Since their inception, the biggest concern facing the adoption of electric vehicles (EVs) has been range capability. To this point, range has been the first drawback on everyone’s mind when it comes to EVs, from early adopters making due with the sub-100 mile ranges of the first available EVs to manufacturers downplaying the anxiety and racing to increase battery capacity.
However, things are changing. Nearly 20 EVs on the market or available soon will boast ranges of 200 miles or more. While that’s still short of the average gas- or diesel-powered vehicle and such range anxiety won’t just disappear, it’s part of the reason EV-curious shoppers are looking past range to other concerns, like time spent at the charging station.
In fact, consumer focus on fast charging has outpaced concerns over public charger availability, with Time Anxiety™ registering twice as important for an improved EV charging experience as the proximity of a charger to the driver’s route.
Those are some of our latest findings at Escalent thanks to a recent EVForward™ DeepDive, which explored the considerations of EV shoppers across the broad adoption spectrum, from early adopters to those most wary and skeptical of the technology. And, it makes sense: an EV with comparable range to a traditional gas-powered vehicle that also requires a lengthy amount of time to refuel—several times longer than a stop at the gas pump—presents many of the same practicality concerns for shoppers as a vehicle with limited range in the first place.
So, while industry players—including manufacturers, regulators and utility companies, among others—are touting new partnerships and rapidly expanding charger networks, they’re not making the dent into the consideration barrier they want to make. Critically, they need to offer expansive charger networks that prioritize fast charging capabilities. Direct current (DC) fast charging is no longer a “nice-to-have” amenity, it’s a critical deal breaker for many consumers. Ultimately, shortening the time spent charging at a station effectively extends the range of the vehicle—at least, in the eyes of those shelling out their hard earned money on a new vehicle.
To learn more about the findings from the latest EVForward™ DeepDive market report, join our team for an informational webinar on Thursday, Oct. 29, 2020 from 2:00 pm to 2:30 pm ET. We will dive into Time Anxiety and several other topics, including the importance of home charging support and the impact of manufacturer warranties for EVs on adoption.
Register now for the webinar by clicking the button below.