Electric vehicles: wait and see approach stalling progress

The number of electric vehicles on UK roads is predicted to grow dramatically, especially since the UK government legislated that sales of new petrol and diesel cars will be banned from 2040.

 

But while EV sales are on the rise, it seems consumers are still not convinced – and businesses in particular are cautious of making the transition, at least for now.

 

Research we commissioned YouGov to conduct reveals that 45% of senior decision makers interviewed will not be investing in EV technology and infrastructure until after 2025.

 

Lack of charging points cited as barrier to investment

The main barriers to investment were cited as:

  • A lack of existing charging points on UK roads (32%)
  • Poor battery life that would limit journey times (30%), and
  • High installation costs (29%).

 

Meanwhile, 51% of respondents said they do not feel informed about the opportunities electric vehicles could present for their business.

 

Government offers more support to EV market

So the new set of measures announced in last month’s Budget to boost the EV market in the UK appear well timed.

 

These include £400m of investment for charging infrastructure, and a tax break for people who charge their EVs at work.

 

Currently, very few businesses currently offer on-site charging. Yet the YouGov research found that 38% of senior decision makers agree that providing such facilities would be beneficial.

 

On-site charging supports sustainability goals

The CSR benefit of having on-site EV charging facilities was seen as the biggest advantage, selected by 57% of respondents. This was closely followed by the ability of EVs to make businesses more carbon efficient (55%).

 

The key question for many though, is what comes first – the EVs or the charging infrastructure? And we’ll be addressing this topic in a forthcoming blog, so watch this space.

 

Our new Vehicle Charging Solutions division is also working with lots of businesses to help them make sense of how EVs can fit within their plans for more sustainable business operations. So if you’d like to find out more, visit npowerev.com – or talk to your Client Lead if you’re an existing customer.

Electric Vehicles