Improved Electric Vehicles Boost Market Share

The growth in demand for electric vehicles (EVs) is largely due to the appeal of the models’ technology and features, not a deeper attachment to the idea of owning an EV than in the past, according to a recent study. As EVs improve their features, the rapid rise in sales should continue. The biggest factor hindering EV demand is that the models are more expensive than equivalent gasoline models, but the cost gap is shrinking, which should help with growth in market share.