Mainstream EV Adoption: 5 Speedbumps to Overcome #infographic

 

Mainstream EV Adoption: 5 Speedbumps to Overcome #infographic

Most would agree that a global transition to electric vehicles ( EV) is an essential step in building a carbon-free future. However, for various reasons, EVs have so far struggled to enter into the mainstream, accounting for just 2.5 percent of global car sales in 2019.

In order to understand why, this infographic from Castrol outlines the five key obstacles that EVs will need to overcome. All findings are based on a 2020 survey of eight global EV markets among 10,000 consumers, fleet managers, and industry professionals.

Since the early 1900s, automobiles have depended on the internal combustion engine ( ICE), and the ownership experience of an EV can be even more complex as a result. The five crucial problems we discuss below result in this.

The biggest challenge is expense, with 63% of customers thinking that EVs are beyond their current budget. While several cheaper EV models are being introduced, in terms of initial affordability, ICE vehicles still have the upper hand. Note the focus on "original" because EVs can actually be cheaper to sustain over the long term.

For instance, there are considerably less moving parts for an EV drivetrain than for an ICE counterpart, which may lead to lower maintenance costs. Other things to consider are government subsidies and the cost of energy.

But what is the tipping price that will induce most customers to purchase an EV? It varies across the globe, according to Castrol.

Mainstream EV Adoption: 5 Speedbumps to Overcome #infographic

infographic by: www.visualcapitalist.com

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