EV Owners Consider Switching Back to Gas: Infrastructure Woes
Submitted by MAGA
Posted 90 days ago
Nearly Half of US EV Drivers Consider Switching Back to Gas Vehicles, According to McKinsey Study
A recent study by McKinsey & Co. has revealed that nearly half of US electric vehicle (EV) drivers are considering switching back to gas-powered vehicles. The survey, which included 30,000 respondents from 15 countries, found that 46% of US EV owners are likely to return to driving gas-powered cars.
The lack of public charging infrastructure was cited as the main reason for this trend, with 35% of respondents saying that the current infrastructure is "not yet good enough for me." Additionally, 34% of respondents noted that the total costs of EV ownership were "too high."
These findings come as President Joe Biden announced in March the strictest regulation on vehicle emissions to nudge the auto sector's transition to electric cars. However, while the United States has been facilitating a market of more EV sales, the infrastructure has been lacking.
In the landmark 2021 Infrastructure Investment and Jobs Act, lawmakers approved $7.5 billion to construct 500,000 public charging stations for electric cars nationwide. However, only eight public EV-charging stations have been deployed to date, receiving rebukes from both sides of the aisle.
Transportation Secretary Pete Buttigieg has stated that the administration plans to build 500,000 chargers by 2030, but critics argue that this is not enough to meet the growing demand for EVs.
While EV prices have been falling, particularly for used ones, the lack of charging infrastructure remains a significant barrier to widespread adoption. According to data from iSeeCars, used EV prices were, on average, 8% lower than the average price for a used gas-powered car.
However, despite these challenges, the EV market is expected to stabilize in the next couple of years. According to S&P Global Ratings, modest demand growth will range between 1% and 2% from 2024 to 2026.
This news comes as a blow to the Biden administration's efforts to promote EV adoption and combat climate change. The lack of charging infrastructure and high costs of EV ownership are significant barriers to widespread adoption, and the administration must address these issues to achieve its goals.
In conclusion, while the EV market continues to grow, the lack of charging infrastructure and high costs of ownership remain significant barriers to widespread adoption. The Biden administration must address these issues to achieve its goals of promoting EV adoption and combating climate change.
Sources:
theepochtimes.com
webcache.googleusercontent.comwashingtonpost.com
carscoops.com
A recent study by McKinsey & Co. has revealed that nearly half of US electric vehicle (EV) drivers are considering switching back to gas-powered vehicles. The survey, which included 30,000 respondents from 15 countries, found that 46% of US EV owners are likely to return to driving gas-powered cars.
The lack of public charging infrastructure was cited as the main reason for this trend, with 35% of respondents saying that the current infrastructure is "not yet good enough for me." Additionally, 34% of respondents noted that the total costs of EV ownership were "too high."
These findings come as President Joe Biden announced in March the strictest regulation on vehicle emissions to nudge the auto sector's transition to electric cars. However, while the United States has been facilitating a market of more EV sales, the infrastructure has been lacking.
In the landmark 2021 Infrastructure Investment and Jobs Act, lawmakers approved $7.5 billion to construct 500,000 public charging stations for electric cars nationwide. However, only eight public EV-charging stations have been deployed to date, receiving rebukes from both sides of the aisle.
Transportation Secretary Pete Buttigieg has stated that the administration plans to build 500,000 chargers by 2030, but critics argue that this is not enough to meet the growing demand for EVs.
While EV prices have been falling, particularly for used ones, the lack of charging infrastructure remains a significant barrier to widespread adoption. According to data from iSeeCars, used EV prices were, on average, 8% lower than the average price for a used gas-powered car.
However, despite these challenges, the EV market is expected to stabilize in the next couple of years. According to S&P Global Ratings, modest demand growth will range between 1% and 2% from 2024 to 2026.
This news comes as a blow to the Biden administration's efforts to promote EV adoption and combat climate change. The lack of charging infrastructure and high costs of EV ownership are significant barriers to widespread adoption, and the administration must address these issues to achieve its goals.
In conclusion, while the EV market continues to grow, the lack of charging infrastructure and high costs of ownership remain significant barriers to widespread adoption. The Biden administration must address these issues to achieve its goals of promoting EV adoption and combating climate change.
Sources:
theepochtimes.com
webcache.googleusercontent.comwashingtonpost.com
carscoops.com
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