In 2021, the electric vehicle (EV) penetration rate in North America was low, at less than 4%, but several geopolitical factors are sending this development on an upwards trajectory. For example, a ban on Russian oil by the United States and Canada after the start of the Russo-Ukrainian War has caused oil prices to soar in many places. As a result, the volume of people opting for EVs over their fossil fuel-powered counterparts is on the rise.
Also, as environmental regulations become more stringent, corporates have begun to rethink their mobility policies to both reduce their carbon footprint and optimize costs. However, they are not largely willing to risk the disadvantages of owning EVs, such as high depreciation and the fast-paced advancement of technology, which causes a relatively new vehicle to appear redundant in no time.
GROWTH PIPELINE DIALOG™
Take your first step towards achieving growth-centric solutions with our
Growth Pipeline Dialog™. Speak to our industry experts in a complimentary open discussion that will spark innovative thinking and growth opportunities that will benefit your organization.