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Insight Issues and Opportunities for the Electric Vehicles Industry in 2023 February 27, 2023Electrification efforts of the US transportation sector are strong and growing. More than 800,000 fully electric vehicles (EVs) were sold in the United States in 2022, nearly 6% of all vehicles sold. Some of these key issues the EV market could face in 2023 are outlined below. For EVs, the IRA encourages investments through three different tax credits: new clean vehicle tax credits, used clean vehicle tax credits, and commercial clean vehicle tax credits. That is expected to change in 2024 when the IRS allows the vehicle tax credit to reduce the price of the car on the spot.