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What is holding back electric cars?
EVs are the next new thing when it comes to auto technology, but it seems like the world is a bit slow in adoption. What is holding back electric cars?
Marlee John · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
There are a number of factors holding back mass electric car adoption including lack of charging infrastructure, fear of change as well as a microchip shortage.
Many drivers are concerned that switching to an EV would cost them too much. The initial price is higher and the infrastructure in many places is not as robust as it would need to be to sustain a majority EV fleet. This aside, there are other factors impacting the adoption of EVs from a manufacturer’s perspective.
COVID-19 seemed to slow a lot of things down, and the auto industry was not immune. In 2020, to stop the spread of COVID-19, many plants were forced to shut down but still despite having reopened the supply is not keeping up with the demand. Industry experts expect the volume of semiconductor availability to increase come early 2023.
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