Electric vehicles accounted for 5.6% of all new vehicles sold last year, according to Kelley Blue Book.
CNN reports that may not sound like a lot, but as recently as 2019 that figure was just 1.4%.
Based on the experience in other global markets – particularly Norway – 5% market share seems to be an important tipping point for wider adoption, said BloombergNEF researcher Corey Cantor. Other markets, such as China and Europe overall, have shown similar trends.
