New EV Research (It’s Not Just About Tesla)

Empowering the EV Future and Shaping Charging Station Experiences

New EV Research (It’s Not Just About Tesla)

Estimated Read Time: 2 - 3 Minutes

In the current EV-dominated discourse, it’s not just Tesla taking the spotlight. Major players are putting a stake in the ground, publicly proclaiming an “all electric” future in as little as 5 years. Exxon’s stock dropped in half last year, and Elon Musk is hosting SNL episodes.

Related: What Do Retailers Have To Do With Electric Vehicles? How Anyone Can Be a Leader in the EV Space

Biden’s Climate Plan: Paving the Way

President Biden’s $1.7 trillion climate plan includes a pivotal move—extending a $7,500 tax credit for EV buyers and allocating $5 billion to establish 500,000 charging stations by 2030. These massive infrastructure advances are projected to spark the sale of as many as 25 million electric vehicles.1

Charging Infrastructure Challenges

Despite these strides, a critical question looms: Are there enough charging stations for the projected places to charge 25 million EVs? The average consumer is not equipped to handle charging at home, and a quick drive through city streets unveils a scarcity. It’s creating what is known as “charging anxiety” – the lack of accessible stations outside of the home – and could become a real problem for EV owners.

The Inconvenience of EV Ownership

As noted in a recent New York Times article on the rise of EVs: "Right now it can be inconvenient to own an electric vehicle if there are no charging stations around. But if we do get to a world where there are charging stations everywhere and few gas stations around, suddenly it's less convenient to own a conventional vehicle" 2

We’re optimists by nature, and where one might see a challenge, we see an opportunity. We're also quite fond of turning to the customer and getting their opinion given they're the ones that are so often driving the change in our industry. In a very recent study (read: this is hot off the presses), we asked 1,750 people to share a few quick opinions on Electric Vehicles and the role of the illusive charging station. What did we learn?

Consumer Insights: Shaping the Future

In a recent study, we asked 1,750 people to share a few quick opinions on Electric Vehicles and the role of the illusive charging station. What did we learn?

Embracing EVs with More Charging Stations

An impressive 72% of all respondents expressed a willingness to purchase an EV if more charging stations were available!

72% of people said they would purchase an electric vehicle if there were more chargin stations.

We asked them to imagine owning an EV. Clearly, people aren’t interested in going to the car dealership every time they need a charge, but would they be interested in shopping at a particular retailer that offered charging stations? Over 75% said yes, they would.

75% of people said they would shop a specific retailer if they offered more electric vehicle charging stations

Beyond Charging: Crafting Experiences

OK cool, so they want more charging stations, and they’d like to go shopping while their car is charging, what else might they want out of an EV charging station? Well, we can tell you – 30% expressed interest in food & beverage options, 15% would like repair services, 14% favored retail offerings, 11% desired entertainment (gaming station anyone?), and 31% wished for a comprehensive experience – an amusement park charging station for all!

Seizing the Opportunity

What does all this mean? There’s opportunity. An opportunity not only to create charging stations for the potential massive demand that is coming but an opportunity to bring an experience alongside it. Our team is already working towards defining and designing the “charging station of the future.” Are you ready to be a part of it?

About Wayfind

Lost and in need of guidance? That’s why we created Wayfind—the WD blog designed to be your beacon in this rapidly evolving world. In these short, thought-provoking reads, you’ll discover insights into the minds of your consumers and be inspired to go out into the world to create your own extraordinary experiences.

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