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The US EV market closed out 2024 on a high note despite swirling uncertainty about the future of federal tax incentives. Cox Automotive’s newly released Q4 data shows a record 365,824 EVs sold – up 15.2% from the previous quarter – and annual EV sales of 1.3 million, a 7% increase from 2023. 

We spoke with Stephanie Valdez Streaty, strategic planning director at Cox Automotive, about how these strong numbers underscore growing consumer interest in electrified transportation, even as key federal policies remain in flux. 

Electrek: What role is leasing playing in growing EV adoption? 

Stephanie Valdez Streaty: Notably, we continue to see leasing serve as a prime pathway for EV adoption. With purchase incentives subject to a variety of eligibility rules, many consumers have gravitated toward EV leases instead. 

This “leasing loophole” has fewer restrictions, making it a particularly attractive option for those models that do not qualify for the full purchase tax credit. 

In recent months, leasing rates have surged as automakers and dealers encourage consumers to take advantage of lower monthly payments, reduced risk of depreciation, and immediate federal subsidies funneled through the lessor. 

While it’s difficult to tease out exactly how fears of expiring incentives fuel these numbers, there is little doubt that the current federal tax structure is helping put more EVs on the road. 

Electrek: Which new EV models are driving sales growth, and what barriers are still slowing widespread adoption?

Stephanie Valdez Streaty: As always, Tesla’s Model 3 and Model Y continue to lead the pack, but Q4 data shows other models rapidly gaining ground. 

Honda’s new Prologue vaulted to the No 3 spot for the quarter after launching in April, buoyed by strong brand recognition and pent-up demand. 

Meanwhile, Chevrolet’s Equinox and Blazer EVs – delayed earlier by software issues – also contributed to higher sales once they came fully online. 

Price remains the single biggest barrier for would-be EV buyers, and truly sub-$30,000 EVs are still scarce in the US market. Yet, with lower-priced models on the horizon – such as potential updates to the Chevrolet Bolt and new entries like the Kia EV3 – manufacturers are working to broaden consumer choice at more affordable price points. The arrival of these options in late 2024 and 2025 may help sustain the upward sales momentum. 

Electrek: If the $7,500 federal Inflation Reduction Act EV tax credit is canceled by the Trump administration, what role could states play in terms of incentives for consumers?

Stephanie Valdez Streaty: Much of the future of EV adoption may hinge on the policy environment. In some states, generous incentives have significantly accelerated the shift to electric mobility. Colorado, for example, has combined its own rebate program with federal tax credits, making EV ownership increasingly accessible –and the state has seen one of the US’s highest jumps in EV adoption over the past year. 

Meanwhile, California remains the largest single EV market, thanks to stricter emissions standards, robust incentives, and a strong charging infrastructure network. Many other states are now following suit by adopting California’s Zero-Emission Vehicle (ZEV) standards – effectively matching or exceeding federal requirements for EV adoption. 

If federal consumer tax credits were to shrink or disappear, analysts suggest that more states could step in to fill the gap with their own subsidies. Whether or not they do, though, may largely depend on budget constraints and each state’s broader clean energy goals. 

Electrek: How could the cancellation of the $7,500 EV tax credit impact the wider EV industry, such as manufacturing?

Stephanie Valdez Streaty: Billions of dollars in EV and battery-manufacturing investments have already flowed into the US, often into states with historically lower EV adoption rates. As these new plants come online, they will require a healthy level of consumer demand to reach scale. That reality ties the fortunes of federal incentives, state policies, and local economies more tightly together. If incentives vanish abruptly, these investments might be underutilized, potentially cooling the pace of the entire EV market. 

Electrek: What are your predictions for the US EV market in 2025 and beyond, despite the lack of policy support from the Trump administration? 

Stephanie Valdez Streaty: Looking ahead, the near-term forecast remains positive. Industry analysts project about a 10% EV market share by 2025, helped by the continued rollout of new models (up to 15 more hitting showrooms in the next year or two) and an improving charging network. Still, the growth rate will likely slow somewhat compared to the initial surge – typical of any maturing technology – and hinge on consumer confidence, price parity with gas-powered cars, and the reliability of fast-charging infrastructure. 

The US still lags behind countries like China, where strong government policy and an abundance of competitively priced EVs have led to even faster adoption. However, the global trend toward electrification is unmistakable, and even if the US road has a few detours – whether in the form of changing incentives, evolving emission rules, or shifting consumer tastes – the trajectory is clear: EVs are well on their way to becoming a fixture of the American automotive landscape. 

Ultimately, how quickly we get there depends on a confluence of factors, including continuing incentives, state-level action, and industry innovation. One certainty is that consumer awareness and acceptance of EVs will keep climbing, with new models, better infrastructure, and flexible financing options pushing the technology further into the mainstream. The destination is electric; the timetable, however, still hinges on what policymakers decide in the months and years ahead.

Read more: Ford CEO warns Trump tariffs will ‘blow a hole’ in the US auto industry like we’ve never seen

Click below to find a local dealer that may have the following EV models in stock (trusted affiliate link):


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All the EVs you can buy with 0% financing in July, 2025

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All the EVs you can buy with 0% financing in July, 2025

The feces-filled freight train of dystopian horrors rolls on with the passage of the Big Beautiful Bill and the untimely demise of the $7,500 federal EV tax credit. But if you’re ready to pull the trigger on a new EV this month, you’re in luck! There are plenty of great options with zero interest financing to choose from … and one with zero interest in general.

You know how we usually do these lists – some pictures, a few punchy paragraphs, and an invitation to explore local deals.

We’re doing things a little differently this month. Instead of brief write-ups, we’re highlighting the most significant 0% deal of the month (yes, that is largely opinion-based – thanks for noticing), and an “honorable mention” that doesn’t quite fit the 0% EV deal template … but might still be worth checking out.

Enough talk! Here are the deals.

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Most significant new 0% offer


Tesla Powerwall 3 Cybertruck
Cybertruck and Powerwall; via Tesla.

Demand for Tesla Cybertrucks has been a long, long way from the “conservative” 250,000 per year projections Elon was making just a few years ago. Demand for the low-poly electric pickup is so dismal, in fact, that Tesla is offering 0% financing on a new Cybertruck for up to 60 months – if you’re willing to spring for the company’s Full Self Driving (Supervised) level 2 ADAS.

Not quite a 0% EV deal


Volvo-EX90-price
Volvo EX90; via Volvo.

Don’t act surprised – my Twitter handle is VolvoJo, after all, and I’m on my fifth consecutive long-roof Swede as I type this. As such, when trying out a new format for this monthly column it made perfect sense to check out the Ironmark’s offers … and I found a good one: a new, not perfect but getting there seven-passenger EX90 at 1.99% financing plus $1,000 in “Summer Safety Bonus Cash.”

Is zero interest financing good enough to overcome the fact that most people seem to have zero interest in buying a CT these days? Is the Volvo worth a look at 1.99% with an additional $1,000 cash back? Let us know your take in the comments – but before you do that, check out the full list of 0% interest EV deals for July 2025 and click the links for additional local deals.

July 0% interest EV deals


Disclaimer: the vehicle models and financing deals above were sourced from CarsDirectCarEdge, and (where mentioned) the OEM websites – and were current as of 07JUL2025. These deals may not be available in every market, with every discount, or for every buyer (the standard “with approved credit” fine print should be considered implied).

Check with your local dealer(s) for more information.


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Lectric XP Trike2 launched as the affordable new electric trike every senior needs!

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Lectric XP Trike2 launched as the affordable new electric trike every senior needs!

The new Lectric XP Trike2, just unveiled today, is the hands-down winner in the best-bang-for-your-buck category of electric trikes. And as perhaps the longest-running electric bike reviewer in the industry, I can say that with confidence. I’ve seen a lot of electric bikes in my time. I’ve spent a lot of butt-in-saddle hours on e-trikes. But I’ve never before seen a value like this roll by on three wheels.

As an able-bodied, mid-30s electric bike rider (and writer), I’ll be the first to say that electric trikes aren’t just for older folks. They’re fun e-bikes in their own right. But let’s face it – the vast majority of the market for electric three-wheelers are those who just aren’t as comfortable on two wheels due to age, accessibility, or other reasons. And so if you’re a senior or otherwise on the hunt for a fun and affordable electric trike, the Lectric XP Trike2 is probably the one you’re going to end up getting, and deservingly so!

If you don’t know Lectric eBikes, they’re the Phoenix-based e-bike company that took the US by storm in the early 2020s, quickly growing into the #1 best-selling e-bike company on the continent. They started with the ultra affordable, high-value XP line of e-bikes, and then took that same recipe to other types of e-bikes, from cargo bikes to off-roaders, and now to trikes.

The new XP Trike2 is the latest generation of their best-selling e-trike, and it’s absolutely better than ever.

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First of all though, let’s look at what stayed the same. The ultra-affordable price of $1,499 remains untouched, keeping this not only one of the best e-trikes on the market, but also the most affordable. It also keeps the low step-over height for easy mounts and dismounts, the folding frame to help riders transport it more easily, and the powerful motor that makes it a great hill climber.

Other than those features, basically everything else has received an upgrade.

First of all, we now get included suspension with a 50mm suspension fork up front. The frame has been redesigned with a new hydroformed aluminum downtube and a more stable footprint. The stem angle has been modified to make it more comfortable and allow a more upright, relaxed riding posture. A more powerful and longer-range version of the Trike2 is also available, upgrading the motor with 50% more power for even better hill climbing, as well as including a torque sensor for more responsive pedaling and a longer-range battery.

The included TFT color screen is a major upgrade over the older model, and there are even six new colors to choose from, which is a major improvement over the original XP Trike’s color option list of… one.

Base model versus the long-range upgrade

Both the base model (Lectric XP Trike2 500) and the higher-spec option (XP Trike2 750) are compelling options, but they’ll likely serve different types of riders.

Even the base model comes with a reasonably large 13 Ah (624 Wh) battery, which is already going to give most riders at least 30 miles of range (or a claimed 50 miles if using low power pedal assist and riding slower). Plus, the 500W motor is actually much more powerful, likely peaking at closer to 1,000W of actual power. That’s the “oomph” that riders will feel when climbing hills. And for many folks, that’s plenty. Plus, the $1,499 price of the XP Trike2 500 is quite attractive.

But riders who want to upgrade to the XP Trike2 750, the higher price of $1,799 does come with some nice upgrades. First of all, the higher power 750W motor will be that much better at climbing hills, helping riders up steeper inclines, or just maintaining higher speeds up the same slopes. Next, the larger 17.5 Ah (840 Wh) battery is going to give more range, to the tune of nearly 50 miles with mixed riding (or the claimed 70 miles if using lower power pedal assist and staying off the throttle). The other benefit of a bigger battery is that it simply doesn’t need to be charged as often. Even if you’re riding around at 10 mph for an hour each day, that’s a week of riding before you have to think about recharging the battery.

The last significant upgrade on the 750W model is a torque sensor, which is a more refined pedal assist sensor that results in a more natural feeling ride when pedaling. For riders who only use the throttle, there’s not much benefit to a torque sensor. But for anyone who actually wants to pedal along and get a bit of fitness in, the torque sensor means the acceleration and the riding just better mimic the natural feel of bicycle pedaling, making it more like real pedaling – albeit if you had the legs and muscle definition of a professional cyclist.

All of this is to say: The base model with 500W of power is likely sufficient for most riders, but that extra $300 does offer better hill climbing, more power, longer range, and a nicer pedaling experience – which may be important for some riders.

Lectric may have announced the XP Trike2 today, but they aren’t quite ready to ship. In something of a throwback to Lectric’s early days, the bikes are available on pre-order. Orders placed now get priority, with the 500W model shipping later this month (July 2025). The 750W models will take a bit longer, with current orders expected to ship by September.

It’s a bit of a delayed gratification situation, but if the XP Trike2 is anything like the original (and it looks to be even better), then these bikes are absolutely going to be worth the wait!

Electrek’s Take

Once again, Lectric has left all the other e-bike makers fighting over second place. My hat is off to the company – time and again they have surprised us with increasingly better e-bike generations at increasingly the same price. Each time they roll out a bike, they give us more and more, all without touching the price tag.

The XP Trike2 follows that strategy perfectly, though it definitely looks like they’re hoping the XP Trike2 750 will bring slightly fatter margins – perhaps making up for just how ridiculously affordable the XP Trike2 500 is. And while I think the lower power model will be sufficient for most people, that bigger battery, beefier motor, and nicer torque sensor do sound like a tempting upgrade.

I haven’t ridden the XP Trike2 yet, but I will be on it soon and I can’t wait to share the experience with you guys. In the meantime, let’s hear what you think about the new e-trike in the comment section below!

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E-quipment highlight: Kubota mini excavator goes from diesel to EV and back

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E-quipment highlight: Kubota mini excavator goes from diesel to EV and back

Japanese equipment giant Kubota brought 22 new or updated machines to the 2025 bauma expo earlier this year, but tucked away in the corners was a new retrofit kit that can help existing customers decarbonize more quickly, and more affordably.

No matter how badly a fleet may want to electrify, harsh economic realities and the greater up-front costs typically associated with battery electric remain high hurdles to overcome, but new retrofit options from major manufacturers are popping up to help lower those obstacles.

The latest equipment maker to put its name on the retrofit list is Kubota, who says its kit can be installed by a trained dealer in a single day.

That’s right! By this time tomorrow, your diesel-powered Kubota KX019 or U27-4 excavator (shown) could be fitted with an 18 or 20 kWh li-ion battery pack and electric drive motors and ready to get to work in a low-noise or low-vibration work environment where emissions are a strict no-no. Think indoor precision demolition or historic archeological excavation.

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Then, if necessary, it can go right back to diesel power.

From diesel to electric and back again


U27-4e electric retrofit; via Kubota.

If that sounds familiar, that’s because we’ve talked about a similarly flexible power solution from ZQUIP. The battery packs and diesel engines are much larger in that application, but the basic sales pitch remains the same: electric when it benefits your operation, diesel it doesn’t.

Kubota says its modular retrofit kits is a response to the increasing global demand for sustainable alternatives by focusing on making machinery that’s flexible and repairable enough to be “reusable,” and offer construction fleet managers a longer operational lifespan, superior ROI (return on investment), and lower TCO (total cost of ownership) than the competition.

Kubota’s solution also notably reduces maintenance costs and operational overheads. With no engine and associated components, servicing time and expenses are considerably reduced, saving customers both time and money. Additionally, with electricity costing far less than fossil fuels, it offers a highly economical advantage.

KUBOTA

International Rental News reports that other changes to the excavators include a more modern cab controls with a digital instrument cluster, a 60 mm wider undercarriage for more stability, and an independent travel circuit allows operators to use the boom, dipper, bucket, and auxiliary functions without an impact on tracking performance.

Kubota’s new kit, first shown at last year’s Hillhead exhibition in the UK, will officially be on sale this summer – any day now, in fact – though pricing has yet to be announced.

Electrek’s Take


If you’re wondering how it is that we’re still talking about bauma 2025 a full quarter after the show wrapped up, then I haven’t done a good enough job of explaining how positively massive the show was. Check out this Quick Charge episode (above) then let us know what you think of Kubota’s modular power kits in the comments.

SOURCE | IMAGES: Kubota, via International Rental News.


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Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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