Over half of drivers concerned their EV will run out of charge on journeys
Research from Kalibrate shows that, despite growing levels of EV ownership among consumers, more than half (57%) of electric vehicle drivers are still nervous about running out of charge.
According to The Electric Opportunity research from Kalibrate, which maps the evolving habits, traits, and needs of electric vehicle drivers globally, more than a quarter of prospective EV buyers are worried about the complexity of charging and range anxiety (27%), listing both as barriers to purchasing EVs.
For businesses, the findings point to a unique opportunity to address drivers’ range anxiety and better adapt to their changing habits. Over a third (35%) of drivers say it would be useful to have access to EV charging at shopping venues and well over eight in 10 (86%) of retailers consider EVs and EV charging as a future revenue-driver for their business.
To help businesses get to grips with the EV landscape and how they can create strategies to capitalize on the growing EV ownership, Kalibrate has brought its location intelligence expertise to a new EV focused solution.
Kalibrate’s solution will put data-driven insights and analytics at the heart of clients’ decisions about how, when, and where to invest in an EV charging network, offering businesses access to data on EV drivers, EV adoption, supply, and current and future demand with map-based visualization.
The solution also provides segmentation data to help retailers create a compelling offering to maximize the value of the relationship with their EV customers. When creating an EV strategy, Kalibrate’s solution will enable clients to quickly identify locations that represent the biggest opportunity.
With the research showing that two-thirds (66%) of drivers use their EVs for journeys of between 90 minutes and three hours at least once a week and 52% of drivers using their EVs for journeys of over three hours at least once a week, the new solution will help organizations to uncover travel patterns and hotspots, informing where to build charging stations that offer the best ROI potential
Commenting on the findings, Anila Siraj, Head of Data Strategy ― and EV lead at Kalibrate ― said: “As we move towards the mass adoption of EVs, retailers need to ensure they have all the insights and data needed to make an informed decision about how, when, and where they should invest in their charging network. Many companies are already beginning to take advantage of the opportunities of introducing EV charging to their businesses.
“The retailers that attract EV drivers to their locations will be able to tap into an entirely new revenue stream ― and a sustainable business model, in a future where governments want to reduce their carbon footprint.”
Over two-thirds (67%) of drivers think more positively of a shop or business that offers EV charging for customers, and 59% of businesses want to attract more EV drivers to their business.
“Investing in charging space can give retailers a position of strength as EV adoption continues to gather pace ― in fact, businesses will soon realize that having no charging offering may be a missed opportunity, reputationally and financially. Retailers must build a business case for EV based on data, if they’re to be ready for the future,” added Siraj.
To learn more about Kalibrate’s EV solution, visit the product page here.
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Kalibrate conducted a survey of 1,433 consumers and 520 retail business stakeholders over 10 countries: UK, US, Germany, India, Canada, Norway, Finland, Denmark, Sweden, and Iceland.
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