Survey shows that electric-vehicle buyers willing to sacrifice range for price

Think City electric-vehicle

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