Vehicle electrification
Consumer interest in full hybrids and range-extender technology (that is, no external charging plug) is gaining momentum in several global markets as consumers seek a “best of both worlds” solution to reduce fuel costs and lower emissions without the need for charging infrastructure.
Preference for engine type in next vehicle
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Respondents in some global markets continue to steer away from all-battery electric vehicles (BEVs) in favor of internal combustion engines (ICE) and hybrids, which could be due, in part, to lingering affordability concerns.
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Reasons for choosing an EV as next vehicle
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Some reasons surveyed consumers intend to acquire an electrified vehicle include a desire to lower fuel costs, concern for the environment, and the driving experience (for example, quieter, better performance).
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Preferred price ranges for next vehicle
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Affordability remains a major issue for consumers in many markets around the world.
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Preferred charging locations for EVs
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The push to create public charging capacity may be somewhat overstated in many markets, as a strong majority of EV intenders surveyed plan to charge their vehicle at home.
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Reasons for not charging EVs at home
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Consumers who do not plan to charge their EVs at home often cite challenges such as the installation cost, and the incremental increase in energy bills. Additionally, those living in shared spaces, such as apartments, highlight issues related to the use of shared chargers.
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Preferred public charging locations for EVs
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Consumers surveyed in most global markets would prefer to charge their EVs at a dedicated charging facility, perhaps reflecting a perception that these locations may offer more access to chargers equipped with the latest technology.
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Expected charging time at public stations for EVs
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A long-standing industry assumption that EV charge times need to be at par with fossil fuel fill-ups may be overstated, as surveyed consumers in most markets are willing to wait up to 40 minutes.
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The most important aspect of an EV charging experience
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Overall, consumers surveyed across global markets agreed that the most important aspect of an EV charging experience is the speed of charging (fast charging times), eclipsing other factors such as accessibility, amenities, security, and even the number of available or functional plugs.
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Top concerns regarding all-battery-powered EVs
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When it comes to BEVs, consumers surveyed are generally most concerned about charging duration, range anxiety, cost, lack of public charging infrastructure, and battery safety.
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Entity responsible for collecting, storing, and recycling EV batteries after their useful lives
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The global end-of-life EV battery value chain remains relatively nascent even as the number of EVs on the road continues to increase (as per the International Energy Agency’s Global EV Outlook 2024), and consumers surveyed are split in terms of who they think should be responsible for battery stewardship.
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