- 2021 was a hugely important year for electric vehicles and the revolution will continue in 2022.
- Over the next year, consumers will have more electrical options to choose from than ever before.
- The market share of electric vehicles is expected to rise to 5%, compared to less than 3% in 2021.
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This time around, in 2021, Ford hadn’t unveiled a battery-powered pickup truck, the White House was more interested in lowering fuel economy standards than supporting zero-emission cars, and long-term electric vehicle startups had many orders but no sales to show for it.
A year later and that has changed.
Ford’s F-150 Lightning has received around 200,000 reservations since its big debut in May. The Biden government wants to supply the US with 500,000 new charging stations for electric vehicles. This fall, two upstarts – Rivian and Lucid – beat the odds and began shipping impressive luxury electric vehicles to customers.
That’s all to say 2021 was a big year for the switch to electric transportation. Expect 2022 to get even bigger as the appetite for zero-emission cars grows, production speeds up, and more options hit the market.
The F-150 Lightning hits the market next spring with a starting price of $ 40,000.
ford
Tesla is struggling to keep up with the booming demand for its cars, and we should see production capacity continue to increase dramatically in 2022. Two new plants in Berlin and Texas will go online shortly, greatly expanding the ability of the country’s most popular electric vehicle maker to satisfy orders.
Tesla may be the dominant electric car company today, but it’s hardly the only player to watch out for. Giants like Ford, Volkswagen and Toyota are all planning to unleash a tidal wave of new electric vehicles in 2022 and beyond. According to Sam Abuelsamid, a senior research analyst at Guidehouse Insights, the number of electrical options in the US should double from about 20 now to about 40 by the end of next year.
Crucially, it is easier for consumers to find an electric car that fits their lifestyle and budget than ever before, Abuelsamid told Insider, which should encourage adoption. Until recently, the EV curious essentially had a choice between an expensive Tesla or a small hatchback. But over the next several years, buyers will be able to browse a growing lineup of battery-powered pickups and SUVs, body styles that have been sorely missed in the electronics market despite being exactly the types of vehicles Americans crave.
“For electric vehicles to be even more successful than before, they must first and foremost be used in a type of vehicle that the consumer wants,” said Stephanie Brinley, Principal Automotive Analyst at IHS Markit, in an interview. “A consumer who needs a pickup truck will not be satisfied with a hatchback electric vehicle because of the electricity.”
Toyota’s BZ4X, roughly the same size as its popular RAV4, will hit dealerships in mid-2022.
Toyota
Ford will start selling the F-150 Lightning in 2022, and Cadillac will launch its first e-SUV, the Lyriq. Toyota, the country’s best-selling compact SUV, will launch an electric SUV called the BZ4X.
But 2022 will not come without headwinds. This year’s supply chain confusion wreaked havoc across the automotive sector, affecting everyone from Tesla to GM. The persistent shortage of computer chips or unexpected increases in raw material costs could hinder the production of electric vehicles in the short term, Abuelsamid said.
IHS Markit estimates that the emission-free share of the US auto market will grow to a new high of 5% in 2022. That’s a big jump from the nearly 3% market share that electric vehicles captured in 2021, but it still represents a tiny fraction of the 15.5 million new vehicles the company plans to add over the next year.
Although electric cars are making headlines and exciting developments are on the way in 2022, the transition away from gasoline cars is only just beginning, Brinley said. The market share of electric vehicles will be in double digits in 2025 and reach around 31% by 2030, predicts IHS Markit.
“It’s not the crucial moment,” said Brinley. “It happens, but we still have a way to go.”
