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U.S. EV Adoption Slows While Global Demand Accelerates

BloombergNEF projects U.S. electric vehicle sales will represent only 17% of passenger vehicle sales in 2030, down sharply from the previous 27% forecast, due to the Trump Administration's removal of EV purchase incentives. This represents a significant reduction from 2024 expectations of 48% EV market share.

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Electric vehicle sales in the United States are set to account for only 17% of all nationwide passenger vehicle sales in 2030, BloombergNEF said in its latest EV outlook, slashing its 27%-share projection from last year as the Trump Administration ended incentives for electric vehicles. Back in 2024, the year before President Trump won a second term in office, BloombergNEF expected EVs to have a 48% share of total U.S. passenger car sales in 2030. With the scrapping of the incentives for electric vehicle purchases, analysts, including those at…

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