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Why Is North America in the Slow Lane When It Comes to EV Adoption?
Sep 24, 2024
The discussion highlights the stagnation of electric vehicle sales in North America compared to the surge in China. Experts evaluate the critical issues like inadequate charging infrastructure, high depreciation rates, and the cost of fast charging. The conversation also touches on consumer preferences, favoring larger vehicles over smaller models. Insights from an industry veteran shed light on what’s needed to boost EV adoption and make them more competitive in the market.
45:15
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Quick takeaways
- Electric vehicle adoption in North America is hindered by inadequate charging infrastructure, leading to consumer reluctance and increased range anxiety.
- Rapid depreciation of electric vehicles compared to traditional cars raises financial concerns for potential buyers, impacting overall market growth.
Deep dives
Trends in Electric Vehicle Sales
Electric vehicle (EV) sales have shown a mix of growth patterns across different regions. In Europe, the market appears to be flat or slightly growing, primarily due to factors like the end of subsidies and inflation affecting consumer interest. Meanwhile, the U.S. has not seen a substantial increase in EV sales, remaining at around 9.3% of new car sales, which contrasts with the 30% year-on-year growth observed in China. Canada, however, has experienced an increase, reaching about 13% of new car sales, indicating regional variances in the adoption of electric vehicles.
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Discover
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