Since the 1979 oil crisis, where the price of a gallon of gas went over $1.00 for the first time, the price of gas has never fully recovered.
In more recent decades, oil prices have more than tripled to reach over $3.50/gallon, hurting household finances and the economy at large.
The increasing cost of gas and other drivers have led to the EV adoption we are seeing now.
Gen X-ers (those born between 1965 and 1980) and Millennials (those born between 1981 and 1994) are putting money where their mouths are and are going green – equipped with the knowledge that driving gas-powered cars is amongst the worst carbon emitting activities individuals can take part in today.
The State of the Electric Vehicle Revolution 2023
Global electric vehicle (EV) stock has surpassed 30 million, and China is home to over half of all the EVs on the world’s roads. 1 in 7 new cars sold last year was electric, and by 2030, we will have 138 Million EVs.