All new technologies go through degrees of customer acceptance, before old loyalties begin to fade. MSN believes that California approached that point in 2018 with electric cars. This was when electric vehicle sales reached 5% of all new auto gross sales. At that point the California market began to mature, although not all auto makers responded the same way.
California Now Pushing Electric Vehicle Sales Hard
This upward trend is good news for batteries in several ways. In the first instance, there are economies of scale translating to better prices. But over and above that, there is more money to fund research for better batteries. And finally, grid storage capacity benefits too.
California was the first market to reach the 5% tipping point for electric vehicle sales. Since then, turnover there grew steadily to 22%, and the state now ranks fourth after China, Germany, and the US overall. Moreover, Bloomberg Inexperienced apparently sees no signs of sales growth tailing off either.
MSN reports second-quarter California EV gross sales rose 70% over the identical interval in 2022, with the United States overall following its trajectory, albeit three years later. In fact, if this trend continues, then 25% of national car sales could be EV by 2026.
But Have US Automakers Made the Shift Too?
That’s the sticking point, according to MSN. It is one thing to experimentally purchase an electric car. But it is quite another to tool up a new factory. Battery makers are less concerned, because their products have other applications.
Tesla only makes electric vehicles, and is the top U.S. seller. Toyota is just entering the market seriously now. Guess which car recently became the top-selling auto in California. However, we should spare a thought for dealer outlets too.
Electric vehicle sales are good news for the battery industry while the boom lasts, which it should indefinitely. But battery makers do need to look sharp. Because automakers are not averse to building their own factories, and they must maintain their own competitive edge.
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