The Bright Future of Electric Vehicles in the U.S. – Looking Past the 2024 Election
With the 2024 election now behind us, it’s time to look ahead at the evolving landscape of transportation in America. At EVNoire, we remain committed to the advancement of multimodal electric, connected, autonomous, and shared vehicles.
We’re optimistic about the trajectory of electric vehicles (EVs), confident that their continued growth and transformative potential transcend political outcomes. Terry Travis, Co-Founder and Managing Director of EVNoire, shared, “Our organization’s extensive work with a multitude of stakeholders–from auto manufacturers and utilities to government agencies and public health organizations–has demonstrated the promise of electric mobility for all.”
The surge in EV sales over recent years highlights their role as a central component of America’s transportation future. In 2024’s third quarter alone, sales saw an 11% year-over-year increase, reaching record highs in both volume and market share. This growth has been driven by greater model availability, advancements in battery technology, and strategic policy support, solidifying EVs as a mainstream option for consumers.
The Economic Promise of Electric Vehicles
The rapid expansion of the EV industry represents more than a technological shift; it’s an economic boon that is reshaping the American manufacturing landscape. Recent data from the Environmental Defense Fund and WSP USA shows investments in EV manufacturing over the past nine years have surged to $199 billion.
The domestic production of EVs, along with their batteries and other components, has created more than 200,000 new EV-related jobs in the U.S. over the last nine years and could potentially generate up to 931,000 additional jobs across various sectors. These opportunities extend to workers from a variety of educational and employment backgrounds, with occupations in research and development, manufacturing, maintenance, infrastructure development, sales, training, and more.
EVNoire has witnessed firsthand how local economies can prosper when EV manufacturing is backed by a skilled workforce with expertise in infrastructure maintenance, ensuring sustained growth in electrification efforts. Investments in battery plants and EV assembly facilities are not only beneficial for regions already known for traditional automotive manufacturing but also present a valuable opportunity for states that have not historically been associated with the auto industry to step into EV-related manufacturing.
Empowering Equity through Electric Mobility
The social benefits of EV adoption include reduced transportation costs, improved air quality, and healthier living environments—critical factors for communities that have disproportionately borne the brunt of pollution and climate impacts. By working with transit agencies, community developers, and public health organizations to encourage transportation electrification, e-mobility can be a vehicle for social equity.
One of the most promising innovations in EV technology is bidirectional charging, which enables EVs to supply energy back to the grid or power homes during outages. This capability offers significant resilience benefits, allowing communities to maintain energy stability during natural disasters or periods of peak demand. By acting as mobile energy storage units, EVs contribute to grid flexibility and energy independence, enhancing community resilience and reducing the impact of power outages.
The Environmental Benefits of Driving Electric
The transportation sector is the largest contributor of direct greenhouse gas emissions according to the Environmental Protection Agency. With over half of the emissions from the transportation sector resulting from the combustion of gasoline, diesel fuel, and other petroleum-based products, transitioning from internal combustion engines to electric vehicles will significantly lower greenhouse gas (GHG) emissions.
Reduced emissions have tangible public health benefits associated with cleaner air, including lower rates of respiratory problems, particularly in urban areas. The International Council on Clean Transportation found that EVs reduce life-cycle GHG emissions by 37%-45% over the lifetime of average medium-size battery-electric vehicles.
Driving Electric Helps Consumers Save Money
Beyond their environmental and social impact, EVs also offer significant financial benefits for drivers. One of the most notable advantages being the reduction in fuel costs–the average EV driver will spend 60% less to power their vehicle than drivers of gas powered vehicles. With more than 200,000 public charging ports available nationwide and more being installed every day, convenient and reliable EV charging options are more accessible than ever.
EVs also have fewer moving parts and no need for oil changes, resulting in lower maintenance costs than traditional gas powered vehicles. With fewer moving parts and no need for oil changes, a typical EV owner will spend half as much to maintain and repair their vehicle as owners of gas powered cars. Tax incentives, rebates, and state-level incentives can also lower the upfront cost of purchasing an EV, making them more accessible to a wider range of consumers.
The Road Ahead
At EVNoire, we know that the EV movement is not contingent on any one political outcome but is driven by a broad coalition committed to innovation, sustainability, and economic progress. The growth of charging infrastructure, propelled by collaborations between private enterprises and public agencies, ensures that the transition to electric mobility continues to accelerate.
Our work, rooted in data-driven, community-focused programs, demonstrates that the benefits of EVs resonate across the spectrum—appealing to environmental advocates, economic growth supporters, and those prioritizing energy resilience. The EV sector's future is bolstered by partnerships spanning from transit authorities and developers to international e-mobility organizations, highlighting a united and powerful movement.
