With several electric vehicles coming to the market by legacy and new auto makers soon, analysts at B. of A. Securities expect that a "tipping point" for EVs will happen this year, although higher prices would remain a constraint. The year 2022 "marks the start of commercialization for electric vehicles ... with many of start-up EV automakers launching/ramping new product and many of the incumbent automakers also beginning their product launch onslaught," the analysts said in a note Wednesday. B. of A. analysts said they expects about 1 million EVs sold in 2022, rising to about 1.8 million in 2023 and 3 million in 2024, implying EV penetration of around 6% this year, 11% in 2023, and 16% in 2024. Tesla Inc. /zigman2/quotes/203558040/composite TSLA +7.33% EV market share could fall to 19% by 2024, from 69% in 2021. Among "incumbent" auto makers in the U.S., Ford Motor Co. /zigman2/quotes/208911460/composite F +3.89% and General Motors Co. /zigman2/quotes/205226835/composite GM +3.07% "appear to be the biggest share gainers in the EV market," the analysts said, both increasing their share from mid-single digits to mid-double digits over the period. Moreover, 2022 will be characterized by the production ad sales ramp of Lucid Group Inc.'s /zigman2/quotes/221104327/composite LCID +4.98% Air sedan and Rivian Automotive Inc.'s /zigman2/quotes/230726939/composite RIVN +5.92% R1T pickup truck, R1S SUV, and the electric commercial van. It also could see the launch of Fisker Inc.'s /zigman2/quotes/209924856/composite FSR +4.17% Ocean SUV, Canoo Inc. /zigman2/quotes/211334934/composite GOEV +5.71% Lifestyle Vehicle, and Lordstown Motors Corp.'s /zigman2/quotes/211334938/composite RIDE +5.85% Endurance pickup, the analysts said.