The range of electric cars has significantly improved over time, alleviating range anxiety for potential buyers. In the past decade, the average range of electric cars has more than tripled, providing consumers with a wider selection of options. Previously, small-battery city drives were the only choice, and finding charging points for longer trips was a challenge. However, with the evolution of the electric car industry, the market now offers a variety of models, ranging from small, two-seater convertibles to large four-wheel drives. The average range of electric cars has almost tripled since 2010, reaching approximately 220 miles in 2021, surpassing the average distance covered by drivers on a daily basis. This expansion in range, along with the increase in the number of electric car models available, has contributed to the growth of the electric vehicle market. With the continuous improvement of technology and decreasing prices, the transition to electric cars is predicted to happen faster than expected.
| Signal | Change | 10y horizon | Driving force |
|---|---|---|---|
| Range of electric cars has tripled since 2011 | Increase in electric car range | Electric cars will have even longer ranges | Advancements in battery technology |
| Increase in variety of electric car models | Increase in options for electric cars | More diverse range of electric car models | Market demand for different types of vehicles |
| Distribution of electric cars on the market | Shift in distribution of car models | More models available with varying ranges | Market competition and consumer preferences |
| Median range of EVs increased 3.5-fold since 2011 | Increase in median range of EVs | Median range of EVs will continue to increase | Continuous improvements in battery technology |
| Increase in number of electric car models | Expansion of electric car market | More than 70 models available, with 187 upcoming | Increasing consumer demand and competition |
| Increase in maximum range of EVs | Significant increase in maximum range | Maximum range of EVs will continue to rise | Technological advancements in battery capacity |
| Transition to electric cars will happen faster | Accelerated transition to EVs | Wider adoption of electric cars in the market | Decreasing costs and environmental awareness |
| Improvements in charging infrastructure | Better accessibility to charging | Increased convenience for EV owners | Growing infrastructure development |
| EVs becoming more practical for apartment owners | Increased convenience for apartment | EV ownership becoming more feasible for apartment | Advancements in charging infrastructure |