What's holding back EV adoption

NEW YORK: High purchase prices top the list of reasons preventing sceptics from considering electric vehicles (EVs) in addition to insufficient driving range and the cars’ battery life.

Other concerns include electricity prices and the availability of public charging infrastructure.

Surprisingly, sustainability has a minor influence on purchase decisions.

These are some of the findings of a recent survey by McKinsey & Co’s Mobility Consumer Pulse. A total of 15,034 individuals in France, Germany, Italy, and Norway were polled.

The EV driving range needs to be about 500km for buyers to switch from an internal combustion engine (ICE) vehicle to a fully electric car.

A longer driving range could accelerate battery electric vehicle (BEV) adoption in Europe.

Both ICE buyers and traditional car supporters share one characteristic – they would not buy an EV without taking a test drive – indicating that this step remains a critical part of the purchase journey.

It says prospective buyers are increasingly considering non-European brands even though BMW, Mercedes-Benz, Renault, and Volkswagen are still popular.

EVs account for 16% of new-car sales in Europe, up from under 1% in 2019.

Since the start of 2024, more than 875,000 BEVs have been sold across the continent, it adds.