With over 2 million electric vehicles (EVs) on the road today, automakers are expanding their offerings to capture a greater part of this segment. This report quantifies this closing gap using detailed data on specifications and sales of EVs and finds the EV inflection point, where plug-in vehicle reach 50% of new vehicle sales, will occur between 2035 and 2040. It also finds falling battery prices have resulted in most manufacturers adding range instead of passing cost savings onto consumers, as range has increased 75% since 2013, while prices have only fallen 6%.
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