Cox Automotive Mobility white paper explores post-COVID-19 EV market

(September 21, 2020) ATLANTA — While the electric vehicle (EV) market will take a hit in 2020, it will be more of a stall out than a vanishing act. Electric adoption is inevitable, but its pace is a big question. The latest white paper from Cox Automotive Mobility — titled "COVID-19 Recovery: Speed Bump or Accelerant for the EV Market?" — addresses the tailwinds, headwinds and whirlwinds impacting the EV future in the wake of the pandemic.

"While we may experience a short-term dip in EV growth due to COVID-19, many factors set a course for a positive long-term trajectory," said Lea Malloy, head of research and development, Cox Automotive Mobility. "Ultimately, cross-industry collaboration will facilitate EV advancement and consumer adoption. At Cox Automotive, our goal is to enable this new market in support of a closed-loop service ecosystem together."

The following core themes are highlighted in the white paper:

    •    Real and Perceived Costs are Major Roadblocks — From understanding maintenance costs and battery life to the availability of incentives, education is paramount to driving EV interest for both consumers and fleets.

    •    Charging Infrastructure is Big Bottleneck — Access to EV charging nationwide will continue to play a critical role in consumer purchase and adoption, as well as the transition to an all-electric fleet future.

    •    Averting Unintended Consequences — The industry needs to move quickly to advance capabilities to extend battery first life and provide appropriate end-of-life options to protect our communities and the environment – a belief consistent with Cox's long-term commitment to sustainability and driving positive change for our planet.

Supported by various industry resources, as well as  Cox Automotive research and market intelligence, including the 2019 Cox Automotive Evolution of Mobility Study: The Path to Electric Vehicle Adoption and ongoing COVID-19 Impact Study, this detailed report concludes with a perspective from Cox Automotive Mobility on the key opportunities to drive EV adoption and growth.

    •    Battery health and certification capabilities. Evolve existing partnerships with traditional and new EV OEMs by providing battery health and certification services.

    •    Standardization where possible. From cells to packs, to transport packaging to charging infrastructure –standardization can simplify EV battery production, ownership and service experience and reduce costs.

    •    Consumer education. Continuous and up-to-date education on electric vehicles for purchase and in-life support; easy EV shopping experiences.