Am I going crazy of has the amount of anti-EV “articles” started to skyrocket. Just today, I’ve seen a “Why I’m not buying an EV” concern article, some accusing Biden of killing EVs, “The true costs of buying an EV,” and my favorite: “Study: The True Cost of Charging an EV: $17/gallon.” (That study was funded by Exxon Mobil, lol).
What’s going on? Why is all the EV hate in the media ramping up?
19% of new cars sold in Europe in 2021 were EVs, a huge jump from 3-4% only two years prior. And then it really took off, right? Well, no. 2023 will end up at ~24% and the first half of next year will be similar. Europe will then see another sudden jump to ~33% in 2025, followed by another stretch of penetration increasing only 1-2% per year.
You can’t apply consumer-driven “S Curve” math to EV adoption. The irregular “stair step” pattern is driven by legislators and regulators. If you want to forecast EV sales look to them, not cell phone adoption curves.
It’s almost like we had a huge pandemic that heavily fucked all the supply chains… 2022 was the year for “supply isn’t keeping up with demand” in the EV space.