
255 Mexico
mistydoc profile picture
@vooch PHEVs are nice—a start—but newer generation BEVs are true EVs, and Toyota hasn’t been in the game up to now.
vooch profile picture

Don‘t quite get what you mean
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