Report Says US EV Adoption Crosses Threshold to Mass Adoption, Canada Not Far Behind

Electric cars may be ready to be adopted en masse, by Americans, reports show.

In a report from Bloomberg, EVs now make up 5% of new cars sold. Bloomberg says this is the turning point for mass adoption, judging from the numbers of other countries. The US is the latest auto market to cross this threshold, joining 18 other countries that have done so within the past few months. If Bloomberg is right, 25% of US car sales could be electric by 2025, way ahead of many predictions.

The report continues on, saying that the adoption of new technologies tends to follow an “S-curve” shaped graph, where adoption starts at a trickle. Around 5%, is the magic number where early adopters join the general public, and the tech moves full steam ahead. This happened in Norway in 2013, then China in 2018, and South Korea last year. Those three markets have a sizable EV presence, and the vehicles are purchased by all types of folks, not just early adopter techno geeks. Canada, Australia, and Spain are fastly approaching the 5% mark, too.

This is impressive, considering that in the United States, the two biggest EV manufacturers (Tesla and GM) are no longer eligible for federal tax credits. There are very limited options for lower-cost EVs, but that hasn’t stopped adoption. It looks like those who can afford an EV have been considering and purchasing them over their gas-powered counterparts at an increasing clip.

Adoption should only continue to increase as manufacturers continue to introduce more models at different price points.

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