Survey says consumers avoid electric cars due to three myths: range, price, charging (electrek)

Survey says consumers avoid electric cars due to three myths: range, price, charging (electrek)

  • According to a new survey by Autolist, the top reasons for not buying an EV were range, price, and charging, with c. 40% of respondents concerned about these issues.
  • The author makes the argument that these concerns are outdated, as EV prices are already below US$30k (after fuel cost advantage), provide a range of ~250miles, and the are thousands of charging points every where in the US.
  • One of the positive insights from the survey is that the majority of consumers (55%) now said they would use an EV as their primary vehicle rather than as a secondary vehicle (which was previously the top answer).

Analysis and Comments

  • This article fits in well with the investor’s view as to the process by which EV uptake will occur
  • The short version is that, as the article highlights, the key issue around EV adoption will be familiarity. For most consumers, current EVs are perfectly suitable for day to day use. Most of us just don’t drive far enough to need to recharge more than once a day (as with the person in this story). So the key is getting people to try one.
  • This does not understate the charging infrastructure challenge; yes, there is a lot more that needs to be done to roll out charging stations, especially fast chargers. But this is a solvable problem.
  • As with similar innovations, the adoption curve starts slowly and then rapidly accelerates – we expect to hit this inflection sometime in the mid 2020s. Tailwinds to this include tougher emission standards & city centre driving restrictions & potential headwinds include cutting of subsidies and a lack of affordable model choice.

The article also makes an important point:

  • Auto makers don’t need to keep making the range further & further, if the cost is more expensive batteries & hence a very expensive EV. The alternative is cheaper shorter range EVs, possibly with a lease package that includes the occasional use of a petrol car for longer trips

Future EV Leaders are in “Emerging” Markets

China’s electric vehicle charging posts
exceed 1 mln (XinhuaNet)

  • The
    number of charging points in China has risen to 1m (up 69% YoY).
  • At
    the end of 2018 there were 760k charging points in China, up from 440k at end
    of 2017.

Analysis and Comments

  • Charging infrastructure is a lot more important than battery cost and subsidies in sustaining EV growth. The Chinese authorities are shifting their priorities from subsidizing EVs to financing the roll out of charging infrastructure.
  • The availability of high power/speed charging infrastructure will make short range EVs (~150miles) viable as your first car rather than your second one.
  • This is necessary, as battery costs are likely to bottom out at above $100/kWh which would make mass market EVs with long range commercially unaviable in the absence of subsidies.

Indian Cities Now Plan To Buy Thousands Of
Electric Buses (CleanTechnica)

  • Indian cities are planning to buy thousands of electric buses over the next few years.
  • In India, the government is spending $1.3bn on its electric bus programme and the funds will be used to subsidise 60% of the cost of the bus.

Analysis and Comments

  • Chinese bus OEMs such as BYD are the best placed to benefit from this opportunity, because they have a clear cost advantage versus bus OEMs in Europe and the US.
  • For the cobalt market (and hence Umicore), the bus market will also be important due to the shift in battery technology in buses from LFP to NMC which will boost cobalt demand.  

BYD Share Price

New Renault Zoe – bigger battery, longer range and faster charging

New Renault Zoe – bigger battery, longer range and faster
charging (

Renault has
formally launched the new version
of the Zoe, the model is to be known as the Z.E 50. Details on pricing
etc are still to be announced, but its expected to be broadly in line with
the current model.Key details
from a battery perspective are a
larger battery (up from 41kWh to 52kWh) & the addition of a faster
charging capacity, using the CSS plug – but only up to 50kw.In addition the
electric motor (developed in house) has its power increased to 100kW

Analysis and Comments