Two headlines in the last month tell compelling stories for the future of the EV market in 2025. First, according to our recently released polling data, 60% of Americans agree the election results had zero impact on their interest in getting an electric vehicle (EV). The second, which supports our poll findings, comes from The New York Times reporting major automaker sales gains in 2024 thanks to the introduction of dozens of competing EV models, providing buyers with newer designs, lower prices at the dealership and the $7,500 federal tax incentive. Despite the sales growth of EVs in the U.S., our data shows that Americans mistakenly believe we are a leader in EV manufacturing.
While consumers and industry leaders read the crystal ball on the potential policy shifts from the incoming federal administration, the polling data and EV sales trends show that whether a Republican or Democrat is in the White House, EVs have the momentum and are here to stay. China is currently the global leader on EV manufacturing; however, America is positioned to also lead if we keep the pedal to the metal on EV manufacturing investments. We must do more to support EV manufacturing in the U.S. to lead in this crucial global economic pillar.
The good news is that consumers are starting to understand the benefits of owning an EV. The top two reasons to go electric, according to our Veloz poll, are the cost savings on gas and improving air quality. We previously discussed how drivers save money on their EV purchase with local, state and national incentives, which can all be found on Veloz’s consumer website ElectricForAll.org, plus the added benefits of passing up trips to the pump and the mechanic. And, EV-curious and current EV owners also understand that EVs emit 52% less pollution than gas cars. After buying an EV, other benefits start becoming clear. Current EV drivers will buy another EV even without incentives because they enjoy the cutting-edge technology and the fact that EVs deliver a better driving experience.
Since Veloz embarked on its mission to increase the number of EVs on the road, we’ve extolled EVs as the future and the future is now. Based on last year’s sales numbers, buyers agree as evidenced by a majority of EV manufacturers’ sales growing by double digits in the last quarter of 2024.
What folks can’t seem to agree on is who is leading the EV revolution. We want to do more to elevate the importance of EVs for U.S. economic growth. Unsurprisingly, there seems to be a disconnect between who currently dominates and why EV leadership is important. When asked in our poll what country people thought was the leader in EV technology and manufacturing, 42% of respondents said the U.S., while China came in second with almost 28%. However, China is the leader with EV exports surging 13,300% to $42 billion from 2017 to 2023. During this period the country accounted for nearly 70% of global EV production. In the same Veloz poll, more than 77% of poll respondents believe it is important to support U.S. EV manufacturing to compete with China.
U.S.-based EV and battery manufacturing is starting to hit a stride thanks to federal investments and programs. For example, since the passage of the Infrastructure Investment and Jobs Act, over $22 billion and nearly 24,000 new jobs in EV and battery manufacturing have been announced in Georgia alone including $16 billion and nearly 11,000 jobs announced after the passage of the Inflation Reduction Act. New research from the International Council on Clean Transportation predicts that growing the U.S. EV battery industry will create up to 125,000 domestic jobs by 2032. In addition to Georgia, states like Michigan, Tennessee, Indiana, Kentucky, Nevada, Ohio, Alabama, Arizona, Kansas, and Texas are already benefitting. In the coming years, EV and battery manufacturing could generate up to 931,000 more jobs in the larger economy.
Understanding the interconnectedness between federal funding and programs, private industry investments, EV manufacturing, global market leadership and job creation is critical as we enter the new year with a new federal administration and this bridge-building work is at the heart of Veloz’s mission. Our broader international leadership and local economic growth are at stake if current federal and state-level policies, programs and tax incentives are threatened. We cannot risk falling behind as the rest of the world leans into the EV revolution. As agendas and priorities are set for 2025 and beyond, we ask that industry and political leaders not ignore the importance of prioritizing EVs for our personal, environmental and economic health.
It is an understatement to say that we have a lot to do to keep the momentum — created by our membership — going strong. Veloz is leveraging its leadership, 40+ members, communications channels, connections and convening power to overcome EV adoption barriers, help consumers understand the benefits of choosing an EV for their next purchase, and speed up Veloz’s Electric For All vision. We hope you’ll join us in supporting this next phase of EV adoption and economic expansion.
EV facts are highlighted, and myths are busted here each month in my Ride to Zero Blog. Sign up here to get the latest news, invitations to events, and announcements on the road to electrified transportation.