Sales of all-electric vehicles and hybrid models reached 20% of new car and truck sales in the U.S. for the first time last year — marking a landmark year for “green” vehicles but coming at a slower pace than many had previously anticipated.

Electric vehicle (EV) sales in the U.S. reached an all-time high in 2024, with 1.3 million units sold, according to Cox Automotive's Kelley Blue Book. This marked a 7.3% increase from 2023, even as the pace of growth slowed compared to previous years. EVs now account for 8.1% of the U.S. auto market, up from 7.8% the year prior.

Americans are still warming up to electric vehicles, and the adoption rate isn't near what industry experts predicted. Still, toward the end of last year, Cox Automotive reported the largest increase in sales of any quarter.

General Motors has signed a multi-year, multi-billion dollar agreement for Norway's Vianode to provide the U.S. automaker with synthetic graphite anode materials for its electric vehicle batteries, the companies said on Wednesday.