Why EVs are still not mainstream

17 March 2023

Spire Senior Consultant, Bambang Tobing, discusses why people express a lack of interest in electric vehicles even after being in the industry for 10 years.

One-fifth of the world’s carbon dioxide emissions come from transport, of which a huge 75% of emissions are from automobiles. This is worrying as fossil energy reserves like fuel oil is rapidly depleting. Electric vehicles (EVs) can be the solution for a cleaner and greener environment, but it only recorded 10.6 million units, or just 13% of car sales worldwide, sold in 2022.

Despite having been in the market for 10 years, it is still mostly accepted by consumer innovators and early adopters. One of the reasons is the perception of EVs as low-range vehicles due to their limited battery capacity and lack of charging infrastructure.

A study conducted by Spire explains the lack of interest in electric motorcycles and cars. The reasons include pricing, battery life, and limited mileage. Motorcyclists also miss the loud exhaust sounds that is missing from a silent electric motorcycle.

To cross the chasm to reach the mainstream market, electric vehicle manufacturers, battery manufacturers, energy producers, regulators, environmentalists, and financial institutions need to work together to resolve the inhibiting factors.

Click here to read the full article at TechnoBusiness.

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Marie Teo
Manager, Group Corporate Communications
Spire Research and Consulting
Phone: (65) 6838 5355
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