Today’s electric vehicle market is growing at high rates but unaware consumers present a risk to the future success of electric vehicles (EVs). Over the coming years electric vehicles will take over the automotive industry. Consumers will need to become more educated in order to keep up with the rise and adoption of electric vehicles. Automotive companies will play a large part in this future of education for electric vehicles.
This paper uses various studies and my own personal study from my summer internship with Ford Motor Company to determine the biggest consumer fears, challenging them and how automotive companies can combat them. In my opinion, the biggest consumer fears for electric vehicles are range anxiety, lack of a charging network, high initial purchase prices, battery replacement costs and lack of appealing options. Consumers who are not interested in EVs, are interested or just looking have fears that can come from opinions or others opinions. These fears can easily change through factual points.
I have included numerous studies that combat these fears and show the truth of each category. In each category I have used studies that point out reasons why these fears are nothing to worry about. Consumers need to learn these fears can be easily changed and that is what this section aims to do.
Automotive companies will have to play a large part in this educational piece. My paper outlines what they need to do in order to succeed in the future. A major part will be dealer engagement. Dealerships represent the face of the company and if they are unwilling or cannot sell EVs, then electric vehicles will not succeed.
Finally, I provide my personal thoughts on the future of the electric vehicle market and what is holding high adoption rates of EVs back.