According to a report from EY, the U.S has officially ranked third in its readiness for an EV future, beating out many leading nations in sustainability.
After an analysis of which of the top 20 vehicle markets are most prepared for the rapid spread of electric vehicles, EY recently released its ranking of the nations. The United States surprisingly placed in the third spot, behind only China and Norway. "Still, the U.S. rose sharply this year... from seventh place in 2022, the result of new models, investment in battery manufacturing and more affordable EVs... Regulation has played a key role in enhancing EV affordability" (Automotive News).
The U.S government has been largely encouraging the shift towards the electric vehicle and has been making demands of automotive manufacturers to keep the momentum. For example, "An executive order signed by Biden set a target for half of all new vehicles sold in 2030 to be zero-emissions vehicles, including battery electric, plug-in hybrid electric or fuel cell electric vehicles. Biden also wants automakers to raise gas mileage and cut tailpipe pollution between now and model year 2026" (Fortune).
Additionally, policies such as "The Inflation Reduction Act and the Infrastructure Investment and Jobs Act have funneled billions toward EVs and related technology development" (Automotive News). According to EY, "streamlined production and greater supply, has caused consumer demand to rise steadily" as a result in the U.S (EY).
It was expected that the UK would rank highly, but the U.S topped them as well as Sweden, Germany, and the Netherlands. However, only 48% of U.S consumers surveyed said they intended to purchase an electric vehicle and EV adoption remains at only 10% nationally (EY).
Where would you have expected the U.S to rank? Do you think this report is accurate?
Sources and further reading: