Electric Cars Pass the Tipping PointBloomberg
March 28th, 2024 - by Tom Randall
EV tipping point: when 5% of new car sales are purely electric. This threshold signals the start of mass adoption, after which technological preferences rapidly flip. New technologies — from televisions to smartwatches — follow an S-shaped adoption curve. Sales move at a crawl during the early-adopter phase, before hooking into a wave of mainstream acceptance. The transition often hinges on overcoming initial barriers such as cost, a lack of infrastructure and consumer skepticism. The tipping point signals the flattening of these barriers.
Ref.:https://www.bloomberg.com/news/articles/2024-03-28/electric-cars-pass-adoption-tipping-point-in-31-countries?embedded-checkout=true