Introduction

The electric vehicle market reached a significant milestone as BYD overtook Tesla as the world's top EV seller for the first time, with BYD reporting 2.26 million battery-powered vehicle sales in 2025 representing a 28 percent increase, while Tesla deliveries dropped 8 percent year-over-year to 1.64 million vehicles. Despite this growth in China, analysts describe 2026 as an EV Winter as global sales growth slows to a projected 12 percent increase compared to 23 percent growth in 2025, with BloombergNEF forecasting 24.3 million passenger EV sales this year. Battery technology improvements are driving 2026 model year vehicles to comfortably exceed 300 miles of range on average, with premium models pushing beyond 400 miles as lithium-ion battery prices fall to $108 per kilowatt-hour at the pack level. Workplace charging infrastructure saw unique drivers surge 57 percent year-over-year while active charging ports increased just 22 percent, indicating strong utilization growth as charging becomes one of the most requested amenities in office settings according to CBRE. Pennsylvania opened the first NEVI-funded EV charging stations on the Pennsylvania Turnpike at Blue Mountain Service Plaza and New Stanton, while New York City announced plans to build its largest public charging station near JFK with 65 chargers at launch. At Shaffer Construction, Inc., we help Los Angeles property owners implement workplace and commercial charging infrastructure that serves growing EV populations through expert commercial EV charger installations and residential charging solutions. Here are this week's most significant developments.

BYD Overtakes Tesla as World's Top Electric Vehicle Seller

BYD announced on Thursday that sales of its battery-powered cars rose nearly 28 percent to 2.26 million units in 2025, while vehicle deliveries at Tesla dropped 8 percent year-over-year to 1.64 million vehicles delivered in 2025. This marks the first time BYD has overtaken Tesla as the world's top EV seller, representing a significant shift in global electric vehicle market leadership. BYD's growth reflects the company's strong position in China, the world's largest EV market, along with expanding international presence in Europe, Southeast Asia, and Latin America. Source: CNBC.

Tesla's sales decline can be attributed to multiple factors including aging vehicle lineup with the Model 3 and Model Y representing the majority of sales, increased competition from both established automakers and new EV manufacturers, and potential brand perception challenges. U.S. EV sales peaked in September ahead of federal incentives ending at 10.3 percent of the new vehicle market, while demand plummeted to preliminary estimates of 5.2 percent during the fourth quarter according to industry data. Source: Bloomberg.

Global EV sales hit 18.5 million units in the first 11 months of 2025 according to EV market research firm Rho Motion, up 21 percent year-over-year, with overall EV demand remaining resilient supported by expanding model ranges and sustained policy incentives worldwide. However, North American EV sales in 2025 were down 1 percent to 1.7 million units as of November 30, highlighting significant regional variations in market performance. Source: EV Volumes.

For Los Angeles property owners, the changing competitive landscape and expanding model availability reinforce that the EV market continues maturing with diverse vehicle options across all price points and segments. As we discussed in our coverage of affordable EVs like the Rivian R2 and Chevrolet Bolt, more vehicle choices at various price points expand the addressable EV driver population requiring charging infrastructure.

Industry Enters EV Winter with 12 Percent Growth Forecast Versus 23 Percent in 2025

BloombergNEF expects drivers to buy 24.3 million passenger EVs in 2026, an increase of only 12 percent compared to 2025 and weaker than the 23 percent growth in sales during the previous year. This slowdown has led analysts to describe 2026 as an EV Winter as China winds down some subsidies, Europe wavers on its phase-out of combustion engines, and U.S. producers and policymakers make a U-turn from the segment. The moderation in growth reflects market maturation, reduced government incentives in key markets, and consumers adjusting to new vehicle pricing without subsidies. Source: Bloomberg.

Cox Automotive forecasts total new vehicle sales at 15.8 million for 2026, down from 2025 levels as market fragmentation slows growth. The electric vehicles market enters its next chapter in 2026 without government incentives in the United States and with off-lease EV models flooding the used market. Gartner forecasts that plug-in hybrid electric vehicle sales will rise by 32 percent in 2026 as consumers show increased interest in vehicles that combine electric driving capability with gasoline range extension, providing a middle ground for buyers not yet ready to commit to fully electric vehicles. Source: Nasdaq.

Despite the slowdown characterization, 12 percent annual growth in a maturing automotive segment represents substantial continued expansion. The global EV fleet will add approximately 2.6 million additional vehicles in 2026 based on BloombergNEF projections, all of which require charging infrastructure. Market growth is shifting from early adopter phase driven primarily by government incentives to mainstream adoption phase driven by vehicle economics, technology improvements, and expanding model availability. Source: CNBC.

For Los Angeles commercial property owners considering workplace charging investments, the shift from explosive growth to steady expansion actually strengthens the investment case. As we noted in our analysis of industry forecasts projecting 27.5 percent global EV market share in 2026, the transition from niche to mainstream means broader demographic representation among EV drivers and more stable long-term demand for charging infrastructure.

2026 Model Year Vehicles Exceed 300 Miles of Range on Average

In 2026, the average electric car comfortably exceeds 300 miles of range, and premium models can push well beyond 400 miles. Many electric car models see significant range increases for the 2026 model year including the Lucid Gravity with 450 miles, the Rivian R1S with 410 miles, and the Mercedes-Benz EQS SUV with 390 miles of range. The updated Hyundai Ioniq 5 offers a significant addition in range up to 310 miles on a charge, and the BMW iX3 hopes to bring drivers up to 400 miles of range thanks to its 109-kilowatt-hour battery pack. Source: GreenCars.

Technology improvements driving these range increases include larger battery packs with higher energy density, improved thermal management systems, and more efficient powertrains. Toyota's bZ all-electric SUV adds a larger lithium-ion battery with a higher total capacity of up to 74.7 kilowatt-hours equipped on a newly available XLE Front-Wheel-Drive Plus model, with models equipped with the new battery projected to have a manufacturer-estimated rating of up to 314 miles of range on a full charge. A new battery pre-conditioning function is equipped on all models designed to bring the battery to an optimal temperature for DC fast charging, which can enable faster charging in colder climates. Source: Toyota USA Newsroom.

Lithium-ion battery prices have fallen to $108 per kilowatt-hour at the pack level or $74 per kilowatt-hour at the cell level, continuing the downward trend that makes EVs increasingly cost-competitive with gasoline vehicles. Battery prices are forecast to drop further in 2026, set to make EVs more attractive by the end of the year. Engineers are refining solid-state prototypes promising greater energy density and improved thermal stability, with firms such as QuantumScape and Toyota forecasting market readiness soon. Source: AutoEvolution.

For Los Angeles drivers, 300-plus miles of range addresses one of the primary concerns about EV adoption by providing sufficient range for daily driving with margin for unexpected detours or missed charging sessions. However, as we covered in our discussion of BYD's megawatt charging and solid-state battery developments, charging speed continues improving alongside range, making convenient charging access at home and work increasingly important as the defining factor in EV ownership experience.

Workplace Charging Sees 57 Percent Increase in Unique Drivers as Utilization Surges

In 2023, workplace charging sessions grew twice as fast as new installations, with active workplace EV charging ports increasing 22 percent year-over-year while unique drivers surged 57 percent. This dramatic difference between infrastructure growth and user growth indicates strong utilization improvements as existing charging infrastructure serves more drivers, demonstrating healthy return on investment for properties that have installed workplace charging. Charging has become one of the most requested amenities in both office and multifamily settings according to CBRE, reflecting the importance employees and tenants place on convenient charging access. Source: Alternative Fuels Data Center.

A 2024 FLO survey found that 42 percent of EV drivers valued workplace charging availability as a key factor in job satisfaction, demonstrating that charging amenities contribute to employee retention and recruitment. Properties with EV infrastructure often see 10 to 20 percent higher valuations and faster leasing cycles, providing tangible financial benefits beyond the direct charging revenue or employee satisfaction improvements. Industry benchmarks suggest one charger per 10 to 15 parking spaces for workplaces, with actual requirements varying based on employee EV adoption rates and charging behavior patterns. Source: Qmerit.

Level 2 charging stations typically cost $3,000 to $7,000 per port including installation, with tax and utility credits potentially covering up to 30 percent of upfront costs. Budget estimates range from $3,500 to $15,000 per Level 2 charging port including equipment and installation depending on site conditions and electrical infrastructure requirements. As of December 2025, National Grid's Public and Workplace applications are being reviewed with additional details including estimated remaining budget to be published in January 2026. Charge Ready NY 2.0 offers rebates up to $4,000 per port for public facilities in disadvantaged communities and up to $2,000 per port for workplace properties. Source: AmpUp.

For Los Angeles commercial property owners, the 57 percent increase in workplace charging users demonstrates strong demand that justifies infrastructure investments. Shaffer Construction can assess your property's electrical capacity through comprehensive electrical load studies to determine how many charging ports can be supported within existing infrastructure or what upgrades are required. The federal charger installation tax credit available through June 30, 2026, provides 30 percent cost offset for installations completed before this deadline, creating clear financial incentive to move forward with projects immediately.

Pennsylvania Opens First NEVI-Funded Charging Stations While NYC Announces Largest Public Station

Pennsylvania recently opened the first of two federally-funded EV charging stations on the Pennsylvania Turnpike using NEVI program funds. The charging stations are located at Blue Mountain Service Plaza eastbound at milepost 201 between Interchanges 226 and 241 in Schuylkill County, and at New Stanton Travel Plaza westbound at milepost 75 between Interchanges 67 and 91 in Westmoreland County. Each location features four 150-kilowatt DC fast chargers capable of charging two vehicles simultaneously at each charger for a total of eight charging ports per location. Source: AASHTO Journal.

The Pennsylvania Turnpike Commission used nearly $1 million in federal NEVI funds along with $250,000 in matching state funds to construct the charging facilities. The installations represent progress in filling charging gaps along major highway corridors as required by the NEVI program's focus on Alternative Fuel Corridors. Both locations provide charging access for long-distance travelers along the heavily-trafficked Pennsylvania Turnpike connecting Philadelphia to Pittsburgh and points west. Source: WESA.

New York City announced plans to build its largest public EV charging station near JFK Airport with 65 chargers at launch, with groundbreaking expected in 2026. The facility will provide charging access for airport travelers, ride-share drivers, and local residents in Queens. The project represents the city's commitment to expanding public charging infrastructure to support growing EV adoption despite federal policy uncertainty. Source: Electrek.

For Los Angeles property owners, these public infrastructure projects demonstrate that despite federal funding uncertainty under the Trump administration's Executive Order, state and local governments continue investing in charging infrastructure. As we discussed in our coverage of the US DC fast-charging network surpassing 67,900 stalls, public charging infrastructure continues expanding at an average rate of 46.5 new stalls per day, creating a comprehensive network for long-distance travel that complements private workplace and residential charging serving daily needs.

What These Developments Mean for Los Angeles Property Owners

BYD overtaking Tesla as the world's top EV seller marks a significant milestone in global EV market maturation, while the shift from 23 percent to 12 percent annual growth reflects the transition from early adopter phase to mainstream adoption. Despite the EV Winter characterization, 12 percent growth represents approximately 2.6 million additional EVs globally in 2026, all requiring charging infrastructure. The 2026 model year vehicles exceeding 300 miles of average range addresses a primary barrier to adoption, making EVs viable for broader consumer segments.

Workplace charging utilization surging 57 percent while infrastructure grew just 22 percent demonstrates strong demand and healthy return on investment for properties that have installed charging capabilities. The 42 percent of EV drivers citing workplace charging as a key factor in job satisfaction, combined with 10 to 20 percent higher property valuations for buildings with EV infrastructure, provides compelling financial and competitive justification for investments. Pennsylvania's NEVI-funded turnpike stations and NYC's largest public charging facility demonstrate continued public infrastructure expansion despite federal policy uncertainty.

For Los Angeles commercial properties, the federal charger installation tax credit deadline of June 30, 2026, creates urgency to initiate projects that can capture 30 percent cost offset while positioning properties to serve growing workplace charging demand. Shaffer Construction can assess electrical capacity, recommend appropriate charging equipment and quantities based on expected utilization, and manage complete installations from permitting through final commissioning to ensure projects are completed before the incentive expires.

Conclusion

BYD overtook Tesla as the world's top EV seller with 2.26 million sales in 2025 compared to Tesla's 1.64 million, marking a significant shift in global market leadership. The EV industry enters an EV Winter with BloombergNEF forecasting 12 percent growth in 2026 compared to 23 percent in 2025, though this still represents 24.3 million passenger EV sales adding approximately 2.6 million vehicles to the global fleet. The 2026 model year brings average ranges comfortably exceeding 300 miles with premium models pushing beyond 400 miles as battery prices fall to $108 per kilowatt-hour. Workplace charging saw unique drivers surge 57 percent year-over-year while charging ports increased just 22 percent, with 42 percent of EV drivers citing workplace charging as a key factor in job satisfaction. Pennsylvania opened the first NEVI-funded charging stations on the Pennsylvania Turnpike while New York City announced plans for its largest public charging station near JFK with 65 chargers. For Los Angeles property owners, the June 30, 2026, federal charger installation tax credit deadline requires immediate action to capture available incentives while implementing workplace charging infrastructure serving growing employee and tenant demand.

Ready to explore workplace charging options for your Los Angeles property? Contact Shaffer Construction, Inc. for a complimentary site assessment and expert guidance on selecting the right charging solution for your needs before the June 30, 2026, federal tax credit deadline.

Shaffer Construction, Inc.
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