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Electric vehicles (EVs) are becoming increasingly common, with many manufacturers currently offering models that plug in. Dozens more are expected to hit the market over the next few years.
Although sales of pure electric vehicles and plug-in hybrids account for less than 2 percent of U.S. light vehicle sales currently, there has been increasing interest from car shoppers. In 2010, just 1,919 EVs were sold in the U.S. In 2018, sales hit 233,411. But forecasts for how much of the U.S. auto market EVs could occupy range from 8 to 25 percent by 2025. Stephanie Brinley, an analyst at market research firm IHS Markit, says her prediction sits at the low end.
“If you look at EVs for 2021 and 2022, we’re really at the beginning of this market,” she says. “By 2025, EVs should be about 9 percent of the U.S. market. That’s a huge amount of growth from where we are right now
