Electric vehicles (EVs) accounted for nearly 9% of monthly new vehicle registrations in Atlanta in January 2023 — up from 5.5% in January 2022, Axios’ Joann Muller reports.
Why it matters: EVs aren’t just for early adopters anymore.
- With a broader selection and some signs of moderating prices, mainstream car buyers are increasingly turning their EV curiosity into purchases.
Zoom in: The Georgia legislature passed an overhaul this year of how the state regulates and taxes EVs to prepare for widespread adoption.
- It happened despite protests from environmentalists that the new fee structure was too high and would undercut the existing free charger network.
- Lawmakers countered that the new fees don’t go into effect until 2025, and they could revisit the law before then.
The big picture: Over the next few years Georgia will become a hub of EV production, including the newest Kia EV set to come to its West Point factory in 2024 and new EV plants currently under construction by Rivian and Kia’s parent company, Hyundai.
Zoom out: Nationally, EVs accounted for 7% of new vehicle registrations in January, up from 4.1% in January 2022.
Axios has been tracking the historic shift away from gasoline using vehicle registration data from S&P Global Mobility.
- In 2022, electric vehicles made up 5.6% of all new U.S. car registrations.
- That’s up from 3.1% in 2021 and 1.8% in 2020, but still way behind China and Europe.
Reality check: Less than 1% of the 279 million cars and light trucks on American roads are electric.
Of note: Existing federal consumer tax credits for EV purchases are being reworked — again — in part to bolster U.S. manufacturing and reduce reliance on China.
- A list of qualifying vehicles will be announced in mid-April, but few of today’s EVs are expected to meet the new standards.
The bottom line: EV-curious consumers have more choices than ever.
- There were 47 electric models available for sale in the U.S. at the end of…
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