Sales of EVS in Australia doubled over the last 12 months... but the country is still lagging when it comes to EV adoption.
👉 Background: Electric vehicles are a key component in reducing carbon emissions globally. In fact, studies have found that emissions from EVs have emissions up to 43% lower than diesel vehicles.
👉 What happened: The good news is that the sale of EVs including fully electric and hybrid vehicles doubled over the last 12 months in Australia. We're talking a jump from around 8% of all vehicles to now 16.6%.
👉 What else: But here's the thing, Australia is lagging when it comes to EV adoption. The government needs to step up the game to increase EV adoption rates and meet the 2030 target.
💡We are witnessing the market adoption lifecycle in real-time. The adoption lifecycle is the model that describes the adoption or acceptance of a new product.
💡 The model says that the first group of people to use a new product are the innovators and early adopters. It then progresses to the early majority, then the late majority, and finally... the laggards.
💡Right now, Australia's adoption of EVs is still probably in the early adopters phase. But, for EV's to become mainstream and reach the later stages of the lifecycle, a significant push is needed.
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