We are a team of passionate Researchers, Data Junkies, and Story-Tellers that believe there is not enough quality business insights and compelling data analysis available in the marketplace, told in the formats users want. We want to give an insider's look into the industries, businesses and economies that are changing the world today, so our users can become inspired, empowered and equipped to run their businesses as best they can.

Lucidity Insights Research Team

The State of the Electric Vehicle Revolution 2023

United States

Since the 1979 oil crisis, where the&nbsp;price of a gallon of gas went over $1.00&nbsp;for the first time, the price of gas has&nbsp;never fully recovered.

In March 2022,&nbsp;gas prices in the US exceeded the&nbsp;$4 per gallon mark for the first time&nbsp;since 2008, exacerbated by Russia&rsquo;s&nbsp;invasion of Ukraine.

In August 2023,&nbsp;oil prices globally have surged to the&nbsp;highest levels in three months, as the&nbsp;economic outlook improves and supply&nbsp;cuts from some of the world&rsquo;s biggest&nbsp;produces start to bite.

As a result, in&nbsp;the US, operating an electric vehicle&nbsp;today works out to be 2.5X to six times&nbsp;cheaper than operating gas-powered&nbsp;cars.

EV is Cheaper than Gas Price Per Gallon

Related Report

About

Legal

Social Media