An Automotive Minute with Stephanie Brinley - Vehicle Electrification
An Automotive Minute with Stephanie Brinley: Vehicle Electrification
IHS Markit US light-vehicle registration data from January and February 2021 shows a jump in share for electrified vehicles. In 2020, electrified vehicles accounted for 5.9% of all light-vehicle registrations. Over the first two months of 2021, this jumped to 8.0%. #EVs share of landed at 2.1%, while traditional hybrid share came in at 5.1%. Plug-in-Hybrids (#PHEVs) remain less than 1%, though also improved slightly.
IHS Markit sees potential for battery electric vehicles to make up 25% to 30% of US passenger car sales as soon as 2030, on global regulations pushing for a speedier pivot to all-electric vehicles, increasing calls for bans on internal combustion engines in the US, and industry investments.
There remains a significant distance between consumer behavior today and potential in 2030. The early 2021 improvement may signal the start of deeper change in consumer attitude toward electrification.
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