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It's no secret that electric vehicles (EVs) are becoming increasingly popular. According to the International Energy Agency, EVs accounted for approximately 18% of all car sales worldwide in 2023, a marked increase from 4% in 2020.
Closer to home, current estimates put the number of plug-in electric vehicles on U.S. roads at 5.4 million. And, this number will continue to grow as some major automakers have firm plans to stop selling gasoline-powered cars and trucks by 2040, and several states, have banned the sale of new gasoline-powered cars by 2035. The Union of Concerned Scientists projects that 50% of U.S. passenger car sales could be electric by 2030, and that EVs could make up 60% to 70% of the cars on U.S. roads by 2050.
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