The Biden Administrations goal of having half of all vehicle sales being electric by 2035 seemed farfetched when President Biden entered office. However, with recent changes in the EV market and public opinion, that goal may become a reality in the next decade. The adoption of electric vehicles is growing thanks to numerous coinciding factors. The increase in car availability, the rise of charging availability, and the desire to avoid higher gas prices, and become more energy efficient are a few reasons consumers are making the switch from internal-combustion engines to electric vehicles.
The growing market for electric vehicles leads to many things. Vehicle manufactures are producing a wider array of electric vehicles to choose from and they’re selling fast. Automakers from high to low-end are producing electric options, such as Ford, BMW, and Kia. Companies like Jaguar, Volvo, and General Motors are planning to sell only electric cars within the next 10 to 15 years. With more electric vehicles on the road, EV chargers are being installed on a local, state, and federal level. President Biden announced a new budget for the EV charger infrastructure across the country. Some states are allotting financial incentives to businesses and multi-family dwellings that are installing charging stations on their properties.
Electric vehicles are becoming a lot more popular with the public in recent years. Lots of consumers want to switch to electric, to become more energy-efficient, and have a desire to help the environment. EVs are also becoming more affordable than they have ever been before. The price to purchase an electric vehicle isn’t as expensive as they used to be now that there are more automakers rolling out EVs. They are also helping people save money now that gas prices are back on the rise.