California Tops US EV Adoption: 25% EV Share Of Total Sales In 2023
It’s no secret that the pace of electric vehicle adoption varies greatly from state to state, with California being the undisputed leader in this respect, as opposed to some midwestern and southern states where EV sales are among the lowest in the nation. While EV adoption is on the rise nationwide, electric vehicle market share is far from being homogenous, as pointed out by BloombergNEF’s latest research that takes a detailed look at the speed of adoption across all US states. A total of 972,000 EVs were sold in the US last year, up from 652,000 the year before. Things are looking even better in the first half of 2023 as the EV share of car sales rose to 9 percent stimulated partially by the implementation of the Inflation Reduction Act that introduced new subsidies for consumers, carmakers, and battery producers. If the trend continues, BloombergNEF forecasts EV sales to make up 23 percent of total US passenger car sales in 2025 and 51 percent by 2030. Until that happens, current EV share of passenger vehicle sales data at state level for the first half of 2023 highlights some stark differences between states. Unsurprisingly, California recorded the highest EV share…