North America’s EV Journey
Despite strong sales, the US market faces potential policy reversals, including the removal of EV tax credits and emissions standards. However, investments in EV infrastructure continue, with Rivian securing a $6.6 billion loan from the US Department of Energy.
The Road Ahead for EVs
With strong growth forecasts, the EV industry is poised for another transformative year, though regional policy shifts could shape the trajectory ahead.
The EV boom is driving massive expansion in charging infrastructure, with over 5 million public chargers worldwide in 2024—a 40% jump from the previous year. Governments and companies like Tesla and Shell are rapidly rolling out high-speed charging networks, including ultra-fast hubs that can recharge 80% of a battery in 15 minutes.
Tech advancements, such as wireless charging, are improving efficiency and ease of use. However, challenges remain, especially in rural areas where charging points are scarce. Costs and supply chain issues for materials like lithium also pose hurdles.
To tackle these, governments are offering incentives, while companies explore solar-powered and energy-storing chargers. Global public charging could grow sixfold by 2035, making EVs more accessible beyond cities. With ongoing investment, the future of transport is set to be electric.