A recent slew negative headlines about U.S. EVs makes it feel like the sky is falling on the market. Yet the data show robust growth. Combined battery electric and plug-in hybrid sales in 2023 were up 50% from 2022, and EV market share reached 9.5% in 2023, up from 7.5% in 2022, according to BloombergNEF.
Still, there have been real signs of changing expectations. GM and Ford have downsized their EV ambitions. Hertz sold off 20,000 Teslas. And Elon Musk tried to temper expectations in last week’s disappointing Tesla earnings call.
So why all the conflicting indicators?
In this episode, Shayle talks to BloombergNEF analyst Corey Cantor. They talk about the changing outlook on the speed of EV adoption as the focus shifts from early adopters to the mass market. They talk through the persistent challenges EVs face, like slow charger rollout and lack of affordable price points. They also cover topics like:
Recommended Resources:
Inside EVs: Hyundai's Electric Vehicle Push Is Absolutely Working
Bloomberg: EV-Charging Firms to Struggle With Finances, Investment in 2024
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