How much is the US electric vehicle market expected to grow to in 2028?

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America, the nation with the highest GDP, has a rapidly expanding electrical vehicle (EV) market.

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America is the third-largest producer of electric automobiles in the world.

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To speed up the development, production, and switch to electric vehicles, America is moving quickly.

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The manufacture of electric vehicles (EVs) decreased worldwide, including in America, as a result of the Covid-19 pandemic.

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However, America is currently making a quick recovery from the catastrophic economic condition brought on by COVID-19.

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Do you know how big the American market for electric vehicles is expected to be in 2028?

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The US electric vehicle market was estimated to be worth 24 billion dollars in 2020.

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According to a Fortune Business Insights analysis, from 2021 to 2028, the market for electric vehicles would expand at a CAGR of 25.4%.

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And from $28.25 billion in 2021, the size of the electric car industry will increase to $137.44 billion in 2028.

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In the US, the development and production of electric vehicles are increasingly being led by Elon Musk's Tesla.

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