When it comes to technological developments, whether automotive or otherwise, things don’t always happen fast. Electric vehicles are still relatively new and they haven’t caught on yet. But automakers are looking forward to the day when 10-25 percent of their global fleets will consist of electric vehicles. The question is, What’s it going to take to get us there?
Bottom line, consumers will adopt electric vehicle technology when the price matches what they’re willing to pay. That means MSRP and drive-it-off-the-lot prices.
It also means that ongoing costs and maintenance will have to meet with consumer expectations. While electric vehicles don’t require fuel expenditures, hybrid vehicles do. And all-electric vehicles will require battery charging stations in order to keep them running. That will be an expense.
Most consumers today have no basis of comparison between what it costs to fill up their vehicles to pay for their driving habits and the ongoing costs of charging their vehicles. What will battery chargers for vehicles cost? Will they require ongoing maintenance? If so, what is the expected cost of that maintenance? And what is the shelf life of the battery charging station? How much space in a car owner’s garage will it take up?
These are just a few of the questions on consumers’ minds. What about driving long distance? How often will electric vehicles require charging? There will have to be EV charging stations. Right now, there are few. Some, but few.
Nevertheless, despite consumer concerns, automakers are confident that electric vehicle technology will eventually be adopted. It is likely that hybrid vehicles will be more popular than all-electric vehicles, but the public is coming along. It’s just a matter of time before mass adoption.