The electric vehicle story seems to have changed lately from an expectation of rapid adoption and frantic production to a reality of cooling interest and pullbacks in investments.
General Motors (GM) – Get Free Report pushed back its EV targets and postponed its coming EV lineup in what it called an effort to ensure profitability; Ford (F) – Get Free Report postponed $12 billion in EV investments; Hertz is slowing the electrification of its fleets, in part citing weak resale value; and Tesla (TSLA) – Get Free Report remains engaged in a price war meant to entice skeptical buyers…
Part of the gap in the adoption curve additionally involves differences between early adopters and the masses.
Jeremy Michalek, Carnegie Mellon professor of engineering and public policy, told TheStreet in August that the early adopters tend to have garages, meaning they can charge their EVs overnight and at home. For the second, larger wave of adopters who don’t have access to overnight charging, better charging infrastructure, more robust batteries and longer vehicle range are key concerns.