EV Adoption Growing But Needs Infusion of Government Aid, EV Executives Say

Tech improvements are shrinking EV costs but subsidies and support for charging stations are needed to boost adoption in the West, industry executives say.

A Volkswagen ID.4 electric vehicle charges at a shopping mall parking lot in Torrance, California, on Feb. 23, 2024. Photo by Patrick T. Fallon / AFP via Getty Images

In five years, the electric vehicle (EV) industry would like to see 40 percent of the world’s drivers piloting EVs.

However, despite tech improvements to lower costs and help EVs drive further, government help—subsidies, boosted infrastructure, and better consumer education—is needed to meet that goal, industry executives said last week at the world’s largest electronics trade show.