Electric Cars Losing Appeal Among New Drivers: Shell Survey
Nine in 10 current EV drivers indicated they would consider a similar purchase for their next vehicle
Bloomberg News
Electric cars are losing their appeal for new drivers in Western nations, even as existing owners report increasing satisfaction with their battery-powered vehicles, according to a survey conducted by Shell Plc.
The findings show that high upfront cost remains a significant barrier to electric vehicle adoption, with drivers of gasoline-powered cars in both the U.S. and Europe reporting declining interest in making the switch, the survey showed.
“While current EV drivers are feeling more confident, the relatively high cost of owning an electric vehicle, combined with broader economic pressures, are making it a difficult decision for new consumers,” Shell’s Group Executive Vice President of Mobility and Convenience, David Bunch, said in a statement on Tuesday. In Europe, 43 per cent of non-EV drivers cited affordability as an issue.
The growing divide in attitudes toward electric cars emerged in a Shell survey of more than 15,000 drivers across China, Europe and the U.S. The level of interest in switching to an EV among internal combustion engine drivers in the U.S. was 31 per cent, compared with 34 per cent in 2024, according to the survey. Interest from non-EV drivers in Europe decreased to 41 per cent from 48 per cent last year.
Of the countries surveyed, only China saw major gains, with single-vehicle owning EV drivers rising “from 72 per cent to an impressive 89 per cent,” Shell said. The country stands out globally for its significant advances both in the technology and the cost of battery-powered cars.
“It is mind blowing to see what happens when a government is aligned so that the industrial strategy, planning, the markets and energy all line up to back this,” Octopus Energy Ltd. chief executive Greg Jackson said on Tuesday during a panel at a Shell EV event in London. “And suddenly in a very small number of years, China went from essentially no EVs to more than half of sales.”
Globally, nine in 10 current EV drivers indicated they would consider a similar purchase for their next vehicle. About 60 per cent of EV drivers said they worry less now than a year ago about running out of charge, while three-quarters said availability and choice of public charging points has improved, according to the survey.
While Shell has retreated from some of its low-carbon ventures, the company remains committed to EVs and has more than 75,000 charge points across the world. “More must be done to stimulate demand and ensure no one is left behind in the shift to cleaner transport,” Bunch said.
“I think the wake up call for us all should be in what has been the vanguard of EV adoption and energy transition policy, you see a decline,” Bunch said of Europe in an interview. “We can’t just sit here and cross our fingers.”
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