Will Electric Vehicles Reach 50% Market Share In US By 2030? New Data Says Yes
Portfolio Pulse from Chris Katje
A new report from Recurrent Auto predicts that electric vehicles (EVs) will reach a 50% market share in the U.S. by 2030, driven by states' zero-emissions targets, improved tax credits, and lower battery costs. Tesla, Ford, General Motors, and Rivian are highlighted as key players in the growing EV market.
July 15, 2024 | 9:34 pm
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POSITIVE IMPACT
Ford is positioned to benefit from the growing EV market, with strong sales of its Mustang Mach-E and F-150 Lightning models.
Ford's increasing EV sales and popular models like the Mustang Mach-E and F-150 Lightning make it a key player in the expanding EV market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
General Motors, through its Chevrolet brand, is expected to benefit from the growing EV market, with significant year-over-year sales growth.
GM's Chevrolet brand has shown strong year-over-year sales growth, positioning it well to benefit from the projected increase in EV adoption.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Rivian is expected to benefit from the growing EV market, with strong sales growth and new models in the pipeline.
Rivian's strong sales growth and upcoming new models position it well to benefit from the projected increase in EV adoption.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Tesla is expected to benefit significantly from the growing EV market, with its Model Y being the bestselling EV globally in 2023. Tesla's market share in the U.S. EV market was 55% in 2023.
Tesla's dominance in the EV market and its strong sales figures position it well to benefit from the projected growth in EV adoption.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100