US to fall behind EU and China in EV production

A recent report by the International Council on Clean Transportation (ICCT) revealed that the US is seriously lagging behind the EU and China in the Electric Vehicles (EV) market.

Indeed, it was found out that China remains the largest EV producer by making up almost half of the global EV production throughout 2020. It is followed closely by Europe, which represents around 25% of the market. The US then only come in third, with 18% of the market, a decrease of 20% since 2017.

This study showed that China and Europe managed to climb in the EV market due to better regulations, infrastructure, and incentives as well as better commitments from global EV automakers.

Hence, it was stated that only 15% of the $345 billion EV investment would go to the US and only 2.3 million of EV are planned to be manufactured in the US. It seems that the United States is falling behind its European and Chinese counterparts.