However, that share will have to rise to 100% in fewer than nine years if the target to ban sales of new internal combustion engine vehicles by 2030 is to be met.
On the commercial vehicle side, more and more companies are committing to ambitious decarbonization targets, which means emissions from commercial vehicle fleets are coming under scrutiny.
In addition to these policies and target tailwinds, the economics of EVs continue to improve as the industry expands.
However, a raft of EV charging companies have gone public in the past 12 months, often via special purpose acquisition vehicles .
Many of these companies may be able to continue to do well in the short term as the EV charging sector continues to expand rapidly.
Investors who remember the evolution of the solar manufacturing industry over the last 10 years will be all too familiar with the idea that a market can grow rapidly while delivering poor returns to shareholders.