The electric vehicle (EV) industry in the United States is experiencing significant growth, with a notable increase in the availability and utilization of EV chargers, as well as an expansion in the range of EVs available to consumers. The average utilization rate for the country's fast-charging stations nearly doubled last year, indicating a surge in EV usage. Additionally, the number of EV models offering more than 300 miles of range has jumped to 30 at the start of 2024, a 500% increase over three years, with an additional 20 models expected to go on sale this year. This expansion in range options reflects a growing consumer demand for longer-range electric vehicles, a trend supported by the fact that American car buyers demand more range from EVs than drivers in any other country. The average range of an EV sold in the US in 2023 rose to a record 294 miles. Furthermore, the EV charging sector is becoming increasingly profitable, as evidenced by EVgo's stock jump of +13.7% pre-market following quarterly results that exceeded expectations, amid a tripling in EV charging revenue. This growth in the EV market is also highlighted by the sale of more than one million fully electric vehicles in the US last year, although the enthusiasm for EVs has not spread equally across the country. Norway is noted for having the highest EV adoption rate in the world, despite its cold climate. Electric car options with more than 300 miles per charge have quintupled in the US since 2021.
American car buyers demand more range from electric vehicles than drivers in any other country. Electric car options with more than 300 miles per charge have quintupled in the US since 2021 https://t.co/3HHKoXtfbA https://t.co/h1UHxgNDmF
Americans bought more than one million fully electric vehicles last year, but enthusiasm for plugging in hasn’t spread equally across the country. See where electric vehicles are (and aren’t) taking off: https://t.co/53GJtUQEBF https://t.co/iNkNatcnzR
American drivers demand more EV range than others around the globe. Automakers appear to have heeded those demands https://t.co/oW3KsVyz2W
EV chargers are becoming profitable. This is a big moment for the EV industry. Data from @stable_auto. https://t.co/x5bQ24xavk
Another piece highlighting how electric mobility (cars and light trucks) is taking off. Interesting observation if you live in a cold place: “Norway, no stranger to cold, has the highest E.V. adoption rate in the world” https://t.co/iTcFcBHevU
$EVGO (+13.7% pre) EVgo’s stock jumps after quarterly results beat expectation, amid a tripling in EV charging revenue - MW https://t.co/lit7mWLpXL
Good morning with good news: EVs with 300 miles or more range jumped to 30 models at start of 2024, a 500% increase in three years. An additional 20 are set to go on sale this year. Average range of an EV sold in US in 2023 rose to a record 294 miles. https://t.co/VC4xTGahzs https://t.co/dpK4xC5uzd
EVgo’s stock jumps after quarterly results beat expectation, amid a tripling in EV charging revenue https://t.co/Llu892zJrt
Want an EV that can travel more than 300 miles? You have more choices than ever https://t.co/HKHDOWU7Uv
Things are picking up at America’s EV chargers. The average utilization rate for most of the country’s fast-charging stations nearly doubled last year https://t.co/MJmZlA9HE6