Why Electric Vehicle Adoption Is About To Go Through The Roof
Where Is Electric Vehicle (EV) Adoption Now?
Globally in 2017, EV sales totaled to 1,223,600 units according to EV-Volumes. This places EV market share at 1.3% of total sales. So far in 2018, market share is sitting around 1.9%. Obviously in the grand scheme of things, EV market share is still small, though improving.
Impediments To EV Adoption
The first thing we’re going to take a look at is what is holding EV adoption from being higher. It’s obviously a multitude of factors that contribute, but surveys (Appendix A) consistently show three reasons as being dominant to holding EV adoption back:
- High sticker price compared to conventional vehicles
- Range anxiety; due to a mixture of low vehicle ranges and lack of charging infrastructure
- Misconceptions and lack of widespread information
It is my own opinion that the first two issues are greater in perception than reality (see reason #3); higher sticker prices are largely offset by lower running costs that people often fail to fully consider, and most people don’t realize how much charging infrastructure exists or how little they typically drive until you own an EV. The third reason can be most…
