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Hyundai Motor Co. Ioniq 5 N electric vehicle (EV) bound for shipment at a port near the company's Ulsan plant in Ulsan, South Korea, on Tuesday, Jan. 23, 2024. Hyundai Motor Co. is the world's third-largest carmaker. Photographer: SeongJoon Cho/Bloomberg via Getty Images

EV sales soar to record heights in 2024: What’s behind the gains?

Electric vehicle (EV) sales in the U.S. reached an all-time high in 2024, with 1.3 million units sold, according to Cox Automotive's Kelley Blue Book. This marked a 7.3% increase from 2023, even as the pace of growth slowed compared to previous years. EVs now account for 8.1% of ...read more