The US Electric Car Market size is estimated at USD 92.86 billion in 2024, and is expected to reach USD 211.32 billion by 2029, growing at a CAGR of 17.88% during the forecast period (2024-2029).
The United States Electric Car Market is fragmented, with the top five companies occupying 23.27%. The major players in this market are AB Volvo, Chevrolet, Ford Motor Company, Hyundai Motor Company and Toyota Motor Corporation
In February 2023, Hyundai Motor America announced pricing, packaging, and 53 kWh battery pack options for its highly anticipated IONIQ 6 electric vehicle. Customers can choose from two battery pack options of 53kWh or 77.4kWh and his two motor configurations of the rear motor only or both front and rear motors for all-wheel drive.
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