Interview: Steve Man of Bloomberg Intelligence on U.S. EV Survey

The Clean Energy Show

Electric Vehicles continue to pick up major traction in the US, with adoption continuing to accelerate even amidst growing challenges with charging infrastructure and overall affordability. A new survey from Bloomberg Intelligence found that despite these hurdles to growth, US battery electric vehicles (BEV) penetration is likely to reach 25% by the end of the decade.

We talk to Steve Man, Global Lead Director for Auto & Industrial Market Research at Bloomberg Intelligence and the lead author of this report. He spoke to use from Princeton, NJ where he just bought his first EV, a Chevy Blazer EV.

Applogies for the audio issues, it was a day when nothing was going right.

The survey, conducted with 1,000 prospective auto purchasers, found that 42% of respondents were considering purchasing an electrified vehicle as their next car, with 23% opting for hybrid electric vehicles, in contrast to the current 7% penetration in hybrid electric vehicles. 9% of those surveyed favoring battery EVs, which is higher than the 7% battery EVs penetration last year.

BI’s research shows that prospective auto purchasers who already own an electrified vehicle are incredibly loyal to BEVs, with the report finding that 93% would stick with their current powertrain for their next purchase, compared to 34% of gasoline vehicle owners who are deciding to opt for an electric car. Fuel-type stickiness suggests that EV penetration is unlikely to reverse course as the benefits to an electric vehicle could continue to outweigh costs to current owners; and this continuous preference for EVs is consistent across HEV, PHEV, and BEV owner segments.

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