NYT Report Shows Disinterest in EVs Still Rife in
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Posted On: 03/15/2024 7:11:50 PM
NYT Report Shows Disinterest in EVs Still Rife in US
Despite significant government and corporate efforts to push electric vehicle adoption, many Americans are disinterested in purchasing battery electric vehicles (BEVs). That said, battery electric vehicle (BEV) sales in the country are on the rise, and BEVs currently account for nearly 10% of all new vehicle registrations.
Hybrid electric cars are more popular among consumers and have higher adoption rates because they allow drivers to reduce their emissions without ditching internal combustion engine cars completely.
However, a recent New York Times report has found that while states such as California have significantly high electric-vehicle adoption rates, with cities such as San Francisco enjoying a 30% EV adoption rate, metro areas including New York, Detroit and Buffalo are the complete opposite. The report notes that while EVs accounted for 30% and 25% of auto registrations in San Francisco and Los Angeles respectively, there are parts of the country where consumers are completely uninterested in electric cars.
Electric vehicle registration in Detroit was at 5%, even though the state is historically America’s automotive capital while the Bismark, North Dakota, area had only 1% electric vehicle adoption. Unsurprisingly, the report found that the majority of battery-electric vehicle drivers are rich young drivers who typically reside in urban regions. Many of these EV drivers said environmental concerns drove their decisions to buy an EV, while some drivers said they were drawn by the next-generation technology featured in many modern electric vehicles.
In regions such as Cleveland, Ohio, and McAllen, Texas, consumers say they haven’t made the switch to battery electric vehicles because of limited range, poor public EV charging infrastructure, and high prices. Poor public infrastructure coupled with limited EV range has led to “range anxiety,” an issue that has prevented many drivers, even those who can afford to purchase an electric car, from making the switch to EVs.
To avoid this issue, most electric vehicle drivers charge their cars at home via private chargers. While this allows them to avoid unreliable public charging stations, it locks out drivers who cannot afford to install a private charger or don’t have the dedicated space for such a charger. As a result, only a minority of drivers can afford to purchase an EV and install a private charger.
High electric vehicle prices are also hindering public interest in electric vehicles. Even though EV prices have fallen slightly in recent months, thanks to a price discount war between Tesla and Chinese EV makers, prices are still higher than traditional internal combustion engine cars. Coupled with high-interest rates and a soaring cost of living, high prices are contributing to the rising disinterest in electric cars among American drivers.
Electric vehicle makers such as Mullen Automotive Inc. (NASDAQ: MULN) now have the task of wooing these disinterested members of the public so that the uptake of EVs can accelerate.
NOTE TO INVESTORS: The latest news and updates relating to Mullen Automotive Inc. (NASDAQ: MULN) are available in the company’s newsroom at https://ibn.fm/MULN
Please see full terms of use and disclaimers on the Green Car Stocks website applicable to all content provided by GCS, wherever published or re-published: https://www.GreenCarStocks.com/Disclaimer
Despite significant government and corporate efforts to push electric vehicle adoption, many Americans are disinterested in purchasing battery electric vehicles (BEVs). That said, battery electric vehicle (BEV) sales in the country are on the rise, and BEVs currently account for nearly 10% of all new vehicle registrations.
Hybrid electric cars are more popular among consumers and have higher adoption rates because they allow drivers to reduce their emissions without ditching internal combustion engine cars completely.
However, a recent New York Times report has found that while states such as California have significantly high electric-vehicle adoption rates, with cities such as San Francisco enjoying a 30% EV adoption rate, metro areas including New York, Detroit and Buffalo are the complete opposite. The report notes that while EVs accounted for 30% and 25% of auto registrations in San Francisco and Los Angeles respectively, there are parts of the country where consumers are completely uninterested in electric cars.
Electric vehicle registration in Detroit was at 5%, even though the state is historically America’s automotive capital while the Bismark, North Dakota, area had only 1% electric vehicle adoption. Unsurprisingly, the report found that the majority of battery-electric vehicle drivers are rich young drivers who typically reside in urban regions. Many of these EV drivers said environmental concerns drove their decisions to buy an EV, while some drivers said they were drawn by the next-generation technology featured in many modern electric vehicles.
In regions such as Cleveland, Ohio, and McAllen, Texas, consumers say they haven’t made the switch to battery electric vehicles because of limited range, poor public EV charging infrastructure, and high prices. Poor public infrastructure coupled with limited EV range has led to “range anxiety,” an issue that has prevented many drivers, even those who can afford to purchase an electric car, from making the switch to EVs.
To avoid this issue, most electric vehicle drivers charge their cars at home via private chargers. While this allows them to avoid unreliable public charging stations, it locks out drivers who cannot afford to install a private charger or don’t have the dedicated space for such a charger. As a result, only a minority of drivers can afford to purchase an EV and install a private charger.
High electric vehicle prices are also hindering public interest in electric vehicles. Even though EV prices have fallen slightly in recent months, thanks to a price discount war between Tesla and Chinese EV makers, prices are still higher than traditional internal combustion engine cars. Coupled with high-interest rates and a soaring cost of living, high prices are contributing to the rising disinterest in electric cars among American drivers.
Electric vehicle makers such as Mullen Automotive Inc. (NASDAQ: MULN) now have the task of wooing these disinterested members of the public so that the uptake of EVs can accelerate.
NOTE TO INVESTORS: The latest news and updates relating to Mullen Automotive Inc. (NASDAQ: MULN) are available in the company’s newsroom at https://ibn.fm/MULN
Please see full terms of use and disclaimers on the Green Car Stocks website applicable to all content provided by GCS, wherever published or re-published: https://www.GreenCarStocks.com/Disclaimer
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