Their latest research report, Affording Sustainability, surveyed 2,000 people to explore what’s holding back the shift to EVs.
Unsurprisingly, the biggest hurdle is the initial cost, with 68% of respondents citing it as a key reason for not making the switch. While this is a well-known barrier, the growing availability of more affordable entry-level models is slowly driving prices down. The rise of the used EV market is also making a significant impact, with The Electric Car Scheme reporting that used vehicles now make up half of its sales since adding them to their offerings.
Range anxiety remains a concern for 40% of Brits, but with 6,000 new public chargers installed in the first three months of 2024 alone, the issue is easing. Battery tech is also improving rapidly. Chinese EV firm Zeekr recently announced batteries that can charge from 10% to 80% in just 10 and a half minutes at ultra rapid stations. Data from The AA shows it’s becoming rare to run out of charge, with only 1.4% of breakdowns caused by an empty battery—almost on par with petrol or diesel.
Running costs are a worry
Running costs are still a worry for 34%, but EVs generally offer cheaper running costs compared to petrol cars. According to The Electric Car Scheme, as of July 15, petrol drivers had already spent as much on fuel as EV owners would spend on charging for the entire year.
Battery reliability concerns 31% of potential EV drivers, but this issue is often exaggerated. ClearWatt’s data shows that with careful charging, batteries lose only 5% of performance after seven years and 85,000 miles. However, they noted one case where a specific EV, frequently rapid charged to 100%, saw 30% degradation in just three and a half years.
ClearWatt co-founder Patrick Cresswell explained: “Electric vehicle battery degradation varies significantly depending on usage patterns and thermal management… While most modern EVs maintain battery health well, outliers do exist, usually linked to how the vehicle has been treated.”
Thom Groot, CEO and co-founder of The Electric Car Scheme, added: “We have reached the stage in EV technology and infrastructure where the old concerns are becoming less and less important and, in fact, many of them have become myths or at least misconceptions… The main concern is, instead, affordability, which was the biggest barrier for 68% of Brits, way out in front of any concerns around range, reliability or resale value.”
He continued: “This is why we started The Electric Car Scheme, to make EVs more affordable and help increase uptake ahead of the phase-out of traditional cars. It’s also why our used EV proposition has been so popular, now making up half of our sales. When EVs are cheaper up-front than petrol cars, it’s a no-brainer to make the switch.”
Image: The Electric Car Scheme