Many automotive experts over the years have stated that electric cars may not be the future of mobility as proposed by governments. Now, recently providing strength to this statement, a new study has been done. This study reveals that one out of every two EV owners is thinking of switching back to ICE cars. This is a huge revelation, as over the last few years, almost every government has pushed to increase the number of electric vehicles in their countries.
According to a recent study by McKinsey & Co., it has been revealed that 46% of American EV owners are considering a return to internal combustion engine (ICE) vehicles. This was found out after these owners were asked about which car they would be more inclined to buy next.
Findings of the McKinsey Study
As per the reports, the primary reason behind this potential shift back to fossil fuel-powered cars is the inadequate public charging infrastructure. Dr. Philipp Kampshoff, leader of McKinsey’s Center for Future Mobility, stated that this finding is a surprise.
He highlighted the complexity of the reality that many EV owners face. Kampshoff stated that the slow rollout of charging stations has left many regions underserved. Currently, only 9% of study participants expressed satisfaction with the current public charging network.
Another one of the biggest reasons behind the switch back to ICE vehicles is the high ownership costs and limitations associated with long-distance travels. Nearly half of U.S. EV owners at the moment are reconsidering their next vehicle purchase due to these factors.
Kevin Laczkowski, a senior partner at McKinsey, also highlighted that there is unprecedented uncertainty in the market. This means that automakers will now need to make investments in multiple technologies apart from putting their resources into EV technology development.
Apart from the USA, this study was also done globally. It surveyed over 30,000 consumers across 15 countries, representing more than 80% of the global sales volume. From the study, it was found that 29% of EV owners worldwide are likely to switch back to gasoline vehicles.
Once again, charging infrastructure concerns are prevalent. Around 21% of global respondents stated that they have no interest in switching to an all-electric vehicle. Additionally, 33% of these cited inadequate charging infrastructure as a critical issue.
Apart from this, the study also revealed that the electric vehicle range demand is also increasing among consumers. McKinsey’s data shows that the minimum range expectations have risen from 270 miles in 2022 to 291.4 miles in 2024. This trend suggests that buyers are looking for EVs that can support longer journeys without frequent recharging.
Positives from this study
Now, apart from the negatives, there is also a positive trend towards electrification among non-EV owners. This study indicates that 38% of non-EV owners worldwide would consider purchasing a plug-in hybrid (PHEV) or an EV for their next vehicle. This marks an increase of 1% from two years ago.
Why EV Owners Are Considering a Return to ICE Cars?
Now, most of the readers must have understood why these electric car owners are looking to buy an ICE vehicle as their next car. However, there are a few more reasons apart from the ones that you may have already understood. So, without any further ado, let’s jump right into them.
Inconvenience of Charging
For many EV owners, the inconvenience of charging is a significant reason to opt out of EVs. Home charging remains a challenge for most, and even when available, it doesn’t solve the issue of long-distance travel.
EVs are generally seen as city cars that are only suitable for short commutes and are problematic for highway use. This is particularly true in countries like India, where the charging infrastructure is still developing.
For instance, owners of the popular Nexon EV have reported issues with breakdowns and range. This highlights that EVs are currently more suitable as second cars rather than primary vehicles. However, most people cannot afford to own two cars, making EVs a less practical choice for many.
Need for Prior Planning
With electric cars, unlike filling up a fuel tank, charging an EV requires prior planning. Charging stations are not as quick and easygoing as petrol stations. The process of charging takes significantly more time. This lack of convenience makes EVs less appealing for those who prioritize spontaneous plans and flexibility in their travel plans.
High Initial Costs
In countries like ours, which are still developing, the high initial cost of EVs is another significant barrier. In purely financial terms, EVs make sense primarily for those who drive extensively, as the cost savings from fuel and maintenance become apparent only over longer distances.
For those who drive just 20 kilometers a day, the high upfront cost of an EV does not justify the investment. So, many car buyers in India believe that the financial rationale for owning an EV is still not valid.
Sustainability Concerns
While EVs are promoted as a sustainable alternative to ICE vehicles, there are other studies that have reported that this might not be the case. Currently, there are numerous ongoing questions about the overall environmental impact of electric vehicles.
The recycling of EV batteries, the environmental cost of battery production, and the source of electricity used to charge EVs are all factors that make the sustainability of EVs a complex issue.
Many studies have pointed out that the production and disposal of EV batteries pose significant environmental challenges. Hence, there is a lot of doubt about the green credentials of electric vehicles.