Sup. This is Plugged In. The newsletter that makes EV as fun as a weekend in Vegas. What happens here, stays here.

Here’s what we’ve got for you today:

• The EV Revolution in 5 Charts 📈

• Why Robotaxis Can Make Cities Safer 👷‍♂️

• EVs Could Soon Cost the Same as ICE Counterparts 📉

THE EV REVOLUTION IN 5 CHARTS 📈 

EVs are about to kick ICE into the history books.

Gas-guzzlers are ending faster than a college romance after graduation. This is the gist of a report from RMI called "X-change: Cars" or something.

1. EVs Are Basically Tech Stocks Now

Ever heard of an S-curve? No?

Well, it's not a yoga pose. It's how EV sales are growing.

Countries are going from like 1% to 10% market share in EVs in about six years. Another six years and they're hitting 80%.

At this rate, almost one in five cars sold in 2023 will be electric... which is double what it was two years ago.

2. Forecasters Are Lowballers

Every year, people crunch some numbers and tell us that EVs will take over the world "by this date" or "by that date."

Thing is... they’re underestimating it.

These predictions are always getting revised because things are moving faster than expected. The current guess is that 40% of cars will be electric by 2030.

3. Everything's Changing and It's Not Just Because of Laws

At the start, it was policies pushing for greener tech. But now? Economics and good ol' fashioned competition are main drivers for the rapid change.

Battery prices are set to halve by 2030, making EVs as affordable as your regular gas cars. China's also on it... And when China's on it, they'll bring a rocket launcher to a knife fight.

4. This Isn't Slowing Down

Based on how things are going, EV sales could grow 4x by 2030.

We're talking about electric cars making up to 86% of global car sales. It's like if everyone suddenly switched from regular coffee to cold brew. Cold brew supremacy. And this could happen as soon as 2026... which is like... soon.

5. Oil's Not Well

The need for gasoline is dropping faster than everyone’s dating standards. Gasoline demand peaked in 2019, and by mid-decade, it's all downhill for oil.

In about 15 years, a quarter of oil demand could vanish. And it's not only cars... bikes and trucks are going electric too. And when EV options are plenty, the oil industry might find itself getting ghosted.

We're in a turning point that's as significant as discovering fire. But less dangerous.

But hey, since we've figured some of this out doesn't mean you can sit back and binge-watch Netflix. There are still challenges to sort out, like how to go from "fast to faster."

And other challenges like, I don't even know who you are... so tell me what kind of reader you are by clicking below!

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WHY ROBOTAXIS CAN MAKE CITIES SAFER 👷‍♂️

Ah, robotaxis. Kind of like Ubers, but with 100% less human interaction... Which is either a win or loss depending on how your last few social engagements have gone.

So, there's this drama going down in San Francisco. Some folks are so against these self-driving taxis that they're putting traffic cones on them. It’s as if the city's become a real-world game of Mario Kart, except no one's having fun and the bananas are traffic cones.

But let's hit the brakes.

Before we start calling these robot cars the end of the world... some peeps over at the Manhattan Institute have come out saying "Hey, let's not set fire to the future yet." Seems reasonable.

Their argument?

Self-driving contraptions could be good for society. Stuff like less accidents. Lower fares. Making everyone on the road less miserable. And considering how humans have been doing behind the wheel... letting Skynet take a shot might not be the worst idea.

And it's not just the suit-and-tie crowd saying this.

Even old-school taxis and Ubers have helped cut down on things like drunk driving. So, if traditional ride-sharing can save lives, imagine what robotaxis could do. It's ride-share on smart-juice.

So you might be thinking, "Well, I heard robot cars crash too!" and well... you're right. But let's put that in perspective.

They crash less. A lot less. And when they do, it's typically a fender bender rather than a Michael Bay explosion.

Most of the time, it’s not even the robot’s fault; it's usually a human messing up. Sort've like how you blame your phone for a typo when we all know it was you mashing the keyboard.

Now the money part.

Having a robot behind the wheel could cut costs dramatically because, spoiler alert... robots don't ask for a paycheck or tips.

Now your stingy friend who never wants to split a cab might finally get onboard. A win for humanity. A loss for anyone who likes quiet rides.

So, here's the lowdown: Robotaxis aren’t going to solve world hunger or write the next great American novel. But they will make getting from Point A to Point B less of a life-threatening experience, and more of an "Oh, that was easy" experience.

So maybe, just maybe, let’s see how Act II plays out before we storm the stage, okay?

EVS COULD SOON COST THE SAME AS ICE COUNTERPARTS 📉

Grab your charging cables and buckle up. It's time to talk EV pricing.

Some peeps may consider electric cars to be the Apple products of the automotive world. Sleek. Futuristic. And sometimes requiring you to sell some organs to afford it.

But the shocker is that electric cars might soon cost the same as your dad's good ol' gas guzzler. Trusty rusty.

Why? First off, batteries.

If you've ever wondered why electric cars are so pricey, it's because of the batteries. You know, those big, heavy things that look like a crate of juice boxes from the future?

Well, the cost of those babies has been dropping faster than your Wi-Fi connection during a critical Zoom presentation.

To give you an idea, we've crossed this magic line where it costs $100 per kilowatt-hour to produce these electric juice boxes. That's nerd-speak for "Hey, electric cars might not require you to mortgage your house anymore."

So why's this happening?

It's like the perfect storm.

Governments are tossing subsidies like confetti. Businesses are trying to outdo each other like it's the last episode of "The Bachelor,". And the raw materials like lithium are getting cheaper.

Honestly, with lithium prices dropping 50% this year, it's like the Black Friday of battery production. Just without the fistfights over the last TV in the aisle.

Oh, and by the way, this is still good news for like… almost everyone. Lithium-ion batteries are also powering your smartphones, laptops, and that electric toothbrush that's been gathering dust since New Year's when you vowed to take dental hygiene seriously.

To cap it off, scientists recently found a massive lithium stash. Where? Well, let’s say Mother Nature decided to give us a key and a treasure map to find our battery powered future. The treasure is lithium. But the chest is an extinct volcano.

And so electric cars will soon transition from being that thing only Silicon Valley execs and environmentalists with trust funds drive... to something you'll see in your neighbor's driveway. Without wondering how many bitcoins they mined.

And with cheaper batteries maybe that electric toothbrush will finally make its way out of your drawer.

THE JUICE 🔋

UK ban on petrol and diesel car sales postponed to 2035 Prime Minister Sunak says “it’s not right to impose the cost on working people”

Beijing Instructs Chinese EV Makers to use only domestically produced electronic parts. Unofficial report.

The TakeOff Created for Silicon Valley founders, investors and professionals. The TakeOff analyzes emerging marketing trends, venture capital flow and actionable insights. It’s a free newsletter read by founders and professionals working at Google, a16z, OpenAI and more. Sign-up here to get ahead.

BYD announces it produced its 500,000th Yuan Plus EV Starting prices are now under $20,000 USD.

Tesla announces it produced its 5 millionth electric car It took Tesla 12 years to go from 0-1M. And since then, they’ve done 4M in 3 years.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.