Read The Full Article On: Axios
Electric vehicle sales have taken off over the last decade, and full electrics have overtaken plug-in hybrids over the last five years, according to the Energy Department’s handy transportation “fact of the week” series.
Why it matters: Electric vehicles are growing, but still represent a tiny share of the roughly 17 million-plus passenger vehicles sold annually in the U.S. (a number dropping this year because of the pandemic).
- Even in California, the biggest electric vehicle market, cars with a plug were around 8% of new sales last year.
Between the lines: For advocates of electric cars and cutting carbon emissions, that could be viewed as encouraging, daunting, or both.
What we’re watching: The angle of that upward line. Joe Biden, if he wins, hopes to juice electric vehicle sales with investments in charging infrastructure and expanded vehicle tax credits (among other things).
- Automakers, for their part, are bringing a suite of new models to market, and as noted in the item above, the fate of state efforts will matter too.