Survey shows that electric-vehicle buyers willing to sacrifice range for price
If the price was right, would you be willing to accept an electric-vehicle that had less than a 100 mile range? According to a recent study by electric-car maker Think and a team of MBA students from University of Michigan Ross School of Business, many potential electric-vehicle customers say yes.
100-mile ranges have long been considered a customer requirement for full-functioning, highway-capable electric vehicles. However, the survey conducted by Think found that 50 percent of the respondents would be willing to accept 70-80 mile ranges, if it reduced the cost of the vehicle by $5,000.
Vice-versa, the survey also found that 55 percent of the respondents indicated that they would pay a $5,000 premium for an electric vehicle with 150-160 mile range. Only nine percent of potential customers said they were interested in reducing their range below 50 miles for a greater discount.
“Offering different sizes of batteries for different customers is an intriguing idea,” said Richard Canny. “Customer support for it will likely grow as fast charging technology becomes more widespread.”
The Think City electric car, being sold in Europe today and coming to the United States later this year, has a range of 100 miles on a single charge. It can hit speeds of up to 68 mph.
– By: Omar Rana
