neil davies cbaf ceo
neil davies cbaf ceo
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SMEs remain to be convinced that electric vehicles (EVs) are the future.

A survey of 900 firms by Close Brothers Asset Finance, conducted in April shows that while 41% think EVs will becoming ubiquitous over time, for 36% it’s “too early to tell”an d for the remaining 23% it’s a definite No.

In spite of the scepticism about the eventual part EVs will play in some quarters, nearly three out of every five respondents (57%) said the vehicles are environmentally positive compared to current options.

Neil Davies, Close Brothers Asset Finance Chief Executive, said: “The recent report by the Transport Research Laboratory stated that only one in four people would consider buying a fully electric car in the next five years.

“Our research shows that while only 30% of those polled had ever driven an electric car, the majority (59%) would consider purchasing an EV if more incentives were available; this figure rises to 73% for London business owners, where the Ultra Low Emissions Zones were recently implemented.”

Inhibiting factors

Range anxiety is often cited as the primary reason for lack of EV uptake and both the lack of public charging points and the cost of vehicles rank higher in respondents’ list of concerns.

Davies added: “As the technology improves, issues with range will become less of factor. While it makes the top three reasons hindering the update of EVs, the lack of public charging points and cost of vehicle’ were first and second.

“Interestingly, nearly 60% of respondents said they would consider purchasing an EV if there were more incentives available.”

Top 10 poinrs hindering the take-up of electric vehicles:

ReasonNo. of responses
  1. Lack of public charging points
482
  1. Cost of vehicles
477
  1. Concerns about battery range
468
  1. Recharging times
359
  1. Cost of installing charging points at home
348
  1. Reliability
257
  1. Maintenance costs
198
  1. Lack of models to choose from
146
  1. Conflicting and confusing information about EVs
138
  1. Cost of insurance
97
READ  Strong uptake for Lex Autolease EV offer

 


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