Despite rising fuel prices, the mass adoption of electric vehicles (EV's) is still a few years away, according to a study by business advisory firm Deloitte.

A survey of 4760 people in Europe showed only 16% saw themselves buying or leasing an electric vehicle; 53% said they might consider it, 31% were not likely to consider purchasing or leasing an EV.

David Raistrick, head of manufacturing at Deloitte UK, said EV's were growing in popularity though current models fell short of expectations.

“There is no doubt that EV's are the future of the automotive industry," Raistrick said. "However, while interest in them has grown to 69% of respondents, current products fall far short of consumers’ expectations for range, recharge time and price.”

More than 80% of respondents said range and ease and cost of recharging would be key considerations before buying or leasing an EV.

Raistrick added: “These concerns need to be addressed. Our research shows there are design targets that manufacturers must reach to entice buyers. About 75% of respondents expected to be able to travel 480km between charges - much further than currently vehicles - and 67% said the battery must take no longer than two hours to charge."

PRICING CHALLENGE

Most (57%) of respondents who said they might consider an EV expected to pay the same or less for one than for a comparable regular car. Only 24% of the same group said they would be willing to pay a premium.

Hybrids and battery vehicles are a tiny fraction of all cars on the road. The adoption of all forms of green vehicles would be significantly influenced by government policies.

Raistrick said price and state incentives such as tax reductions would be important.

“For mass adoption, automakers will need to meet the challenge of pricing EV's in line with consumers' expectations. Buyers are not likely to want to pay a premium for an EV so incentives such as a tax break and exemptions would be very important."
 

Courtesy of: www.news24.com