Addressing manufacturing, though, is just one piece of the puzzle. Targeted investments should be expedited to encourage a growth in EV consumers as well. According to the International Energy Agency, the U.S. represented only 2 percent globally of new EV sales, trailing behind Europe, at 10 percent, and China, at 6 percent. This lag can be attributed partially to range anxiety compounded by a dearth of charging infrastructure. In fact, a 2021 survey shows that 65 percent of responders answered that more charging stations available in their area would be a strong enticement to buy an EV. As a result, without equitable and abundant access to charging stations, EVs could potentially be too cumbersome to bear for some consumers.
Fortunately, the future looks promising, but momentum will need to be maintained. In December, more than 50 U.S. utilities joined as the National Electric Highway Coalition to fortify the nation’s charging infrastructure. The coalition aims to form an extensive nationwide EV charging network with the help of funding provided by the bipartisan infrastructure law. Additionally, improvements in battery technologies and efficiency have led to an increase in EV models featuring improved driving ranges.
In all, the industry has made major strides within the past decade, and current efforts that aim to decentralize supply chains and increase appeal will become more imperative to the future of EVs. The path may be challenging but will prove worthwhile to the long-term interests of the grander global energy transition.
