The global EV story and the American EV story have decoupled. The IEA’s Global EV Outlook 2026 shows worldwide electric car sales climbing toward roughly a third of all new vehicle sales this year, while the US is described bluntly as falling behind the global boom. The US-specific shock. Last July’s One Big Beautiful Bill Act eliminated penalties for automakers missing fuel efficiency standards, removing a key incentive to sell EVs, and terminated federal tax credits for new and used EV purchases after September 2025.