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The EV Transition Explained: Local Policies Shape Global Competition

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million dollars in new car sales in 2021, according to data from the National Automobile Dealer Association. Massachusetts, for example, has set a goal of at least 750,000 to 1 million EVs on the road by 2030; it currently has some 51,000, of which 31,000 are battery electric. electric vehicle sales to the new law.

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Convincing Consumers To Buy EVs

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Interestingly, a 2019 Massachusetts Institute of Technology (MIT) study predicted that as EVs became more widespread, battery prices would climb because the demand for lithium and other battery metals would rise sharply. Volvo CEO Jim Rowan , disagrees with both of them, however, seeing ICE-EV price parity coming by 2025-2026.

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