Fast & Furious, EV Edition
1 May 2023
The EV revolution appeared to have a full head of steam this time last year. This year blockbuster electric vehicle and battery manufacturing deals are rolling out as fast as a Tesla from a dead stop.
Since January 2021 EV sales in the U.S. have tripled (over 800,000 sold in 2022) while the number of available models has doubled, according to the U.S. EPA. There are over 130,000 public chargers across the country — a 40% increase over 2020. And the private sector has committed to more than $120 billion in domestic EV and battery investments since the Inflation Reduction Act (IRA) became law. That trend figures to accelerate even more now that more stringent federal consumer incentives will require vehicles to have U.S.-made battery systems.