The future of electric transportation is evolving rapidly. In response, the Edison Electric Institute (EEI) and the Institute for Electric Innovation (IEI) developed this updated EV sales forecast starting 2018 through to 2030 and have estimated the associated charging infrastructure needs. The EEI/IEI forecast is a consensus forecast based on five independent forecasts.
The results show the following:
- The stock of EVs (i.e., the number of EVs on the road) is projected to reach 18.7 million in 2030, up from slightly more than 1 million at the end of 2018. This is about 7 percent of the 259 million vehicles (cars and light trucks) expected to be on U.S. roads in 2030.
- It took 8 years to sell 1 million EVs. We project the next 1 million EVs will be on the road in less than 3 years—by early 2021.
- Annual sales of EVs will exceed 3.5 million vehicles in 2030, reaching more than 20 percent of annual vehicle sales in 2030. Compared to our 2017 forecast, EV sales are estimated to be 1.4 million in 2025 versus 1.2 million.
- About 9.6 million charge ports will be required to support 18.7 million EVs in 2030. This represents a significant investment in EV charging infrastructure.