According to the Environmental Protection Agency, the U.S. transportation sector is responsible for 28 percent of the country’s greenhouse gas emissions. Amongst other factors, mindful emission control and elimination is goading the development of and demand for electric vehicles (EVs). A Bloomberg NEF report states that “EV sales are surging due to a combination of policy support, improvements in battery technology and cost, more charging infrastructure being built, and new compelling models from automakers”; and predicts that global EV sales will increase to 54 million in 2040—compared to 1.7 million in 2020, already up from 450,000 in 2015.
A recent article in The Guardian titled “Global Sales of Electric Cars Accelerate Fast in 2020 Despite Pandemic” shines a light on this dramatic jolt in electric vehicle sales. While overall car sales fell by a fifth during the pandemic, EV sales clocked an impressive 43 percent rise.
By any measure, EVs are here to stay and will likely have a large impact on the climate change landscape (hopefully for the better!). But a new development could speed the rate of EV adoption even further.