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    Home > Chemicals Industry > International Chemical > By 2030, U.S. electric vehicle sales will account for more than half of passenger car sales

    By 2030, U.S. electric vehicle sales will account for more than half of passenger car sales

    • Last Update: 2023-01-06
    • Source: Internet
    • Author: User
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    According to a report by Bloomberg New Energy Finance, more than half of passenger cars sold in the United States will be electric by 2030, thanks in part to consumer incentives included in President Biden's $374 billion in new climate spending
    .

    Bloomberg New Energy Finance analysts found in the report that these incentives, which include up to $7,500 in tax credits for the purchase of new electric vehicles, could speed up electric vehicles
    .

    According to previous estimates, electric vehicles will account for 43%
    of the US market by 2030.
    With climate spending measures in place, this forecast has been revised upwards to 52%.

    The latest forecast from Bloomberg New Energy Finance shows that the United States is on track to meet the key goal set by Biden last year, which is that by the end of 2030, half of all cars sold in the United States will be battery-electric, plug-in hybrid or fuel cell powered
    .

    In 2021, electric vehicles accounted for less than 5% of sales in the United States, which is lower than the global proportion of nearly 9%, and far lower than the penetration rate of countries such as China, where plug-in cars currently account for about 24%
    of new car sales.

    Last year, Norway became the first country
    to sell more electric vehicles than internal combustion engine vehicles.
    According to Bloomberg New Energy Finance's revised forecast, the United States will surpass the global average
    by 2026.

    In the short term, the three automakers with the largest domestic battery production — Tesla, General Motors and Ford — will benefit the most from the new law, the
    report said.
    Analysts note in the new report that the requirements "will take time to adapt," especially as
    automakers deal with rules on critical minerals and batteries.
    But these challenges are expected to diminish over time, and the shift could also bring more EVs into the affordable price range
    .

    Corey Canor, an electric vehicle analyst at Bloomberg New Energy Finance, said: "In the next year or so, there should not be much difference in sales
    .
    Later in the decade, we expect not only EV tax credits, but also battery production tax credits to drive EV costs down
    dramatically.

    According to a report by Bloomberg New Energy Finance, more than half of passenger cars sold in the United States will be electric by 2030, thanks in part to consumer incentives included in President Biden's $374 billion in new climate spending
    .

    Bloomberg New Energy Finance analysts found in the report that these incentives, which include up to $7,500 in tax credits for the purchase of new electric vehicles, could speed up electric vehicles
    .

    According to previous estimates, electric vehicles will account for 43%
    of the US market by 2030.
    With climate spending measures in place, this forecast has been revised upwards to 52%.

    The latest forecast from Bloomberg New Energy Finance shows that the United States is on track to meet the key goal set by Biden last year, which is that by the end of 2030, half of all cars sold in the United States will be battery-electric, plug-in hybrid or fuel cell powered
    .

    In 2021, electric vehicles accounted for less than 5% of sales in the United States, which is lower than the global proportion of nearly 9%, and far lower than the penetration rate of countries such as China, where plug-in cars currently account for about 24%
    of new car sales.

    Last year, Norway became the first country
    to sell more electric vehicles than internal combustion engine vehicles.
    According to Bloomberg New Energy Finance's revised forecast, the United States will surpass the global average
    by 2026.

    In the short term, the three automakers with the largest domestic battery production — Tesla, General Motors and Ford — will benefit the most from the new law, the
    report said.
    Analysts note in the new report that the requirements "will take time to adapt," especially as
    automakers deal with rules on critical minerals and batteries.
    But these challenges are expected to diminish over time, and the shift could also bring more EVs into the affordable price range
    .

    Corey Canor, an electric vehicle analyst at Bloomberg New Energy Finance, said: "In the next year or so, there should not be much difference in sales
    .
    Later in the decade, we expect not only EV tax credits, but also battery production tax credits to drive EV costs down
    dramatically.

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