ING Americas’ Post

The surge in long-range EV options in the US reflects a significant shift in consumer demand towards sustainable transportation. With 30 models offering 300+ miles per charge and an additional 20 on the horizon, the market is rapidly evolving. Despite challenges like range anxiety and charging infrastructure, the trend towards longer-range batteries signifies a promising future for EV adoption. As technology advances and charging networks expand, the 300-mile threshold may become the new standard for mass-market appeal. #ElectricVehicles #Sustainability

With a 7% adoption rate EV's have appeared to hit a stall point due to factors like high purchase cost, range anxiety, and charging speed/reliability/availability. #fleetmanagement #electricvehicles

EV hype is hitting a major fork in the road with reality. With only a 7% adoption rate EV's have appeared to hit a stall point due to factors like high purchase cost, range anxiety, and charging speed/reliability/availability. Will be interesting to see where things move. #fleetmanagement #electricvehicles https://lnkd.in/gQaUdSqS

 BCG research reveals that 70% of US consumers are contemplating buying an electric vehicle (EV).Despite recent industry setbacks, the US market shows significant potential for EV adoption, with 38% of consumers planning to purchase an EV as their next vehicle and 27% considering a future purchase. Future EV adopters prioritize lower prices, superior performance, wider variety, and easy access to high-speed chargers, necessitating OEMs to meet these demands with their upcoming EV models.OEMs can potentially fulfill these requirements with the next generation of EVs, but they will require support from policymakers and increased investments in charging infrastructure. Challenges faced by OEMs include ensuring profitability, addressing consumer concerns about costs and charging experiences, and advancing technology. EV sales could reach up to 30% of US sales with the next-gen EVs, while hybrids are expected to play a substantial role in the transition. To succeed, OEMs need to understand and cater to consumer needs, invest in fitting technologies, manage costs effectively, and enhance the charging infrastructure.The successful transition to EVs in the US market necessitates addressing profitability issues, meeting consumer expectations, aligning with government policies, and enhancing charging infrastructure.  https://lnkd.in/gn2be42W Follow Humans Of EV #ElectricMobility #EVCharging #Innovation #humansofev #electric #electricvehicles #electricscooter #electriccars #electricbike #ebike#zeroemissions #emobility #charginginfrastructure #escooters #cars #electricmobility #teslamotors #car #scooter #gogreen #carsofinstagram #model #ecofriendly #goelectric #evnews #electriccharging #evcharginginfrastructure #chargingstation

the average prices of new EVs have been steadily decreasing, making them more accessible to a wider range of consumers. This shift is attributed to various factors, including technological advancements, economies of scale, and government incentives. One standout contributor to this positive trend is the declining cost of batteries, a crucial component of electric vehicles. As battery technology continues to improve and production scales up, the manufacturing cost of EVs decreases, making them more affordable for consumers. The implications of decreasing EV prices are significant. It expands the market for electric vehicles, attracting a broader consumer base and accelerating the transition to clean transportation. Moreover, affordable EVs contribute to environmental goals by reducing greenhouse gas emissions and improving air quality. Comment below and share your thoughts on the immense potential of affordable EVs. Together, we can drive positive change! #technology #manufacturing #electricvehicles #emobility #electricmobility #greenenergy #renewableenergy

Interesting BCG's latest research sheds light on the requirements of the next wave of EV adopters. Based on a study of 3,000 consumers, the findings reveal that the key factors for EV adoption are price, range, and charging times. According to the study, consumers are willing to pay a maximum of 20% more for an EV compared to an ICE vehicle. Additionally, the ideal range for EVs is 350 miles or 550km, and the preferred charging time is 20 minutes. These insights are crucial for automakers looking to meet the demands of the growing EV market. #EVadoption #BCGresearch #sustainability

🛻⚡ Battery Price Drop: A Game-Changer for EVs, Yet Truck Sales Lag The fascinating dance of electric vehicle (EV) battery prices and their market impact! It’s like watching a skilled tango where one partner, the rapidly declining battery costs, effortlessly leads the other, the hesitant EV market. Goldman Sachs Research’s latest findings hint at a dramatic 40% drop in battery prices by 2025. This isn’t just good news; it’s a potential game-changer in making EVs financially attractive compared to their internal combustion engine (ICE) counterparts. Yet, here lies an intriguing paradox. As battery prices plummet, making EVs more wallet-friendly, there’s a curious reluctance, particularly in the truck segment. Manufacturers are scratching their heads over this. You’d think cheaper batteries would have customers flocking to EV trucks, but the reality is a bit more complex. It seems that while the price is a critical factor, it isn’t the sole driver of consumer choice. There’s more to this story than just economics. Consumer habits, perceptions, and perhaps the allure of luxury EV models over practical trucks are playing a substantial role. This divergence between what’s technically feasible and economically sensible versus what the market is actually embracing is a classic example of innovation’s unpredictable journey. In essence, we’re at a crossroads where the path to widespread EV adoption is clearer than ever, yet consumer behavior remains as enigmatic as always. The coming years will be crucial in determining whether these cost reductions translate into a seismic shift in consumer preferences or if other, less tangible factors continue to steer the wheel. #ev #energy #automotive #cars #electricvehicle

The race is on! Companies are swiftly developing solutions to certify the health of EV batteries, unlocking the potential of the used electric vehicle market. Dive into this insightful piece from Reuters on the race to certify battery health in used EVs—a vital component determining their true value. Let's discuss the future together! #EVMarket #BatteryTechnology #FutureOfMobility

S&P Global Mobility's survey reveals a dip in global interest in EVs, with the percentage of prospective EV buyers dropping to 67% in 2023. High costs and current economic pressures are major deterrents, despite recognition of EVs' benefits over conventional ICE vehicles. China, however, bucks the trend, showing significant growth in EV adoption. The report forecasts a bright future, predicting a substantial increase in EV sales by 2030, driven by technological advancements and more affordable models. Amidst these trends, what strategies could bridge the gap in EV affordability and adoption worldwide? For a deeper understanding of these shifting dynamics and their implications, click here to read the article: https://lnkd.in/dNvhTEaU Gill Nowell Pete O'Connor would be great to have your take on this. #ElectricVehicles #Automotive #AutomotiveIndustry #EVIndustry #EVs #EVAdoption #Sustainability #AutoIndustry

The race is on! Companies are swiftly developing solutions to certify the health of EV batteries, unlocking the potential of the used electric vehicle market. Dive into this insightful piece from Reuters on the race to certify battery health in used EVs—a vital component determining their true value. Let's discuss the future together! #EVMarket #BatteryTechnology #FutureOfMobility