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Top EV Trends for 2024 and Beyond

The U.S. EV market is projected to double by 2030.


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Top EV Trends for 2024 and Beyond

As the electric vehicle (EV) market continues to surge, we're excited to share key trends shaping the landscape in 2024 and beyond.

1. Expanding Charging Infrastructure:

The industry is tackling the charging gap head-on. A collaboration between major automakers (Hyundai, GM, BMW, Mercedes-Benz, Honda, Kia, and Stellantis) will install 30,000 high-powered charge points across the U.S., offering CCS and NACS compatibility. This summer rollout will significantly improve charging accessibility.

2. Policy Enhancements:

The U.S. EV market is projected to double by 2030, partly driven by supportive policies. Recent changes include:

  • Tax Credit Extension: The Biden administration extended the EV tax credit by two years, allowing more vehicles to qualify and providing OEMs with time to adjust supply chains.

  • Focus on Critical Materials: The new policy prioritizes vehicles using specific graphite and raw materials sourced from non-free trade agreement countries.

3. Battery Technology Advancements:

Leading OEs are heavily invested in improving battery performance and exploring technologies like Ultium, solid-state, and lithium-metal. These advancements will enhance battery health, performance, and residual values, benefiting consumers, dealers, and lenders.

Learn More About EV Trends

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Black Book · 1745 N Brown Rd Ste 130 · Lawrenceville, GA 30043 · USA

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