According to reports, more than half of new cars in the US will be electric by 2030 (2024)

Electric vehicleswill account for more than half of all new cars sold in the United States by 2030, experts predict.

Although President Joe Biden has yet to take steps to force states to ban sales of internal combustion vehicles, analysts say stimulus measures like the newtax deduction for electric car buyerswill help the market explode in the coming years.

A new reportdoorBloombergNEFIt is estimated that electric car sales are on track to represent 43 percent of new car purchases by 2030, likely due to the greater availability of choices in the new electric market and increased consumer acceptance of electric cars.

But those estimates were revised after the US government passed the Inflation Reduction Act in August this year, raising the 2030 forecast to 52 percent. That figure is more than a previous Biden promisehalf of all carsBy the end of the decade it should be electric cars, plug-in hybrids or fuel cell cars.

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BloombergNEFAnalysts conceded that electric car sales may not rise dramatically in coming years, partly because the new tax credit rules mean the full $7,500 subsidy will only be open to vehiclesbuilt in North America, and there are also restrictions on where the batteries come from. But many automakers are expected to step up to meet these challenges, which will increase the number of cars eligible for financial support, making electric cars more affordable.

The number of electrified vehicles in America is then expected to grow dramatically as we approach the middle of the next decade, with the help of legislation banning internal combustion engine vehicles in many states. California has already passed a law requiring all new carssold there in 2035generates no tailpipe emissions, and many other states are expected to follow California's lead.