To reach the carbon reduction goals outlined in the Paris Agreement, and in targets set by dozens of city and state governments, electrifying the transportation sector is key. But despite huge advancements in technology, electric vehicles (EVs) continue to make up only a small fraction of the U.S. automobile market. In fact, EVs were less than 1 percent of the total vehicle market share in the United States until 2017, when they finally hit the 1 percent milestone.
Growth is now accelerating, largely thanks to the success of Tesla’s Model 3. July was the first month on record that EV sales reached 2 percent of market share, doubling the 2017 annual result. But how can the EV market reach scale?