Drive along American roads and all you see are gasoline-powered sport utility vehicles and pick-up trucks. Sedans are a rarity and electrics even more so. That’s even as pump prices are surging.
Trouble is, internal combustion-engine vehicles are getting more consumer-friendly and cleaner than they were in the past. Electrics aren’t getting anywhere close to it, and there just aren’t enough of them.
The benefits of being an EV owner are plenty, no doubt. If you are lucky enough to have one already, you could save $1,800 to $2,600 in operating and maintenance costs this year, assuming an average 15,000 miles of driving. You can feel good about just charging up, instead of watching mounting gas bills. And, of course, you can celebrate that you’ve joined the ranks of more climate-change aware consumers.
I recently traveled around the northeastern US states in a Chevrolet Traverse and a Honda Pilot, so I am not surprised that many would rather drive these cars than vie for an EV. The tech features — often taken for granted by owners of superbly engineered German cars with the strong steering feel — make cruising along suburban highways extremely easy. Thoughtful functions and innovations include a blindspot sensor on sideview mirrors to help change lanes, easy gear-switching, an extra row of seats that don’t make the car feel too large and a well-integrated interface like Apple CarPlay or Android Auto. They are now basic in new cars and, I’d say, cooler and more useful than Tesla Inc’s dance and celebration mode.
Walk into a showroom today and you can walk out with a gas-engine car right away, too. An electric will likely take a lot longer. Add to that, annual flat fees being considered, or already in place, in US states and the value proposition of owning an EV starts to fade away. Of the 12 states that have proposed new or increased EV fees, 10 will make drivers pay more than a gas-powered vehicle by 2025. All told, the cost of ownership is high and goes beyond the price of the car.
Ultimately, people want a comfortable and easy driving experience. Of all the EV owners out there, few get into battery logistics or emissions on a daily basis. The sad reality is, with inflation eating into wallets, consumers aren’t so focused on how green they are or how much they can reduce their carbon footprint. And they may already feel they’re doing their part to help save the planet by using less plastic or composting. Such is the human psyche.
It’s also important to remember that traditional cars have also gotten better and more fuel efficient. Carbon dioxide emissions have dropped by 24% over the last two decades, while fuel economy has increased by over 30%, according to the U.S. Environmental Protection Agency. Meanwhile, all vehicle types are producing record low emissions. There is no doubt, though, that once you start driving EVs or even hybrids, emissions drop further. But those are bonuses at this point.
The reality is, the barriers for EVs are rising and the biggest one is the growing list of consumers’ anxieties.
Lowering those obstacles isn’t all that challenging. It requires policy focus and the introduction of clear steps to address the worries. Range anxiety? Get fast-chargers up and running and upgrade grids. Plenty of companies are on it, including the likes of FreeWire Technologies Inc., which recently signed a letter of intent with a pit stop operator, Phillips 66. Costs? Expand government incentives and credits for owners while discouraging internal combustion engine cars.
The US is working to get companies on board to expand things like EV charging networks and has just started breaking ground on facilities for battery and green car production. But it’s slow and doesn’t directly address consumers’ anxieties or the cost of ownership. China, on the other hand, has incentivized EV buyers and manufacturers as well as building out the necessary infrastructure.
Making EVs more accessible isn’t the challenge for the US; policy conviction is.
Bloomberg News provided this article. For more articles like this please visit
bloomberg.com.
Read more articles by Anjani Trivedi
