Gas prices continue to test record highs, surpassing $4 per gallon in the US and $2 per liter across Canada for the first time, which is fueling rampant demand for electric vehicles across North America. For perspective, sales of plug-in electric vehicles in the US increased nearly 60% year-over-year in the first quarter of 2022, compared to the broader automotive market which slowed down by approximately 18% year-over-year due to supply chain constraints. It is highly likely that the passenger vehicle market will shift almost entirely to electric vehicles over the next few decades as carmakers set lofty ...
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Outrageous Gas Prices Fuel Demand for Electric Vehicles