Convincing everyone to adopt a new technology can be difficult at first. The humble microwave oven, for example, took two decades of lukewarm sales to reach just a tenth of U.S. households. But then came the 1980s, and microwaves had spread to nearly every kitchen.
That fast part of the technology adoption curve is happening now with electric vehicles, according to a Bloomberg Green analysis of adoption rates around the world.
When this analysis was first completed a year ago, 19 countries had passed what has become a critical EV tipping point: 5 percent of new car sales powered only by electricity.
This threshold signals the start of mass adoption, when technological preferences rapidly flip. Since then, five more countries have made the leap.
The newcomers — Canada, Australia, Spain, Thailand and Hungary — join a cohort that also includes the U.S., China and most of Western Europe.
The trajectory laid out by these early adopters shows how EVs can surge from 5 percent to 25 percent of new cars in just four years.