Startline Motor Finance reveals tipping point for EV switch
New research from Startline Motor Finance has revealed that 72% of motorists would switch to an electric vehicle if it offered 250 miles of range and charging times of five minutes.
It’s May Used Car Tracker found that 36% of respondents said five minutes charging time is almost as fast as refuelling with petrol and 34% said it meant they wouldn’t need a home charger.
Paul Burgess, CEO at Startline Motor Finance, said: “The promise of an electric car that can be powered with the convenience of a petrol equivalent clearly strikes a chord with many potential buyers, our research shows.
“Being able to pull up to a charger and add 250 miles of range in moments would remove the need for a home charger, especially important for people who don’t have the space to install their own, and promises to make the whole process of highway charging much simpler.”
Charging fears
However, the analysis also found that 15% believe power from chargers this fast will be expensive while 12% say that building a charging network of this speed would be difficult.
Burgess said: “We have, of course, yet to see BYD’s charging in action and it is comparatively rare to see chargers rated at over 300kW in the UK, never mind the 1,000kW that five-minute charging demands. Our most powerful public chargers offer less than half that capacity.
“Delivering this step change would require a massive investment in infrastructure and motorists are probably correct in assuming that this kind of power would be expensive to install and to access.”
