It’s typically more about momentum and costs. Funny, when you look at places like Norway, almost 100% of new vehicles are EVs. California is 25% of all new car registrations are EVs. But when you look at fuel costs, it makes sense. Same reason big trucks have been popular in the US, fuel costs have been relatively low, and when costs go up, those purchases go down.
It’s typically more about momentum and costs. Funny, when you look at places like Norway, almost 100% of new vehicles are EVs. California is 25% of all new car registrations are EVs. But when you look at fuel costs, it makes sense. Same reason big trucks have been popular in the US, fuel costs have been relatively low, and when costs go up, those purchases go down.