Bloomberg Declares That The Tipping Point Has Been Reached! – CleanTechnica

“The US is the latest country to pass what’s become a critical EV tipping point: 5% of new car sales powered only by electricity. This threshold signals the start of mass EV adoption,” Bloomberg writes. At 5% penetration, a new technology starts the almost vertical part of the “S” curve adoption, as popularized by Tony Seba.

Once the issues are sorted for the early adopters (in this case — range, cost, charging infrastructure, limited supply and choice), the rest of society will followRelated: 15 European Countries Have 15%+ Plugin Vehicle Sales (New Car Sales).

Carmakers are rushing to get their electric vehicles to market, with Tesla, Volkswagen and BYD announcing ever increasing production goals. These three carmakers alone expect to produce over 4 million BEVs in the next 12 months. Even laggards like BMW are aiming for 50% of their production to be BEVs by 2030.

Bloomberg Declares That The Tipping Point Has Been Reached! – CleanTechnica