The electric slide

From: POLITICO's The Long Game - Thursday Mar 24,2022 04:02 pm
Presented by Bank of America:
Mar 24, 2022 View in browser
 
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By Jordan Wolman

Presented by

Bank of America
THE BIG PICTURE

A chart showing electric vehicle sales.

Source: Alliance for Automotive Innovation

More Americans than ever are doing the pollution reduction version of the electric slide: buying electric vehicles.

They’re doing it in record numbers, according to the Alliance for Automotive Innovation, a group representing manufacturers of nearly 98 percent of cars and light trucks sold in the U.S.

EV sales volume in the last three months of 2021 rose 11 percent compared with the preceding quarter. They accounted for 6 percent of all new light-duty vehicle sales in that period, the highest of any quarter to date. EV sales represented 4.4 percent of the market for the full year, nearly doubling their share from 2020.

 

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A chart showing top states by EV registrations.

The U.S. now has 44,500 publicly available EV charging locations and 110,158 charging ports — a 16 percent increase from the start of 2021, the alliance said in its report. That increase doesn’t reflect the Biden administration’s plan to dole out $5 billion over five years to accelerate creation of an EV charging network.

There has also been a shift in the types of EVs being sold. The report found that light trucks such as SUVs, pickup trucks and minivans made up nearly 58 percent of EV sales in the last quarter of 2021.

 

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Even as market share of new EV registrations increased in all states, year-over-year, in the last quarter of 2021, there is a clear western tilt. California has 39 percent of all registered EVs and nearly one-third of the nation’s charging infrastructure, according to the report.

The number of EV charging ports have risen.

 

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And while high gas prices could further boost the popularity of EVs in the coming months, sales could also be affected by the same factors: inflation and Russia’s invasion of Ukraine.

Tesla is increasing prices across its electric fleet, with CEO Elon Musk citing “significant recent inflation pressure in raw materials.” The price of nickel, a common battery component, has soared in recent weeks.

Even with long-term trends like investment in EVs by automakers and improving consumer sentiment, inflation and cost of key materials could slow EVs momentum in the shorter run.

 

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WHAT WE'RE CLICKING

— A new report shows the annual carbon footprint of astronomy research rivals that of entire European countries.NPR has the story.

— In the latest chapter of carbon offsets, Dominion Energy is letting its customers in Utah, Wyoming and Idaho chip in $5 a month to offset the average customers’ consumption. Read more from The Salt Lake Tribune.

 

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