Time anxiety is emerging as a point of concern for consumers looking into purchasing an electric vehicle, according to a report by Escalent, a Livonia-based human and behavior analytics firm.
Escalent’s latest “EVForward DeepDive,” which explores the key issues impacting the broader, ever-changing electric vehicle ecosystem, has identified “time anxiety” as a key metric for buyers evaluating the pros and cons of an EV purchase.
“As electric vehicle range has increased, new priorities in EV ownership are becoming clearer,” says Mike Dovorany, vice president of automotive and Mobility at Escalent. “In particular, time spent at the charging station has become a chief concern. Consumers have shown they don’t have hours to wait for 100 miles of charge.
“Availability of direct current fast charging — which is up to 16 times faster than conventional Level 2 charging — is critical to driving EV adoption as shoppers increasingly compare the time spent charging to a stop at the gas pump.”
The latest EVForward insights demonstrate consumers’ focus on fast charging, with the technology registering twice as important for an improved EV charging experience as the next-ranked feature — the proximity of a charger to the driver’s route. This implies consumers are not simply satisfied with a broad network of available chargers — they need fast chargers to really consider EVs alongside gas and diesel vehicles for their next purchase.
“EV manufacturers and their charging network partners have been very focused on expanding the number of charging stations,” Dovorany adds. “But charging speed is a much larger opportunity. They must look for ways to increase the availability of DC fast chargers in public and reduce the time spent at the station.”
Other issues evaluated in this edition of the “EVForward DeepDive” market report include the importance of home chargers and the potential of EV warranties to instill consumer confidence.
Escalent says EVForward is the largest, most comprehensive study of the next generation of EV buyers, with more than six million variables encompassing proprietary survey information and additional profiling data. The tool provides actionable analysis based on quantity and quality of inputs to inform the steps industry players need to take today to inspire broader adoption of EVs and ensure their success with future buyers.
Excalent is hosting a webinar on Oct. 29 from 2-2:30 p.m. to detail the findings in the report. To register, visit here.