Global demand for electric vehicles slows due to charging infrastructure concerns [Video]

Global demand for electric vehicles has slowed as concerns about a lack of charging infrastructure growth, according to the latest EY global mobility consumer index.

The report, based on the responses of more than 20,000 people in 28 countries, shows that demand for EVs is levelling off after nearly doubling since 2020

The proportion of respondents looking to buy an EV has risen from 55% to 58% since last year after jumping from 30% to 55% from 2020 to 2023.

High fuel costs (37%), environmental concerns (34%), and taxes on internal combustion engine vehicles (23%) were the top motivations among consumers for wanting to purchase an EV.

However, 27% of respondents cited a lack of charging infrastructure as their primary concern, while 25% said they are worried about the range of EVs, and 18% claimed that EVs take too long to charge.

For the first time, the latest study has also identified apprehensions around the high cost of battery replacement, …