ANALYSIS: Charging, Resale Among Added Hurdles Slowing EV Adoption

The near-term challenges of mass EV adoption inevitably begin with price, but a recent cold snap has re-emphasized battery and charging snags.

A woman prepares to charge her Tesla in Ann Arbor, Michigan, on Jan. 17, 2024. A cold snap across the United States and Canada has exposed a big vulnerability for electric vehicle owners. AP Photo/Carlos Osorio

The near-term challenges of mass electric vehicle (EV) adoption inevitably begin with price, but a recent cold snap has re-emphasized battery and charging snags. In addition, as prices for new EVs trend down, new buyers also have to consider potentially lower resale values.

Tom Narayan, lead equity analyst covering global autos at RBC Capital Markets, told BNN Bloomberg on Jan. 31 that the EV market is going through a bit of a slowdown.