Your team’s analysis has revealed three key insights:
- Electric vehicle sales demand is expected to grow by more than 400% by 2025.
- The number of publicly available vehicle charging stations is a significant factor in consumer buying decisions. Currently, there are many locations with so few charging stations that electric car owners would run out of power when traveling between stations.
- Vehicle battery range is also a significant factor for consumers. In 2020, the average battery range was 210 miles. However, the vast majority of survey respondents report they will not buy an electric car until the battery range is at least 300 miles per charge.