Thursday, 24 September 2020 21:57

COVID's Impact on EVs a Speed Bump, Not a Stop Sign

Written by Auto Remarketing Staff


The impact of COVID-19 on the electric vehicle market is more like a yellow light than a red light, according to a new whitepaper from Cox Automotive Mobility.

Or as the analysis puts it, the hit to EVs will be “more of a stallout than a vanishing act.”


The company released a whitepaper Sept. 21 titled “COVID-19 Recovery: Speed Bump or Accelerate for the EV Market?” written by Cox Automotive head of research and development Lea Malloy.


“While we may experience a short-term dip in EV growth due to COVID-19, many factors set a course for a positive long-term trajectory,” Malloy said in a news release accompanying the whitepaper.


“Ultimately, cross-industry collaboration will facilitate EV advancement and consumer adoption,” she said. “At Cox Automotive, our goal is to enable this new market in support of a closed-loop service ecosystem together.”


The company explores three key themes in the paper, among other areas.


One of those is the “real and perceived costs”---including maintenance, battery life and incentive availability---and how those are hurdles to overcome.


The paper also explores infrastructure.


“Access to EV charging nationwide will continue to play a critical role in consumer purchase and adoption, as well as the transition to an all-electric fleet future,” the company said in a news release.

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