So for many EVs in many places of the world, but for sure in North America, there is already a larger demand than supply for EVs. They cannot make them fast enough, dealers are adding 5 K mark ups often.

Many models have month long waiting lists, some are close to a year.

Now that gas prices are rising more than ever (over 2$/litre in Montreal and Vancouver Canada from posts I've seen) people will only continue to want to make the switch, but the supply issues are the same as they were a month ago.

In the scope of electrifying transport, this immense demand will only help speed up the transition, but it won't help lower prices in the short term at all.

Car companies really have to continue to invest in their EV lines, probably by more than they currently think they need to or should, as whatever they make will absolutely sell, and governments / electricity suppliers have to increase the charging network across all major cities by a lot. I read Biden recently made a multi billion dollar deal / plan for charging infrastructure, really all major countries need to get on this type of thing fast.

All in all, I think more than half of the cars on the road in first world countries will be electric in 5 years, as long as car makers can actually produce enough to feed that demand. I thought it was more 5-10 years a few months ago, now I think it's closer to 5 years to be over 50%.

Thoughts?

Edit: A lot of people bring up good points as to why 50% on the road in 5 yrs is too quick. Maybe 50% new vehicles sold will be EV in 5yrs. Maybe 50% EVs on the road in first world countries will be closer to 10 years. We will have to see. My hunch is still that it will be quicker than the majority thinks it will be.