2019 was the year electric cars grew up

The new Mustang Mach-E. Electric cars had their biggest year ever in 2019, even as storm clouds gathered over their future. The numbers were huge. Automakers committed $225 billion to electrification in the coming years. Electric vehicles (EVs) grabbed 2.2% of the global vehicle market over the first 10 months of 2019 as a slew of new models hit the road. Ford showed off the upcoming electric Mustang Mach-E (a crossover SUV) and an electric F-150 pick-up . Tesla, of course, shocked everyone by turning a profit and previewing a strange future with its “cybertruck,” potentially the Hummer for Millenials. But it wasn’t all rainbows. Outside of China and Norway, where car buyers enjoy generous incentives, the market is still driven by early adopters rather than the mainstream. EV sales for the year have been sluggish. While some states such as California have seen EVs capture 8% of new sales (all-electric and plug-in hybrid), the rest of the country has not yet caught on. After doubling between 2017 and 2018 , EV market share in the US had crept up from 1.6% last March to 1.8% a year later (pdf). That hasn’t slowed automakers’ ambitions. They’re betting it’s better […]

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