Electric vehicles are slowly and steadily gaining ground and are soon becoming a viable alternative for consumers all across the globe. With the growing threat of global warming and other environmental constraints, the electric vehicle (EV) market is only going to grow in the near future. Keeping this in mind most of the leading carmakers are jumping on the electric vehicle bandwagon in an attempt to grab a big share of the pie. As things stand now, electric vehicles are still a small percentage of the total automotive market in the U.S., but they have started to gain ground, according to an analysis by IHS Markit.
The report suggests that there were nearly 208,000 new registrations for electric vehicles last year in the U.S. which is nearly double of the figures in 2017. According to the report by IHS Markit, the growth of electric vehicle is primarily concentrated in California and in nine other states which have introduced the Zero Emission Vehicle Program (EVP). The other nine states are Connecticut, New York, New Jersey, Vermont, Maine, Maryland, Massachusetts, Oregon, and Rhode Island.
As per the TechCrunch report, California leads the way in registrations with over 95,000 new electric vehicles registration in 2018, which accounted for nearly 46 percent of the total share.
These numbers are expected to go higher as more and more people are opting for electric vehicles and an increasing number of existing customers are sticking with the technology.
Among the top models, Tesla’s Model 3 is leading the way and is way ahead of the chasing pack. Others in the competition include Chevy Bolt, Tesla Model X, Tesla Model S, and Nissan Leaf, according to reports by Inside EVs. There’s no dearth of electric vehicles in the market and more new models are about to be launched in the coming months with Kia Niro EV and Hyundai Kona EV waiting in the wings.
According to Devin Lindsay, IHS Markit analyst:
“A rapid increase in EV nameplates is the catalyst behind the projected growth throughout the next decade. While relatively successful models such as the Tesla Model 3 mature in the market, other traditional automakers will be rolling out not just one EV as we have seen in the past, but multiple models off dedicated EV platforms.”
HIS also found out that loyalty among electric vehicle owners has increased by nearly 55 percent and this bodes well for the future of electric vehicles.