2022 E-Mobility consumer analysis - Overcoming range anxiety: Consumers weigh in on acceptable EV charging time and range

To understand consumer sentiment toward IHS Markit forecast technologies, the Battery, Charging, and Consumer Insights research teams conduct an annual consumer survey that serves as a quantitative input to the forecast. By asking hybrid/EV owners and intenders a series of questions to gauge buying decisions, charging time and method preferences, willingness to pay for charging, and brand influences, our analysts are able to develop indices related to consumer confidence and willingness to pay that are then factored into component forecasts.

The 2022 IHS Markit E-Mobility Consumer Survey asked nearly 8,000 participants around the world questions regarding electric and hybrid vehicles to understand consumer sentiment around electric/hybrid buying decisions, charging preferences and willingness to pay, and general interest in the respective technologies. Results showed respondents were willing to accept a minimum vehicle range for electric vehicles (EVs) that was less than standard internal combustion engine (ICE) vehicles. Globally, consumers are interested in the concept of battery swapping as an alternative solution to traditional charging and are willing to pay a slightly higher price point when compared with both low-speed and high-speed charging scenarios.