We might start to get some great used electric car deals starting in 2026 as EV lease returns are expected to surge in a big way.
While the EV revolution has been going on for over a decade now, the used EV market is still quite immature because EVs have only been delivered in large volumes for the last few years.
2026. That is going to be the year of the used EV.
J.D. Power is out with a new report that states an expected 230% increase in electric vehicle lease return in 2026:
Lease volumes for new EVs surged 355% throughout 2023 and 88% through September 2024. Franchise-only (excluding Tesla) EV lease volumes were even higher, rising 438% throughout 2023 and 109% through September 2024. As a result, returning EV lease volumes are projected to dip slightly in 2025 before spiking 230% in 2026. This trend runs counter to what’s happening industry-wide where total lease volumes for gas-powered vehicles have been lower than pre-pandemic levels, creating a likely shortage in used-vehicle availability in 2025 and 2026.
After projections for a roughly flat year in 2025, the report expects a massive increase in 2026 based on current lease data:
The reason for the surge is quite simple. The highly reported “lease loophole” to get access to the tax credit has resulted in a surge of EV leases:
Due in large part to a provision in the federal Clean Vehicle Tax Credit, which allows auto dealers to pass along a $7,500 tax credit to all EV lessees, nearly half (46%) of all franchise EV sales and 21% of total EV sales (including Tesla) in 2023 were leases. That trend continued throughout the first nine months of 2024, with the lease share of total franchise and Tesla EV volume reaching 30%. Meanwhile, lease volumes for gas-powered vehicles have been lower than pre-pandemic levels. Industry-wide, just 2.4 million gas-powered vehicles were leased in 2023. While that represents a 17% increase from 2022, it is still considerably lower than the pre-pandemic average of more than three million leases annually, which will likely create a shortage in used-vehicle availability in 2025 and 2026.
While some of those leasers are going to keep their vehicles, many are going to give them back and upgrade, resulting in a surge of used EVs available for sale.
Used EV prices have already come down greatly, partly due to Tesla slashing prices in order for demand to keep up against its rapidly growing production capacity between 2020-2023.
Now, these fresh “new” used EVs to hit the market in 2026 are likely going to put a lot of pressure on used EV prices.
Electrek’s Take
I am excited for more mature used car markets even if it means that EV value will drop in 2026.
Most people buy used cars and so far, they have been quite limited in their EV options. It does sound like 2026 will be the year when the used EV market will expand into something more impactful, and lower-income people will be able to get off of gas.
It’s going to be a big step in the EV revolution.
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Starting with the 2026 Cadillac Optiq, all future GM EVs will have a built-in NACS port, including the new Chevy Bolt. In the meantime, GM introduced several new charging adapters for current Chevy, Cadillac, and GMC EV owners.
GM launches new NACS adapters for EVs
You know how the iPhone seems to get a new plug every year? GM compared the transition to NACS to the evolution of USB-C in smartphones and laptops and the HDMI standard for TVs.
With a similar movement with EV charging transitioning to the NACS standard, GM aims to make the transition as seamless as possible.
Starting with the 2026 Optiq, Cadillac’s new entry-level electric SUV, all future GM EVs will be equipped with an NACS charge point as standard. And yes, that does include the upcoming 2027 Chevy Bolt EV, which is expected to make its official debut by the end of the year.
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The company introduced four new chargers this week to “help ensure that every customer can navigate this transition,” including NACS-to-CSS, CSS-to-NACS, and several others.
2026 Cadillac Optiq EV (Source: Cadillac)
GM’s new adapters are mainly designed to help drivers access Tesla’s Supercharger Network. However, the company is also offering an adapter for NACS-equipped EVs to connect to its Level 2 PowerShift home charger. Another adapter for NACS-equipped models enables vehicle-to-home (V2H) capabilities.
The new adapters are in addition to the NACS DC Adapter that GM began selling last year, so drivers could use Tesla Superchargers.
To help you understand which adapter you need, GM has created a helpful graphic. Although it may seem like a lot, the new adapters are really just designed to help current owners get the best charging experience while GM works to add native NACS ports to all its upcoming EVs.
GM electric vehicle adapters (Source: GM)
With over 46,000 electric vehicles sold in the second quarter, GM is starting to chip away at Tesla’s dominant lead in the US. Thanks to the new Equinox EV, or “America’s most affordable 315+ range EV,” Chevy became the fastest-growing electric vehicle brand in the US earlier this year.
With leases starting at just $279 a month, the Chevy Equinox EV is hard to pass up right now. If you want to test out one of GM’s electric vehicles for yourself, you can use our links below to find Chevy, Cadillac, and GMC EVs near you.
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ChargePoint (NYSE: CHPT) and Eaton just unveiled ChargePoint Express Grid, powered by Eaton, a V2X‑ready ultrafast EV charging platform with full‑site power gear that pushes passenger EV charging up to 600 kW and brings megawatt‑level power for heavy‑duty fleets.
It’s designed to overcome grid constraints and make it easier and cheaper to roll out high‑power charging as more EVs hit the road.
The system is V2G‑enabled and can sync onsite renewables, energy storage, and EV batteries with local energy markets to help fleets cut fueling costs. With participating utilities and at scale, it can also help balance the grid.
How it works
Eaton custom engineers each Express configuration and ships the site‑ready power package, with an optional skid‑mounted setup to speed installation, trim equipment needs, and simplify connections to the grid and distributed energy resources (DERs).
Eaton plans to commercialize solid‑state transformer technology in the next year through its acquisition of Resilient Power Systems to support DC applications for the EV market and beyond.
ChargePoint CEO Rick Wilmer said the new ChargePoint Express architecture, particularly the Express Grid variant, will “take DC fast charging to levels of performance and cost not previously imagined.” He added, “Combined with Eaton’s end-to-end grid capabilities, ChargePoint is delivering solutions to help EVs win on pure economics, regardless of tax incentives or government support.”
Eaton’s Paul Ryan, vice president and general manager of energy transition, called it “industry‑changing technology” that can be deployed faster while achieving new levels of reliability and efficiency “at a significantly lower cost.”
Express solutions are available to order for select customers in North America and Europe, with deliveries beginning in the second half of 2026.
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Quick specs
Platform: ChargePoint Express Grid, powered by Eaton
Capability: V2X (with integrated V2G)
Power: Up to 600 kW for passenger EVs; megawatt‑level for heavy‑duty
Deployment: Site‑ready power package; optional skid‑mounted configuration
Grid/DER: Built to sync renewables, storage, and vehicle batteries with local energy markets
Timeline: Orders open (select customers, North America & Europe); deliveries start H2 2026
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Only in China can a company specializing in robot vacuums be bold enough to design, manufacture, and sell EVs. Additionally, China is the only place where such a business could actually work. A company named Dreame Technology is transcending smart appliances and wants to deliver ultra-luxury BEVs. Better still, it’s already targeting Bugatti as its main competitor. Dreame big!
Dreame Technology was founded in 2017 with the goal to, per its website, “revolutionize daily life for our global consumers.” Dreame currently offers a number of electronics that do just that, including robot vacuums, robotic pool cleaners, and hair dryers.
Over the last eight years, Dreame has accumulated manufacturing know-how and its team understands much of the technology behind electric mobility, but does that mean it’s capable of transitioning into a bona fide BEV automaker?
We saw Chinese smartphone behemoth Xiaomi, announce a similar strategy back in 2021. Now, a mere four years later, Xiaomi Automobile’s two flagship BEVs are among China’s most sought-after, and the company is setting world speed records with its technology.
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Dreame Technology has likely drawn some inspiration from Xiaomi, but its automotive development plans actually predate the company’s existence. Today, the robot vacuum maker has already assembled a massive team to “Dreame up” its first all-electric model—one it says will compete against the Bugatti Veyron.
Dreame’s current product offering / Source: Dreametech.com
From robot vacuums to luxury EVs? Meet Dreame
As reported by CnEVPost, Dreame Technology officially announced its entry into the ultra-competitive BEV industry in China, beginning with an ultra-luxe model planned for a 2027 debut that will compete against the Bugatti Veyron.
The flagship EV from the robot vacuum developer will be powered by Dreame super motors as well as an intelligent ecosystem that differs from traditional luxury vehicles, enabling “seamless integration” with user smart homes and smartphones. Per Dreame Technology:
Today, Dreame officially announces its entry into automotive manufacturing to build the world’s fastest car.
While Dreame’s decision to evolve beyond robot vacuums and pool cleaners into BEVs may seem hasty, the company explained that its plans for vehicle development actually date back to 2013, four years before the current iteration of the company was established.
Per the company, it has already assembled an automotive team of nearly 1,000 people, which it will continue to expand as development of its flagship BEV model continues. The company added:
We may not be the earliest to embark on this journey, but we will be the most determined.
What do you guys think? Can a robot vacuum company deliver the world’s fastest BEV? Can it even deliver an all-electric model that can compete in China’s saturated market? Xiaomi did it, so there’s hope. This will be a developing story to keep an eye on.
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