In just the past two years, the market share of electric vehicles (EVs) has more than doubled, rising from 2.7 percent to 6.4 percent by the end of 2022.
New EVs are rolling onto the market at a blistering pace. As motor vehicle manufacturers race to compete for market share, companies like Ford, Chevy, and Hyundai are investing significantly in their all-electric vehicle lines, while Tesla’s Model Y and Model 3 continue to vastly outsell the competition.
The message is clear: the future is electric.
But, as with most innovations, that future may not reach everyone’s zip code (or driveway) at the same time.