Accelerating Electric Vehicle Adoption In 2022

This past year represents a real turning point in the transition to electric vehicles, demonstrated by new major incentives and regulatory activities at both federal and state government levels and several notable accomplishments in the private sector. First, the U.S. government approved EV Infrastructure Deployment Plans for all 50 states, the District of Columbia and Puerto Rico with an estimated $4.155 billion in funding going to states in the next five years to build out EV infrastructure. Second, the Inflation Reduction Act revised and expanded critical federal EV tax credits. Many states also took big steps in promoting EVs by banning the sale of vehicles with gasoline-powered internal combustion engines ("ICE") by 2035 and passing other important legislation. Lastly, the EV manufacturers also made strides with the announcement of a host of new models and record breaking sales years. This all contributed to making 2022 the best year yet for EVs. Let's see if