After more than a century of dominating the world’s roads, it seems the era of the internal combustion engine is drawing to a close. The increasingly apparent effects of climate change are forcing countries around the globe to do something they should have done a long time ago — replace fossil fuels with clean, renewable sources of energy. But although several territories are investing plenty of resources into phasing out internal combustion engine (“ICE”) cars for zero-emission electric vehicles (“EVs”), insufficient charging infrastructure has hindered mass EV adoption.
Still, plenty of drivers have ditched their fossil fuel-powered vehicles for EVs, especially those who have access to reliable public charging infrastructure and/or can afford to and have the space to install home chargers. According to a new survey by global analytics company J.D Power on electric vehicle charging options in the United States, most of these drivers prefer to use Tesla (NASDAQ: TSLA), Volt and Chargepoint chargers when they are on the road. Dubbed the 2021 US Electric Vehicle Experience Public Charging Study, this is J.D Power’s first-ever study of its kind.
An estimated 6,650 owners of plug-in hybrids and battery electric vehicles (“BEVs”) were surveyed from January to June. They were asked several questions about their experiences with public chargers including how easy it was to locate the charging stations. They also answered questions regarding charging speed, ease of use, cost of charging, convenience and hygiene of the station, the safety of the location, availability of the chargers, and whether they had anything to do while they waited for their EVs to charge. J.D Power found that among most American EV owners, availability of charging infrastructure varied based on region and that charging was one of the least enjoyable aspects of going electric.
Respondents said the lack of reliable public charging options frustrated them and even when they did have access to charging infrastructure, they were often put off by long lines and service charges. Brent Gruber from J.D Power says that conversely, EV owners were satisfied when they weren’t met with long lines, the charging was free and the station offered them things to do while they waited. As such, he says, the nascent EV industry will require a lot of investment in public charging infrastructure to make EVs more feasible to skeptical drivers.
Tesla was the most popular charging option, with its DC fast-charging Superchargers and Level 2 Destination charging stations ranking the highest in terms of customer satisfaction. Tesla’s Destination chargers are usually installed in hotel parking lots and, although they specifically are designed for Tesla owners, drivers of other EV brands can access them using a special adapter. Volta’s free charging stations, which are accessible to all BEV models, ranked second behind Tesla in the Level 2 charger category while Chargepoint ranked second behind Tesla in the fast-charging category and third behind Volta in the Level 2 category.
These glaring gaps in the existence of acceptable charging infrastructure provides food for thought for companies such as DSG Global Inc. (OTCQB: DSGT), which operate where technology intersects with various industries, such as the EV industry. Strategic investments in this direction would likely yield nice returns for companies that move fast.
NOTE TO INVESTORS: The latest news and updates relating to DSG Global Inc. (OTCQB: DSGT) are available in the company’s newsroom at http://ibn.fm/DSGT
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