Adoption rates for electric cars have moved past 5 percent in the US, Europe, and China, meaning EVs are no longer considered niche in these countries.
This is according to an article from Bloomberg, which reports that the US, following 18 other countries, including New Zealand, has move past the 5 percent sales threshold.
According to Bloomberg, which analysed 19 countries that have made the pivot to EVs, once 5 percent of new-car sales go fully electric, everything changes.
New technology sales typically follow an S-shaped adoption curve. Sales move very slowly in the early-adopter phase, then spike surprisingly quickly once the tech goes mainstream. Sales then slow down again at the top of the S-curve, representing those who are still holding onto their then-outdated technology.
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It's like when smartphone technology first came out. When you first held a smartphone device, it was cutting-edge technology. But now, every Tom, Dick, and Harry has their hands on one.
The same "society-altering shift" is now happening with electric cars. According to Bloomberg, 5 percent seems to be the point when early adopters are overtaken by mainstream demand.
Because more than 5 percent of Kiwis are now driving electric cars, we're beginning to see the start of mass EV adoption. This means, that if you buy an electric car now, you're no longer considered an early adopter.
The US is the latest country to surpass the 5 percent threshold, joining New Zealand and 17 other countries. According to Bloomberg, "if the US follows the trend established by 18 countries that came before it, a quarter of new car sales could be electric by the end of 2025".
New Zealand, Bloomberg says, passed the 5 percent mark in Q3 2021.
But, while it does appear we are inching closer to mass adoption, it could still be a while before we see more EVs on the roads than we do ICE cars.
This is because Kiwis tend own their cars for longer periods on time, with the average length of ownership in 2020 being 14.3 years.
For 2022 so far, 5.71% of new car registrations are pure-electric vehicles, and 4.48% are plug-in hybrids. With incentives like the government's Clean Car Discount making electric cars more accessible to everyday Kiwis, these numbers are sure to continue rising.
Some Kiwis are also scrambling to find greener options as a way to ease the pressure at the pump, as fuel prices continue to skyrocket.