Energising electric vehicle sales: how to reach customers beyond the early adopters

In April 2019, Tesla announced that it lost US$702m in the first quarter of 2019, selling 31% fewer vehicles than the prior quarter. A reduction in tax credits and falling demand for high-end models contributed to Tesla’s declines, but Tesla is not alone in slowed sales of electric vehicles (EVs). Many automakers and dealers are seeing stagnating or slower-than-expected sales of electric cars, even as automakers introduce new EV models.

EVs represent just 1% of new passenger vehicle production globally, a number we expect to reach only 10% by 2030. For all their promise as the car of the future for consumers and industry alike, the adoption of EVs does not match their electrifying initial acceleration. Why?