US overtakes this country to become the world's second largest EV market: Report

The United States has seen a major spurt in sales of electric vehicles (EVs) and is now the second-largest market for zero-emission vehicles, behind China. The US EV market is booming and while home-grown giants like Tesla, GM and Ford are spearheading the move, a number of global brands are also looking to a delicious chunk of the pie.

A report by Hong-Kong based Counterpoint Research highlighted that EV sales in the US climbed by 79 per cent in Q1 of the year, helping it to overtake Germany. The European country had long held on to its second spot but finally conceded the place to the US which is also the second largest vehicle market in the world.

A large chunk of the rise in sales of clean vehicles in the US came from fully-electric models even though plug-in hybrids are also enjoying some degree of strong momentum. For context, 81 per cent of all electric car sales came from fully-electric models. What is not known though is the precise number of such vehicles sold in the country.

Tesla remains the global leader and has a massive lead over all its rivals in the US as well. Tesla Model Y is the best-selling electric car in the country while the more affordable Model 3 continues to do well. The likes of GM, Ford, Hyundai and Kia are also seeking to create in roads.

But while a long list of model offerings help customer sentiments, there are also encouraging policies that further bolster prospects. Tax credits for EVs being manufactured or assembled in North America is one such move that has helped incentivise purchases.