Five pictures to understand the current and future of the electric car market

October 05, 2020

Tesla plans to build a 5 million square foot (46.45 hectares) superbattery plant that will not only be the world's largest battery plant, but will also be one of the largest in the world. But just a few hours before Tesla’s CEO Elon Musk staged the $5 billion super battery factory on the stage, the electric vehicle sales data for August was just released. It has triggered a series of reports about the weakening interest of Americans in electric vehicles.

What does this mean? If no one buys an electric car, why does Tesla build a battery factory that can produce 500,000 electric cars a year? The following four figures illustrate why Tesla built a super battery factory:

Bad news came

Electric vehicle market share

Electric vehicle market share (dark blue for hybrid, light blue for plug-in)

In August of this year, the sales of electric vehicles fell again from last month. The market's interest in electric vehicles has not diminished, but hybrid (HYbrid) and PLUG-IN (plug-in) electric vehicles together account for only 4% of the car sales market, indicating that consumers have not really begun to flock to electric vehicles. In the above diagram, dark blue represents a hybrid car, and light blue represents a plug-in hybrid. Combine them together, which is the general term for so-called electric vehicles.

However, it should be noted that the sales stagnation of the hybrid sedan (dark blue) has completely emerged. The representative of this type of electric vehicle, the Toyota Prius, uses a hybrid electric-powered hybrid engine, which is not exactly the same as Musk’s desire to use energy-efficient lithium batteries to smash electric vehicles in the market.

Plug-in electric vehicles develop at a high speed

The number of existing plug-in cars in the market

The amount of plug-in cars available in the market (light purple represents new monthly sales, dark purple represents total)

The picture above shows the total number of plug-in electric vehicles in the United States. Light purple represents the monthly growth, and dark purple represents the total amount of plug-in electric vehicles sold since December 2010.

Although the sales growth of plug-in electric vehicles has been very large, the proportion of car ownership and sales in this category is still very low.

Quietly accelerate growth

Plug-in electric vehicles account for US car sales

Plug-in electric vehicles account for US car sales

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