Challenges Still Facing the EV Market

We talk often about the exciting new technology on the market and the companies which are striving to make electric vehicles more advanced, affordable and accessible to all. However, while we celebrate the wins which take us one step closer to our goal, we often do not take time to assess what still needs to be done. That said, let this be a moment to take stock and look and what challenges still need to be overcome.

Limited Choice

There are currently around 130 different models of electric vehicle available in the UK. While this number is still substantial, it is tiny when compared to the number of traditionally fuelled alternatives on the market. Moreover, given the relative novelty of electric vehicles, the range of second-hand options is very limited. As a result, people who do not tend to purchase brand new cars are left with even more limited choice. For these reasons, most major car manufacturers are in the process of releasing a wide range of electric vehicles which appeal to all buyers. As technology progresses and current electric car drivers wish to renew their vehicles, the availability of second-hand options will also increase. It is considered to only be a matter of time before this issue is overcome.

Affordability

The average price of an electric vehicle is around £5,500 more than that of an equivalent traditionally fuelled car. For many people, this is not affordable, particularly is a one-off purchase. Furthermore, as we have said already, the lack of second-hand models means that people would be forced to purchase expensive brand-new vehicles which often lose their value rapidly. At the moment, the government grant of £3,000 is designed to partially bridge this gap and many manufacturers rely on the lower running costs of EVs to justify their higher price point. Nevertheless, as technology progresses, prices will fall, and this will no longer be an issue.

Time

Electric vehicles could be the perfect option right now for everyone in the UK, but it would still take time for their adoption to be rolled out. Given the time it takes to manufacture vehicles, how often people change their cars and people’s individual preferences, it would be naïve to think that this transition could happen overnight. Many of the schemes being designed by the government are aimed at speeding up this process. They have offered grants and tax-breaks to manufacturers to increase the production of EVs, incentivised consumers using grants and rolled out infrastructure to give individuals and companies peace of mind. For all intents and purposes, uptake of electric vehicles is much quicker than many could have expected and will only continue to rise as public opinion shifts.

Funding

It is all fine and well to assume that government pockets are deep enough to invest in the required infrastructure, but this is simply not the case. The fact is that a large proportion of the infrastructure we need for electric travel will have to be funded by commercial firms and individuals. Many companies are under growing pressure from consumers to demonstrate their green credentials and this is being reflected in new environmentally-focused commercial policies. However, if we are to realise our goals, we need further commitment from our largest corporations.

If you are an individual or business owner looking to install an EV charge point, please get in touch. A member of our team would be happy to any questions that you have. Call us on 0141 280 8890 or drop us an email at [email protected]

We also have a variety of platforms available with extensive information about electric vehicles (brite-ev.com), EV chargepoints (evchargepoints.com) and EV accessories (briteaccessories.com).

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