A consumer research group surveyed electric vehicle (EV) owners around the world and found that 46 percent 70% of American EV owners regret their purchase and say they are “very likely” to go back to an internal combustion engine (ICE).
Globally, 29% of EV owners say they would switch back to an ICE, with the biggest concerns being the lack of reliable charging infrastructure, the cost of owning an EV, and fears about long-distance travel.
Philip Kampshoff, head of the consulting firm Center for Future Mobility, said: Said A reporter for Automotive News said he was surprised by the 49 percent figure in the U.S., calling it “unexpected. I thought, ‘Once you buy an EV, you buy an EV,'” he said.
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@domnatishow/ Auto Overload/TMX
Research group McKinsey & Company interviewed 30,000 consumers across 15 countries and found the following:
- 21% of global respondents have no desire to switch to EVs at all, with 33% citing concerns about charging.
- Concerns about charging are exacerbated by range expectations: Consumers’ minimum range expectations have grown from 270 miles in 2022 to 291.4 miles now. Range on the market is not growing as quickly, McKinsey said.
“[C]”Consumers are slightly more willing to consider electric vehicles than they were two years ago,” Automotive News reports, “and 38% of non-EV owners expect their next car purchase to be a plug-in hybrid or full battery electric vehicle, up from 37% in 2022.”
However, the 1% increase, from 37% to 38%, is not what EV advocates were hoping for.
The idea was that as more people buy and live with EVs, demand and desire for them would increase, but that clearly hasn’t happened.
—Breitbart News (@BreitbartNews) January 7, 2024
And as we all can see, we’re not building out the charging infrastructure. The Biden administration allocated $7.5 billion two years ago to build out the charging infrastructure because there just isn’t enough demand in the free market to build these charging stations through private companies.
To no one’s surprise, two years later, only eight charging stations had been built.
If there was a demand for charging stations, private companies would build them everywhere. Naturally, no one sees any potential for profit from such an undertaking. And now that the US EV industry appears to have peaked in both demand and sales, with 46% of US buyers wishing they had stuck with the good old internal combustion engine, things aren’t looking good for much longer.
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Even if the federal government built out the charging infrastructure, it wouldn’t solve a lot of other problems: 1) how long it takes to charge, 2) the fear that charging stations will be overcrowded or not working, and 3) the fear that you’ll run out of charge mid-drive. It’s not like someone can get you back on the road with a gallon of electricity.
Until charging takes less than 10 minutes and charging stations are as ubiquitous as gas stations are today, EVs will remain impractical status symbols for the elite.
John Nolte’s first and last novel Borrowed time, Winning 5-Star Rave Reviews Submissions from our everyday readers. You can read excerpts here here And a detailed review here. Also available in hard cover and Kindle and Audiobooks.
