What Holds the EV Back From Its Big Break?3 min read
They are quiet, relatively inexpensive to run, and environmentally friendly. So, why aren’t there more people driving electric vehicles (EVs)? So, what’s holding back EV sales?
There are concerns regarding whether the worldwide conversion to EVs is occurring quickly enough and on an adequately large scale as the globe advances towards tighter emissions limits. Only 14% of drivers in the UK, up from 10% in 2021, said they would purchase an EV as their next vehicle. Yet, over that same time period, the percentage of drivers who anticipated purchasing an EV within the next five years fell from 17% to 15%.
What’s holding back EV sales
High Upfront Costs
While EVs may be cheaper to run than their diesel or petrol counterparts, they are considerably more expensive to buy. Despite countries having their own incentives, subsidies, and tax benefits for EV buyers, an electric vehicle is still more expensive than a conventional vehicle in every part of the world.
This could be a major factor hindering EV sales, especially during times of high inflation and increasing interest rates.
Limited Charging Infrastructure
A recent EY study revealed that inaccessibility to public EV chargers is the main obstacle to global EV adoption.
Home charging is an alternative for residents of homes with garages or parking spaces. However, those without on-site parking must rely on public or workplace charging stations, which are dispersed unevenly and can be expensive. A third of British drivers do not have charging stations at home, according to a poll conducted by the RAC.
Concerns about Range
As per the EY study mentioned above, nearly one-third of drivers worldwide are wary about making long trips in electric cars due to range anxiety. The range of an EV is mostly determined by how big its battery is and how good its motor is, but other factors, including the driving speed, weather, and whether you are in a city or on an open highway, can also play a role.
Although there have been improvements in EV ranges, they still fall well short of what is possible with a full tank of gas in a gasoline-powered vehicle.Also Read: Ban On EV Sales In Wyoming?
To sum up, high upfront costs, limited charging infrastructure, and range anxiety are a few possible answers to the question, ‘What’s holding back EV sales?
In order to overcome these barriers, governments, businesses, and consumers must work together to increase the availability, affordability, and utility of EVs for the general public, and thus accelerate the transition to a more sustainable future.
Join the EV Revolution
With future generations eagerly looking toward affordable and sustainable EV models, it is clear that the future is electric! If you’re a parking operator looking to upgrade your locations, offering EV charging as a value-added service is a great idea for future-proofing your business.
With GMP EV, you can offer value-added services like EV charging through a custom-branded parking app or web app! Here’s why you should choose GMP EV to transform your parking lot into a mobility hub:
- Discover charging stations easily using the app
- Go app-less with a QR-based solution
- Pay online just once for both parking and charging
- Manage your sessions on a centralized dashboard
- Get real-time reports on energy consumption
- OCPI-compliant solutions for greater flexibility
Get a demo today, or contact us at firstname.lastname@example.org to know more!