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Tuesday, May 31st, 2022

The world’s car buyers are ready to go electric

Author:     Joanna Muller
Source:     Axios
Publication Date:     28 May 2022
 Link: The world’s car buyers are ready to go electric
Stephan:   The United States, which for the last 75 years has led the world technologically in everything from airplanes to computers is no longer in the lead, as this report on the conversion out of petroleum vehicles to EVs demonstrates. President Biden had the right idea with his Build Back Better legislation, which would have created a nationwide network of charging stations, that would have encouraged the conversion, but the Republicans with Manchin and Sinema would have none of it. And so increasingly we lag behind, as the chart shows.

Consumer interest in electric vehicles has hit a global tipping point, with more than half of car buyers saying they want their next car to be an EV, new research from Ernst & Young shows.

  • Yes, but: Americans still aren’t as enthusiastic as consumers in Europe and Asia.

Why it matters: The world is in the midst of a global transition away from gasoline-powered vehicles, driven by environmental concerns and, in some countries, avoidance of stiff penalties on vehicles with internal combustion engines.

Driving the news: 52% of respondents to EY’s annual Mobility Consumer Index who are looking to buy a car want an EV, according to the survey of 13,000 people in 18 countries.

  • That’s a leap of 22 percentage points in two years, and the first time that EV interest exceeded 50%, the company said.
  • Buyers in Italy (73%), China (69%) and South Korea (63%) were the most interested.
  • Consumers in Australia (38%) and the U.S. (29%) showed less interest.

Between the lines: Government policies are probably driving consumer choices in many markets.

  • The European Union, for example, plans to ban sales of conventional […]
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1 Comment

  1. Rev. Dean on Tuesday, May 31, 2022 at 10:06 am

    We’ve had a lot of news lately about an electric car fire and the person trying to put it out did not know that a person must use carbon dioxide to put out an electrical fire. Adding water like they did just added fuel to the fire.