US EV market projected to increase by 20% thanks to recent climate initiatives
Are you noticing more electric vehicles driving by on your daily commute? It’s not just you. The US EV market just breached 6.7% in the first half of 2022, up from just 1.8% in 2019. And, new data suggests this is just the start as recent US climate initiatives put the US EV market into overdrive.
US EV market set to accelerate by 20% due to IRA bill
With an expected 1.64 gigatonnes of carbon dioxide (GtCO2) in 2022, North America has the highest emissions from transportation globally, according to a new study from BloombergNEF.
Over the past several years, the United States has been slower than China and Europe when it comes to zero-emission electric vehicle adoption. China was responsible for over half (56%) of global EV sales, while Europe accounted for 28% in the first half of 2022.
Several countries in Europe have experienced explosive growth in EV market share from 1H 2019 to 1H 2022. For example:
- Germany: 3% to 26%
- UK: 2.2% to 24%
- France: 2.8% to 21%
Why has the United States lagged, you ask? For one, the deployment of publicly available fast chargers (and EV chargers in general) has been much quicker in other countries. Furthermore, stricter policies and mandates have accelerated the transition.
Meanwhile, recent climate initiatives and updated fuel economy standards in the United States are pushing the EV market to new heights. The Inflation Reduction Act, passed in August, provides a tax credit of up to $7,500 for new light-duty EV purchases, $4,000 for used EVs, and $40,000 for heavy-duty commercial electric vehicle purchases.
BloombergNEF’s study notes that the US EV market outlook has changed drastically over the past year:
Recent regulatory changes in the US – the Inflation Reduction Act and revised fuel economy regulations – are expected to accelerate EV uptake in the country and bring it closer to the EV ‘leaders.
BNEF estimates 64% of EVs sold in the United States in the first half of the year qualify for at least a part of the new EV tax credit compared to 31% under the old policy.
On top of this, the IRA bill includes “powerful incentives” to speed up domestic battery manufacturing. The IRA bill has already attracted over $40 billion with 15 new EV battery plants or expansions.
Perhaps, more important, the National Electric Vehicle Infrastructure (NEVI) program, part of Biden’s Bipartisan Infrastructure Law, supplies $5 billion in funding to create a national EV charging network to promote EV adoption across the United States. All 50 states now have approved plans to build the network.
As a result of the recent US climate initiatives, BNEF predicts:
The US EV fleet will be over 20% larger by 2030 than previously forecasted.
Electrek’s Take
The data from BNEF confirms incentives and policy changes work to drive zero-emission EV adoption. The recent initiatives in the United States are already starting to pay off, with EV sales hitting new records each month.
Take California, for example, which has rolled out charging infrastructure much quicker than other states. The state has nearly 30% of the EV chargers in the United States and also holds an 18% EV share, almost triple that of the US average.
With new incentives and policy changes driving adoption, 2023 should be a big year for most US states in terms of EV adoption, and buy-in should progress even more toward the end of the decade.
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Environment
Schumacher Level 2 EV charger $364, NIU’s 300P electric scooter $719, Anker 90K mAh power station from $170, more
A new week kicks off with a notable power station markdown, powerful electric scooter discount, and even a level 2 EV charger. More specifically, we’ve spotted Anker’s 90,000mAh SOLIX C300 Portable Power Station at $220 alongside the DC model for $170. The others we just called out include NIU’s 300P electric scooter with a 30-mile range at $719 and Schumacher’s 40A Level 2 wall charger which can add up to ’48 miles of range per hour’ to your EV down at $364.
Head below for more and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.
Schumacher’s Level 2 wall charger adds up to ’48 miles of range per hour’ to your EV, now $364 (Reg. $500)
Over at Amazon you can currently pick up Schumacher’s 240V Level 2 Electric Vehicle Wall Charger for $363.86 shipped when you clip the on-page $50 off coupon. Routinely sold for $500, this unit has been down between $410 and $415 for a little over a month now at Amazon. Today’s offer takes things even further, with an additional $50 off. This markdown delivers the second-best price we’ve tracked, coming within $12 of the all-time low. Learn more about this charger in the details below.
If you have an EV, I personally think it’s worth investing in a level 2 charger for your home. This makes refueling your vehicle with electricity much faster than a standard level 1 unit. The brand officially claims you can expect “from 15 to 48 miles of range per hour.” This will obviously vary depending on the EV you drive, but it’s safe to say that with this unit you can head to bed and have a lot of range, or potentially a fully charged battery in the morning. Other notable perks include a 25-foot charging cable, Wi-Fi and Bluetooth so you can monitor and schedule charging through the companion SchuPower app, as well as a weather-resistant enclosure.
Make summer a blast on NIU’s 300P electric scooter with 20 MPH speeds, 30-mile range, more at $719 (Save $230)
Today you can find the official NIU Global storefront at Amazon offering its KQi 300P 20 MPH 30-Mile Range Electric Scooter for $719 shipped. It’s also available at Best Buy. When this unit isn’t discounted, you’ll need to fork over as much as $949. Historically speaking, the lowest we’ve ever seen this unit go for was $650, and that was last year. In 2025, we’ve seen today’s offer beaten just once and it was $30 less than the current price, which isn’t a massive loss by any means. Both the gray and black colorways are on sale for the same amount, so feel free to pick either style. Learn more about what this scooter is capable of down below.
Powered by a 900W motor, this electric scooter can reach up to 20 MPH speeds. My go-to scooter goes just as fast and I absolutely love it. In terms of range, you can make it as far as 30 miles per charge, allowing you to comfortably wander up to 15 miles away and still make it back home. I like that this unit offers integrated suspension, which should reduce the impact of bumps when riding for a more smooth experience overall. There’s even a NIU app that you can download which paves the way for locking it, customizing its speed, viewing statistics, and more. You can even dial in a charging limit, helping reduce battery fatigue overtime which is a perk I use with my Segway.
Anker’s 90,000mAh SOLIX C300 Portable Power Station down at $220 today, DC model now $170
Update: Joining the deals on the AC/DC model below, the official Anker Amazon storefront is now delivering a another chance at Lightning deal pricing on the Anker SOLIX C300 DC Power Station with the pop-up camp lighting down at $169.99 shipped. This one carries a regular price at $250 direct from Anker where it is now matching in price and, while it has lately sold for between $190 and $200 at Amazon, is now at the lowest price we can find.
As part of its early Prime Day deals, the official Anker Amazon storefront is now offering its SOLIX C300 Portable Power Station down at $219.99 shipped. Carrying a $299 list price and typically fetching as much via Amazon over the last 4 months, this is up to $80 in savings and matching the price we are tracking on the Anker SOLIX site. Just keep in mind, that if you can put two of them to good use, the Anker site is offering a pair of them down at $399 right now, delivering an additional $40 in savings.
While this model has carried a regular price at closer to $250 since its release in 2024, pricing started to jump up at Amazon to as much as $299 back in March – the same price this model is listed at on the Anker site. Today’s deal isn’t the lowest we have tracked all-time – there have been a few drops to $209 and $189 this year – but this is the best we have seen on Amazon in last few months.
This model, at least for me, is one of the more compelling options in its price range. It maintains a relatively compact form-factor for something that carries a 90,000mAh LiFePO4 battery with up to 600W of peak power to keep your campsite and off-grid setup lit up and powered (it’s also not a bad option to have around the house in case of power outages or emergencies and the like).
You’re not going to be running an entire house on it, but it does deliver a whole lot more juice than your average power bank, plenty of connectivity options for all of your tech and small appliances, and comes along with a far more digestible price tag than some of these high-end, ultra-powerful stations that can cost thousands.
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CANNES — Robinhood stock climbed 10% to an all-time high Monday after the company rolled out tokenized shares of OpenAI and SpaceX to users in Europe as part of a larger crypto rollout.
It is the company’s first move to make private equity accessible via blockchain.
The announcement, which came Monday during the company’s product showcase in Cannes, is part of a broader push to expand Robinhood’s crypto footprint globally. The tokenized assets will be available exclusively through Robinhood’s EU crypto app, where more than 200 tokenized stocks and ETFs are now tradable 24 hours a day, five days a week with no commission or spread.
OpenAI and SpaceX stand out since neither company is publicly listed, and access to their equity has historically been limited to insiders and ultra-wealthy investors.
“We wanted to make sure we were giving access,” said Johann Kerbrat, senior vice president and general manager of crypto at Robinhood. “What we discussed on stage was how to address the inequality between people who’ve historically had access to these kinds of companies — and everyone else. That’s the really exciting part: Now everyone will be able to get it.”
“The goal with tokenization,” he added, “is to let anyone participate in this economy.”
To mark the launch, Robinhood is giving 5 euros worth of OpenAI and SpaceX tokens to every eligible user in the European Union who onboards to trade stock tokens by July 7. The company has allocated $1 million worth of OpenAI and $500,000 worth of SpaceX for the campaign.
This marks the first time Robinhood has tokenized private companies — a milestone made possible, in part, by the EU’s more flexible regulatory environment.
“There are no accredited investor rules here in the EU, so anyone who qualifies to trade stock tokens is able to access them,” Kerbrat explained.
While the EU rollout is underway, Robinhood says U.S. users shouldn’t expect access anytime soon.
Regulatory hurdles — particularly accredited investor restrictions — remain a major barrier to bringing tokenized private equity to the U.S. market. CEO Vlad Tenev has publicly called for reform, arguing that blockchain could unlock broader participation in private markets.
The tokenized shares are being distributed via Robinhood’s custody wallet into user accounts, part of a broader infrastructure push that also includes the company’s new Layer 2 blockchain built on Arbitrum, which were announced the same day.
And while American users can’t yet access tokenized shares of private companies, they are gaining access to crypto staking.
Robinhood also launched staking for Ethereum and Solana in the U.S., a feature that was previously blocked by the Securities and Exchange Commission. The move signals a renewed push to reintroduce yield-bearing crypto products to the domestic market.
Kia is preparing to introduce a new three-row electric SUV in less than two weeks, and it’s not the EV9. The “Big, Bold Family Vehicle” marks a milestone for Kia, but it might be tough to get your hands on one.
When is Kia launching the three-row Carens Clavis EV?
After launching the Carens 2021, a three-row SUV, Kia’s CEO, Ho Sung Song, said it would “create a completely new segment and industry benchmark for family vehicles.”
With the longest wheelbase in its class and an affordable price tag, the Carens quickly became one of India’s top-selling multi-purpose vehicles (MPVs).
Just a few weeks ago, Kia introduced the new Carens Clavis, a premium version of its popular people mover that’s about to get an EV variant.
On July 15, the Kia Carens Clavis EV will make its official debut. The three-row MPV will be the first locally made Kia EV in India. It will also be one of two electric MPVs on the market, alongside the BYD eMax 7. BYD’s electric MPV starts at Rs 26.90 Lakh ($31,400), while the current ICE Carens Clavis starts at Rs 11.49 Lakh ($13,500).
Kia will announce prices in a few weeks, but the electric version is expected to start at about the same price as the eMax 7.
According to Autocar India, Kia’s three-row EV is expected to share the same underpinnings as the Hyundai Creta Electric, offering battery packs with capacities of 42 kWh and 51.4 kWh.
Hyundai’s electric SUV offers a range of up to 473 km (294 miles), but given the Carens Clavis EV is bigger, it’s likely to see a slightly lower range.
You can see the MPV already shares design elements with Kia’s latest EV models, like the EV9 and EV5. The new “Kia Digital Tiger Face” is featured up front with Ice Cube LED headlights and LED daytime running lights.
On the rear, the tail lamps are connected with a full-length LED light bar featuring Kia’s signature Starmap lighting.
The interior is expected to remain about the same as the gas Carens Clavis, with a “best-in-segment” infotainment system screen featuring dual 12.3″ navigation and driver display screens in a panoramic curved setup.
Check back soon for prices and final specs on July 15 when Kia officially launches the new three-row EV.
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