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The federal Energy Information Administration is out with a new report on electric vehicles and how much the market might grow. The chart below shows EIA's forecast of how much, or how little, of the global auto market that EVs will grab in coming decades.

Expand chart
Data: U.S. Energy Information Administration; Chart: Lazaro Gamio / Axios

Possible futures: Compared to EIA's base or "reference" case, the "low" penetration case envisions a market in which consumers are willing to pay the upfront costs, which in turn means less charging infrastructure built and fewer vehicle models available, which leads to slower adoption. They also explore a "high" EV penetration case with a self-reinforcing cycle that moves in the other direction — higher consumer willingness to pay means more sales that in turn lead to more charging networks and a greater blossoming of vehicle choices, leading EVs to grow to 26% of the light-duty vehicles on the roads in 2040.

Go deeper:

  • ICYMI: My Axios colleague Amy Harder explored another aspect of the report here, looking at why EVs currently account for a much bigger percentage of vehicle sales in Norway than elsewhere.
  • Tesla's China push: "Tesla is moving closer to becoming the first foreign car company to have a wholly owned manufacturing operation in China, a deal that would test the relationship norms between a foreign automaker and the Chinese government," the New York Times reports.

Go deeper

38 mins ago - Technology

Facebook changes corporate name to Meta

Screen shot of CEO Mark Zuckerberg at the company's "Connect" virtual event

CEO Mark Zuckerberg on Thursday said the social media giant is renaming its company Meta.

Why it matters: The effort is meant to shift its image from a social media platform to a “metaverse” company that focuses on building virtual work and social communities.

Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

Filings show Sweetgreen isn't profitable, despite claims

Illustration: Sarah Grillo/Axios

Restaurant chain Sweetgreen on Monday filed to go public, and revealed that it lost money in each year since 2014.

Why it matters: The company lied when it repeatedly told reporters it was profitable.

U.S. border cities again see low violent crime rates

Expand chart
Data: FBI, Kansas Bureau of Investigation, U.S. Census Bureau; Chart: Jared Whalen/Axios

Reported violent crime in the United States rose in 2020 for the first time in four years, but violent crime rates in 11 of the largest communities along the U.S.-Mexico border stayed below the national average, an Axios analysis found. 

Why it matters: Year after year, data showing low violent crime rates in majority-Mexican American and Mexican immigrant border communities dispels myths of the U.S.-Mexico border as a region filled with crime and chaos.