Lead Authors — Version Seven: Rachel MacIntosh, Sophie Tolomiczenko, and Grace Van Horn
This report was developed by ERM for the Environmental Defense Fund.
This paper is the sixth update to an initial report released in May 2019* that summarizes the current status, and projected growth, of the U.S. electric vehicle (EV) industry over the next five to ten years. Key topics addressed include drivers of U.S. and global EV growth, auto manufacturer investments in EV development and in building a robust charging network for drivers, announced new EV model introductions, projected EV sales, projected battery pack costs and advancements, and projected date of EV “price parity” with internal combustion engine (ICE) vehicles. The report also addresses the effects of the COVID-19 pandemic on EV sales.
The data summarized within the report is based on formal statements and announcements by auto manufacturers, as well as analysis by the automotive press and by financial and market analysis firms that regularly cover the auto industry.
*Updates released September 2022, April 2022, April 2021, January 2021, August 2019, September 2020.
Previous versions of the report