Industry research shows that most EV drivers charge at home, but range concerns remain a major obstacle for buyers who regularly travel from home, so analysts say public chargers are the way to go. We believe that increasing investment in electric vehicles is also a major driver of EV ownership.
The majority of public chargers are located along the U.S. coast, but a new law facilitated by the Biden administration will provide significant funding for stations to be built in areas where EV penetration is low. Also, the new charger charges much faster than the old one.
S&P Global said, “With $5 billion in electric vehicle charging network funding (and more to come) available under the bipartisan infrastructure law, states are lining up for a major federal contribution. I will.” Another EV-related incentive is provided by the new Inflation Reduction Act.
“The lack of availability of chargers definitely has an impact in the Midwestern states,” says Martin.
Of the states participating in the S&P survey, Wyoming and North Dakota had the lowest EV shares, at virtually 0% for the period January through August. Wyoming had 146 EV sales during this period, and North Dakota had 143.
As a group, EV adoption was low and stagnant among 22 states compared to coastal states.
According to S&P Global, “Heartland accounted for 27.1% of total U.S. auto retail sales through August, but its share of EV adoption has stagnated at a meager share of 15.5% from 2021 to this year.” ‘ said. “Only Colorado and Nevada (and slightly Utah) have a higher overall retail share of EVs.”
The study included Arkansas, Idaho, Illinois, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Montana, Nebraska, Ohio, Oklahoma, South Dakota, Tennessee, West Includes Virginia and Wisconsin.
The largest EV markets are in West Coast metropolitan areas such as Los Angeles, San Francisco, San Diego and Seattle, S&P Global said. New York, Washington DC, Miami and Chicago are also in the top ten.
According to the California New Car Dealers Association, Tesla is the second-largest car brand in California, behind Toyota. Ford is his third and Honda his fourth. Battery electric vehicles overall accounted for his 16% of California sales through September.
EV adoption in non-coastal regions still has a long way to go, but some core cities, including Chicago, Las Vegas, Missoula, Montana and Salt Lake City, have made progress this year, according to S&P Global. rice field.
America’s heartland is likely to embrace battery-powered electric vehicles in the same way Asian cars did decades ago. The process begins on the coast of the United States and continues inland.
“BEV adoption is a long-term process that needs to reach an inflection point similar to the adoption or acceptance of Asian-made vehicles in the United States,” said Libby. “That inflection point is when a product becomes generally accepted, and usually occurs when volume and exposure reach levels that affect all reluctant outliers. .”