Consumers have made the switch to electric vehicles
"The performance envelope and the drivability of an electric vehicle makes it so much more desirable than an alternative," he said. "Buying a non-EV just feels very old. Aside from carbon emissions and environmental responsibility, it's just not interesting."
Scaringe also sees a change in the way manufacturers have responded to electric vehicles.
"Up until not too long ago, electrification was sort of a thing you had to do to generate some credits and to look responsible as a company, but they weren't really committed to it," he said. "Now, most big vehicle manufacturers have begun to really lean into their electrification strategies."
Looking ahead, Scaringe said that he believes "policy is going to ping-pong around a little bit, unfortunately."
"Electrification and sustainability have become politicized — it makes no sense at all that it has been, but unfortunately it is," he said, "So as a result of that, you will see a little bit of variation there.*But I don't think, at a macro level, [the trend] is going to change."*
"The slope of the curve is going to continue to be policy that drives toward electrification, policy that drives toward moving off of fossil fuels," Scaringe added. "I think*consumers have made the switch and it's a diode-like switch — it's one directional."