Analysts at Evercore ISI predict that California’s recent move to ban sales of gas-powered vehicles by 2035 could push the U.S.’s share of electric vehicles to between 17% and 20% as early as 2025.
“We see U.S. penetration going from to 17-20% in ’25,” then 35% in 2030 and 75% by 2035, the Evercore ISI analysts said.Earlier this month, the California New Car Dealer’s Association estimated that the state’s electric-vehicle market share reached 15.1% in first half of the year, compared with 9.5% in the first half of 2021.
The regulations apply only to new vehicles, and Californians will be able to drive existing gas-powered cars and buy and sell used vehicles running on gas. It is the first move in the U.S. to ban ICE vehicles.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: