Energy prices cooling EV demand
- 28 September 2022
- Posted by: Alan Feldberg
- Category: News
Surging energy prices is dampening demand for electric vehicles.
An AA survey of 12,500 drivers showed 63% of respondents said the increase in home electric bills was contributing to their decision to stick with petrol or diesel cars, while 10% stated it was the main reason for not making the switch to electric.
This comes after the RAC revealed that the cost of charging an electric car using public charge points has risen by 42% in just four months, and now costs almost the same as filling up at a petrol station. It said the average price for using car chargers has increased by 18.75p per kilowatt hour (kWh) since May, reaching 63.29p per kWh.
Nawaz Haq, executive director at British fuel tech company SulNOx Group, said: “We have said all along that fossil fuels will continue to play a major part in powering our cars and providing our energy needs for years, even decades, to come. That may be an inconvenient truth for some, but it is a truth nevertheless.
“Recently, Halfords research showed that the average age of a car is 8.7 years, about a year more than it was a decade ago. It is expected to pass the nine-year mark very soon and could creep above 10 years before the cost-of-living crisis eases. Petrol and diesel cars are still around and their reliability means they will be around for longer than before, so something must be done to tackle the emissions from them.”