Wiktor Wise
Electric vehicles (EVs) are becoming increasingly popular worldwide, with more than 40 million in use globally in 2024, up from 26 million in 2022 and just 1 million in 2018. In 2021, sales of plug-in passenger cars achieved a 9% global market share of new car sales, up from 4.6% in 2020 and 2.5% in 2019. The number of EVs sold in a week in 2021 was higher than the number sold in the entire year of 2012. The rise in EV sales can be attributed to factors such as government subsidies, improved charging infrastructure, increased range, lower battery costs, and environmental concerns. Norway leads the way in EV adoption, with 95% of all cars sold being electric, followed by Sweden at 60% and the Netherlands at 30%. China is the largest producer and exporter of EVs, with 20.41 million plug-in passenger cars as of December 2023, almost half of the global fleet.
| Characteristics | Values |
|---|---|
| Number of electric vehicles on the road in the US | 2,442,270 (2024) to 2,531,206 (2025) to 3.3 million (2024) |
| Number of electric vehicles on the road globally | 40 million (2024) |
| Number of electric vehicles registered in California | 1,256,646 (2023) |
| Number of electric vehicles registered in Florida | 254,878 (2023) |
| Number of electric vehicles registered in Washington | 104,050 (2022) |
| Percentage of electric vehicles in the US | 0.86% (2024) to 1% (2025) |
| Percentage of electric vehicles worldwide | 2.2% (2025) |
| Number of charging stations in California | 15,000 (2025) |
| Number of charging outlets in California | 44,000 (2025) |
| Number of charging stations in the US | 183,000 (2024) |
| Number of charging stations in China | 2.7 million (2024) |
| Number of charging stations in Korea | 201,000 (2024) |
| Percentage of US adults who would consider buying an EV | 38% |
| US electric vehicle market value in 2023 | $49.1 billion |
| US government funding for fuel-alternative infrastructure | $521 million (2024) |
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What You'll Learn
Electric vehicle (EV) sales and global usage
In the United States, the number of electric vehicles on the road has also been steadily climbing. As of 2025, there are approximately 2.5 million electric vehicles in the country, including battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV). This number varies across different sources, with some citing 2.4 million and others 3.3 million electric vehicles. California leads the way in EV adoption within the US, with approximately 1.2 million light-duty electric vehicle registrations in 2023, accounting for around 35% of nationwide vehicles. Florida and Texas follow California in terms of EV registrations.
Several automakers have contributed to the growing EV market. Tesla, a well-known EV brand, has dominated EV sales in the US, accounting for 56% of electric vehicles sold through the first nine months of 2023. However, their market share has decreased over time, with a 66.5% share in 2022. Other manufacturers, such as Chevrolet, Ford, and Hyundai, have also introduced EVs to their model lineups, increasing competition and providing consumers with more options.
Looking forward, the demand for EVs is expected to continue rising. McKinsey predicts that worldwide demand for EVs will be six times higher in 2030 than in 2023, with annual unit sales increasing from 6.5 million to 40 million. The Biden administration has set a target of having 50% of vehicles sold be electric by 2030 and is investing in charging infrastructure. While factors such as the lack of publicly available charging stations have impacted EV sales, the increasing commitment to electrification and infrastructure development indicates a positive outlook for the EV market.
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The US electric vehicle market
Electric vehicles (EVs) are becoming more and more prevalent on US roads, with their market share increasing year on year. In 2023, there were about 3.3 million electric vehicles on US roads, up from 2 million in 2022 and 1.3 million in 2021. This represents less than 1% of vehicles on American roads, but the market is expected to grow substantially, with some estimates suggesting that EVs could make up over 17% of all auto sales in the US by 2028.
California has been a leader in EV adoption, with approximately 1,256,646 light-duty electric vehicle registrations in 2023, accounting for about a third of all EVs in the US. Florida, Texas, Washington, and New Jersey are also among the states with the highest number of electric vehicle registrations. California's success in EV adoption is attributed to its superior technology and government incentives, with the state offering incentives such as EV rebates and tax credits of up to $7,500 for those who purchase electric vehicles.
While the US EV market share is still relatively small compared to gas-powered vehicles, there is a growing interest from consumers. In 2024, 7.9% of all new car registrations were for electric vehicles, and EVs and plug-in hybrids combined made up 8.5% of vehicles sold in May 2024. Tesla has been a dominant player in the US EV market, with a market share of about 52% in June 2024. However, their market share has been decreasing as more automakers enter the market and offer consumers more choices.
The future of the US electric vehicle market looks promising, with predictions that EV sales will continue to grow and infrastructure developments to support EVs already underway.
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Electric vehicle charging infrastructure
Electric vehicle (EV) charging infrastructure is critical to supporting the mass adoption of electric vehicles. As of February 2024, there were over 61,000 publicly accessible EV charging stations in the United States. However, the largest share of EV charging occurs at home, limiting access to those who can install a home charger. To achieve a carbon-free energy system by 2050, a robust and equitable network of consumer and fleet charging stations is necessary to meet the rising demand for EVs.
The Alternative Fuels Data Center and the Station Locator have defined "station location" as a physical place with one or more EV charging ports, such as a parking garage or lot. An "EV charging port," also called a "charger," provides power to only one vehicle at a time, even with multiple connectors. These charging ports are sometimes called "charging posts" and can have one or more charging ports.
There are two types of EV charging infrastructure: fast direct current (DC) charging stations and slower alternating current (AC) charging stations. DC charging stations are crucial for the widespread use of EVs as they enable rapid charging along heavy traffic corridors. As of 2023, more than 20% of public EV charging ports in the United States were DC fast chargers, and their availability is expected to increase due to federal funding and the adoption of medium- and heavy-duty EVs. However, many EVs on the road today cannot charge at rates higher than 200 kW, and implementing higher-powered charging networks faces technological challenges.
Despite the growing number of charging stations, several barriers prevent consumers from adopting EVs. "Range anxiety" and the need to charge EVs during long trips are significant concerns. Additionally, charging logistics and the higher overall cost of EVs compared to gasoline vehicles are other obstacles. Lower-income consumers also face challenges due to the limited availability of EV charging infrastructure in their areas.
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Electric vehicle brands and models
As of March 2023, there were 40 battery-electric vehicle models available in the US. The number of electric vehicles on the road in the US has been steadily increasing over the years, with around 3.3 million electric vehicles on the road as of 2023, up from 2 million in 2022 and 1.3 million in 2021. Despite this, electric vehicles still only account for a small percentage of all registered vehicles in the country, with a 0.86% adoption rate.
Tesla is the leading electric vehicle manufacturer in the US, with a market share of 56.5% as of 2023. The brand's Model Y, a crossover SUV, is its best-selling EV, with 296,059 units sold in 2023. Other popular models include the Model 3 and Model X.
Chevrolet, one of the oldest automakers in the US, entered the EV market in 2017 with the Bolt EV, which was named Car of the Year by Motor Trend magazine. In 2023, the brand sold 49,494 Bolts, representing 5.7% of all EVs sold in the US. Chevrolet has since expanded its EV offerings with the Blazer EV and Silverado EV, which debuted in 2023.
Ford is another established automaker that has expanded into the EV market. The Mustang Mach-E, a popular SUV, contributed to Ford having the third-most EV sales in the US.
Hyundai, a South Korean automaker, entered the US EV market in 2019 with the Kona Electric. The brand has since expanded its electric vehicle offerings with the Ioniq line, which includes the Ioniq5, a crossover SUV, and the Ioniq6, a midsize electric sedan.
Mercedes-Benz, a German luxury automaker, opened its EQ line of electric vehicles in 2016, with the EQ S being the most popular model in the US, selling 12,720 units in 2023.
Other notable electric vehicle brands and models include:
- Polestar, an electric-only brand owned by Volvo, has gained popularity with the Polestar 2 and the Polestar 3 SUV, which offers a range of up to 300 miles and luxury features.
- Volvo itself is also developing all-electric vehicles, with the ES90 and the EX30, the brand's smallest, fastest, and most efficient SUV.
- Acura is set to release the RSX, a coupe-like four-door electric SUV based on a new Honda-developed electric vehicle platform.
- Audi has introduced the A6 E-Tron, a midsized, four-door EV with a hatchback design.
- Sony Honda Mobility has partnered to create the Afeela brand, with the Afeela 1 sedan as its first model, featuring cutting-edge technology.
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Electric vehicle registrations by state
As of 2024, there are approximately 3.3 million electric vehicles registered in the United States, up from 2 million in 2022 and 1.3 million in 2021. Despite this growth, electric vehicles still only account for 0.86% of registered vehicles in the country.
California leads the way in terms of EV adoption, with approximately 1,256,646 light-duty electric vehicle registrations in 2023, representing around 35% of all electric vehicles nationwide. This is due in part to California's high EV adoption rate of 2.5%. Florida follows California with 254,878 light-duty electric vehicle registrations in 2023, while Texas comes in third.
Tesla has a strong presence in the US EV market, with a market share of 56.5% for EVs sold in the country through the first nine months of 2023. Their Model Y, a crossover SUV, is the best-selling EV model in the US. However, Tesla's market dominance appears to be shrinking, as their share of EV sales decreased by over 15% from 2022 to 2023.
Other automakers are also making strides in the US EV market. Chevrolet's Bolt EV, which debuted in 2017, continues to be popular, with 49,494 units sold in 2023. Ford is gaining ground with its Mustang Mach-E, which won the 2021 North American SUV of the Year award. South Korean automaker Hyundai entered the US EV market in 2019 with the Kona Electric and has since expanded its electric offerings with the Ioniq line of vehicles. German automaker Mercedes-Benz offers its EQ line of electric vehicles, with the EQ S being the most popular model in the US.
Initiatives like the Open Vehicle Registration Initiative by Atlas aim to make data on electric vehicle registrations more accessible to the public and policymakers. This data is essential for understanding market trends and developing effective public policies and programs related to electric vehicles.
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Frequently asked questions
As of 2022, there were 26 million electric vehicles on the road globally. This number increased to over 40 million in 2023.
As of December 2023, China had the world's largest stock of highway-legal plug-in passenger cars with 20.41 million units, almost half of the global plug-in car fleet in use.
Norway has the highest market penetration per capita for electric vehicles in the world. Over 10% of all passenger cars on Norwegian roads were plug-ins in 2018, and this rose to 22% in 2021.
As of July 2022, the number of electric vehicles in India was 13,34,385.
The electric vehicle market worldwide is projected to grow by 6.95% from 2025 to 2029, resulting in a market volume of US$1,084.0 billion in 2029. This growth is driven by factors such as consumer preference for greener transportation options, government initiatives and incentives, and advancements in battery technology.
