QH
THE EV TRANSITION IS COSTLY SO FAR
Recalls and staggered adoption rates kick off a transitional period in the automotive world BY NOAH BROWN
OVER THE PAST FIVE YEARS, THE
presence of electric vehicles on U.S. roads has surged. According to the Pew Research Center, nearly 1.8 million EVs were registered in the United States, more than tripling from 2016. A recent survey from the center showed around 7 percent of U.S. adults owned an EV or
16
hybrid, and 39 percent said they were somewhat or very likely to consider purchasing an EV the next time they needed a new car. Despite their increased presence, though, EV adoption in the country has actually slowed quite a bit in recent years and is lagging significantly behind other countries. The same report shows
EVs only account for 2 percent of new car sales in the U.S., less than half the 4.6 percent global average and a figure dwarfed by countries such as Norway (74.8 percent), Iceland (52.4 percent) and Sweden (32.3 percent). Part of that is attributed to the declining popularity of plug-in hybrid electric vehicles and several EV manufacturers such as Tesla and GM reaching federal tax credit caps on some of their most popular models. Another, perhaps undervalued, factor in that decline though is a seeming lack of reliability that has hampered several electric vehicle manufacturers in the past couple of years. A report from CNBC shows several recalls have hampered thousands of electric
CHAD RUSSELL
INDUSTRY INSIGHT
NOLN.NET
04_QuickHits.indd 16
9/21/21 9:28 AM
