- Infrastructure continues to be the biggest deterrent to public acceptance of EVs.
- Industry leaders consider Toyota to be behind the leaders in EV development.
- Automakers are leading the EV industry, compared with battery manufacturers.
During the Electrify Expo, 78 EV industry leaders in the Motor Press Guild completed a survey about the state of electric vehicles in the United States. Their responses gave an insider look at the current strengths and weaknesses in the industry. Overall, the electric vehicle and its supporting infrastructure has room for growth.
Current Status and Future Impact of Electric Vehicles
More than half of the industry leaders shared the belief that automakers have built some outstanding vehicles, but in general, the EV industry is about ten years away from reaching more drivers. About a quarter of the leaders agreed that the industry is moving quickly and is about five years from taking hold. About twenty percent believe it will take more than 25 years to ramp up the industry
Automakers and lawmakers are leading the way toward pushing electric vehicles forward. The biggest obstacle creating a lag in the success of the EV industry is infrastructure, with misinformation, price, and range anxiety creating reluctance for some drivers.
Tesla Leads the Way
When it comes to EV industry leaders, Tesla is ahead of the pack. Industry leaders see Hyundai Motors Group as having the second largest impact on the industry. Smaller, independent automakers like Lucid and Rivian have an impact, but only at a fraction of Tesla and Hyundai Motor Group. Ford Motor Company is another leader in the EV industry.
Lagging Behind the Leaders
Unfortunately, many major automakers are behind the curve on developing EVs that US drivers want. The biggest disappointment is Toyota Motor Company, followed by Stellantis and Honda. Mazda is lagging behind along with Subaru and General Motors.
Several of the lagging automakers will have fully-electric vehicles arriving on dealership lots in 2024. Honda will feature the Prologue, and General Motors will release the Blazer EV, Equinox EV, and Silverado EV in 2024. Cadillac Lyriq EVs finally arrived on dealership lots in mid-May, so the perception of General Motors and electric vehicles should change quickly. The Toyota BZ4X has also recently arrived on dealership lots but with little fanfare.
What’s Impacting Opinions on the EV Industry
Industry leaders based their opinions on the current product lines of major automakers. They also considered a combination of future products, consumer demand, and the leadership and vision of executives in the auto industry.
EV Industry Survey Charts
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