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US Electric Vehicle Sales Increased by 81% in 2018

U.S. electric vehicle sales may be finally seeing the hockey stick growth market watchers have been waiting for.

The 2018 numbers are in, and total U.S. EV sales came in at 361,307 for the year, up 81 % over 2017, according to the tracking website Inside EVs.

For Chris Nelder, manager of Rocky Mountain Institute’s mobility practice, the results came as a surprise.

“I did not expect the growth rate to be over 30 percent” for 2018, he said. “I expected it to be in the 20 percent range, which is where it’s been.”

“I did expect we would have a sharp increase in the rate adoption sometime soon,” he added. “But I didn’t think it would be in 2018.”

Rainbow Rare Earths Ltd (LON:RBW) is a mining company focussed on production from, and expansion of, the high grade Gakara Rare Earth Project in Burundi, East Africa. With in-situ grades in the range of 47-67% Total Rare Earth Oxide (TREO), Gakara is one of the world’s richest rare earth deposits.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.