Datastream
The Number of EV Models Will Double by 2024
The Briefing
- The number of electric vehicle (EV) models available in the U.S. will double by 2024, in comparison to what was available at the beginning of 2022
- Legacy automakers are set to release a wave of fully electric vehicles
The Number of EV Models Will Double by 2024
Buyers in the market for an EV will have plenty of options to choose from over the next few years. It’s expected that there will be 134 models on sale in the U.S. by 2024—more than double of what’s available today.
| Year | Number of EV models available |
|---|---|
| 2010 | 2 |
| 2015 | 21 |
| 2020 | 48 |
| 2024 (projection) | 134 |
Note: These figures may include variations of the same model. Example: The Tesla Model 3 comes in Base, Long Range, and Performance trims.
This wave of new electric models is being primarily driven by legacy automakers, many of whom are entering the EV market for the first time. For industry leader Tesla, it means that there is greater competition on the way.
This greater variety of vehicles comes at a time when interest in owning an electric vehicle is rising. In a recent survey from Morning Consult, the majority of American adults (51%) now report being very or somewhat likely to purchase a fully electric vehicle over the next decade.
Millennials are the most likely to be considering an EV as their next vehicle (70%).
The Latest EV Push: Trucks
Truck buyers have been waiting for their turn to experience electric power, and legacy brands like Ford, Chevrolet, and GM are ready to deliver.
Models include the recently announced Chevrolet Silverado EV, which should arrive shortly after the F-150 Lightning and Rivian R1T electric pickups. GM is also teasing its upcoming Hummer EV, which promises a whopping 1,000 horsepower.
Pickups and SUVs typically generate higher margins for automakers, so this next wave of EV models is an opportunity they won’t want to miss.
Where does this data come from?
Source: Electric Power Research Institute via Morning Consult, GM Authority, and Car and Driver
Datastream
Can You Calculate Your Daily Carbon Footprint?
Discover how the average person’s carbon footprint impacts the environment and learn how carbon credits can offset your carbon footprint.
The Briefing
- A person’s carbon footprint is substantial, with activities such as food consumption creating as much as 4,500 g of CO₂ emissions daily.
- By purchasing carbon credits from Carbon Streaming Corporation, you can offset your own emissions and fund positive climate action.
Your Everyday Carbon Footprint
While many large businesses and countries have committed to net-zero goals, it is essential to acknowledge that your everyday activities also contribute to global emissions.
In this graphic, sponsored by Carbon Streaming Corporation, we will explore how the choices we make and the products we use have a profound impact on our carbon footprint.
Carbon Emissions by Activity
Here are some of the daily activities and products of the average person and their carbon footprint, according to Clever Carbon.
| Household Activities & Products | CO2 Emissions (g) |
|---|---|
| 💡 Standard Light Bulb (100 watts, four hours) | 172 g |
| 📱 Mobile Phone Use (195 minutes per day)* | 189 g |
| 👕 Washing Machine (0.63 kWh) | 275 g |
| 🔥 Electric Oven (1.56 kWh) | 675 g |
| ♨️ Tumble Dryer (2.5 kWh) | 1,000 g |
| 🧻 Toilet Roll (2 ply) | 1,300 g |
| 🚿 Hot Shower (10 mins) | 2,000 g |
| 🚙 Daily Commute (one hour, by car) | 3,360 g |
| 🍽️ Average Daily Food Consumption (three meals of 600 calories) | 4,500 g |
| *Phone use based on yearly use of 69kg per the source, Reboxed | |
Your choice of transportation plays a crucial role in determining your carbon footprint. For instance, a 15 km daily commute to work on public transport generates an average of 1,464 g of CO₂ emissions. Compared to 3,360 g—twice the volume for a journey the same length by car.
By opting for more sustainable modes of transport, such as cycling, walking, or public transportation, you can significantly reduce your carbon footprint.
Addressing Your Carbon Footprint
One way to compensate for your emissions is by purchasing high-quality carbon credits.
Carbon credits are used to help fund projects that avoid, reduce or remove CO₂ emissions. This includes nature-based solutions such as reforestation and improved forest management, or technology-based solutions such as the production of biochar and carbon capture and storage (CCS).
While carbon credits offer a potential solution for individuals to help reduce global emissions, public awareness remains a significant challenge. A BCG-Patch survey revealed that only 34% of U.S. consumers are familiar with carbon credits, and only 3% have purchased them in the past.
About Carbon Streaming
By financing the creation or expansion of carbon projects, Carbon Streaming Corporation secures the rights to future carbon credits generated by these sustainable projects. You can then purchase these carbon credits to help fund climate solutions around the world and compensate for your own emissions.
Ready to get involved?
>> Learn more about purchasing carbon credits at Carbon Streaming
-
VC+6 days agoWhat’s New on VC+ in September
-
Maps4 weeks agoVisualizing the BRICS Expansion in 4 Charts
-
Markets2 weeks agoThe 25 Best Stocks by Shareholder Wealth Creation (1926-2022)
-
Business3 days agoRanked: The 20 Best Franchises to Open in the U.S.
-
Technology4 weeks agoNvidia vs. AMD vs. Intel: Comparing AI Chip Sales
-
Money2 weeks agoHow Much Does it Take to Be Wealthy in America?
-
Markets2 days agoRanked: The Highest Paid CEOs in the S&P 500
-
Green4 weeks agoThe Anthropocene: A New Epoch in the Earth’s History