We’ve just been through (or maybe are still going through) an pandemic, which was started by a single infected person and spread worldwide. The tipping point, as identified by author Malcolm Gladwell, is that “magic moment when an idea, trend, or social behavior” (or disease) passes from being an isolated phenomenon to reach a critical mass and spreads “like wildfire.”
Our premise here: this is where we’re at with electric vehicle adoption. It’s clearly started, but is at a limited threshold of acceptance — stronger in areas like China, Norway, and California, but barely noticed elsewhere or in many broader markets. We’ll focus on the U.S. market, where we believe this tipping point is about to take hold.
“That is the paradox of the epidemic: that in order to create one contagious movement, you often have to create many small movements first.” — Gladwell, The Tipping Point.
Modern electric vehicles have only been around in volume production for a little more than a decade, ushered in by the first-generation Nissan Leaf and Chevrolet’s plug-in hybrid Volt. The market during the intervening years has grown steadily, but took a solid jump in the U.S. and around the world with the introduction of the “affordable” Tesla Model 3. EV sales represent around 2% of the overall American market and almost five times that in California.
Choice Explodes & the Market Will Follow
This story is from the Fall 2021 edition of Innovation & Tech Today.
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This story is from the Fall 2021 edition of Innovation & Tech Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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