How will EVs progress from early adopters to the mainstream?

At the UK Society of Motor Manufacturers and Traders’ (SMMT) Electrified 2023 event, held on 19 September, Chief Executive Mike Hawes referenced John F Kennedy’s 1962 speech at Rice University concerning the importance of the space race. At that time, the former US president stated: “It is one of the great adventures of all time, and no nation which expects to be the leader of other nations can expect to stay behind in the race.” The same, Hawes suggested, now applies to electrification.

However, several factors are making it difficult to transmit the long-term importance of this vision. Data released in April 2023 by the European Automobile Manufacturers' Association (ACEA) found that high entry costs were prohibiting electric vehicle (EV) uptake in 22 of the EU’s 27 member states. A similar situation is holding back the UK—a September 2023 consumer survey conducted by Electrifying.com found that 87% considered EVs too expensive, up from 81% the previous year.

Managing Director of Volkswagen Group UK Alex Smith opined that it was incumbent on the automotive industry “to launch products consumers will find compelling and create a positive electrification narrative.” But what will provide a solid foundation for progress as the industry seeks to push EVs firmly into the mainstream?