Electric vehicles built in U.S. factories are dominating the domestic EV market, according to new-vehicle registration data from Experian, and the trend is likely to accelerate, given new tax incentives for EV and battery production in North America.
U.S.-made EVs accounted for about 75 percent of new-vehicle registrations in the first 11 months of last year, Experian data shows, and U.S.-based automakers were responsible for nearly all of the local production. The biggest exception was Nissan, with its Tennessee-built Leaf holding a 1.7 percent EV market share.
The trend, driven by Tesla, General Motors and EV startups such as Rivian, is good news for U.S. manufacturers and supply chains as the global auto market goes electric over the coming decade, analysts say. The Inflation Reduction Act, signed into law last year, ended the $7,500 EV credit for vehicles made outside of North America.