A new report reveals the accelerated uptake of electric vehicles across North America.

According to the analysis, sales of electric vehicles, hybrids, and plug-in hybrids in the U.S. have reached an all-time high.

The findings, published by Kelley Blue Book, show that while sales of new petrol- and diesel-powered vehicles decreased 13.4% this year, primarily due to low supply and high demand, sales of electric vehicles skyrocketed by nearly 60%.

Since July, the report observes, automobile manufacturers across the U.S. have sold in excess of one million new electric vehicles, accounting for 10.4% of total vehicle sales – more than double the market share last year.

Earlier this week, the electric car manufacturer Tesla became one of only several companies to exceed a valuation of $1 trillion following a deal Hertz worth $4.2 billion.

“The exponential growth of electrified vehicle sales in the U.S. is a combined result of more product availability and wider consumer acceptance,” said Matt DeLorenzo, Senior Managing Editor for Kelley Blue Book.

“We are seeing the investments in this technology beginning to pay off with greater growth in EV volume. This pace will continue to increase as consumers find more choices in both pure electric and plug-in hybrid vehicles.

“Even as the auto industry faces challenges in chip shortages, limited production and inventories, and higher prices, the growing demand for electric vehicles is a significant development.”