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20 PCB007 MAGAZINE I MARCH 2021 Is Mass Consumption Possible? What Will It Take? As history has proven, there comes a time when innovative technology reaches a pinnacle. It is generally assumed that EVs are on the path toward market dom- inance, and with that, mass con- sumption must ensue. Accord- ing to recent surveys, it is esti- mated that the mass consum- er conversion for purchasing an EV would be $36,000. at being said, three of the best-selling EV base models are essentially there already. So, if price is not hold- ing sales back, what is? Consum- er research shows effective travel range must be considered; for the average con- sumer to consider an EV purchase, the battery power must last roughly 300 miles. So, if battery charge is limiting the range ability of these vehi- cles, why not just develop a bigger battery? Of course, it's possible, but inevitably the cost of that battery would increase the cost of the ve- hicle, again slowing down mass consumption. Cost and range are closely linked, as the battery is directly related to the largest cost of the car. Let's look at an example. In 2013, the average cost of a base model Tesla 3 battery was rough- ly $23,000—two-thirds the price of the vehicle. Now, with current battery technology advance- ments, the same battery pack costs $7,000. In- dustry experts project that in less than two years, the cost of most EV batteries for base models will be down to nearly $5,000. is will drastically reduce the cost of EVs as a whole. But the question remains: What is keeping consumers from buying electric vehicles? e research shows that consumers are, first and foremost, concerned about charging. Availability of Chargers Market research suggests the average EV re- quires a minimum of 30 minutes to charge from zero to full. Tesla Model 3 has the fastest charge redesigned Prius in 2003. Finally, the consum- er demand for EVs met market expectations. Consumer sales surpassed monthly sales tar- gets more than 100%. But again, these vehi- cles were driven by the elite and high soci- ety celebrities. In 2006, Tesla Motors, a mere startup company from Silicon Valley, prom- ised to deliver a vehicle with the luxury feel of a sports car, combined with a range of 200+ miles. In 2008, that dream became reality when Elon Musk, chairman of Tesla, debuted the first Tesla Roadster. is sent shock waves through the automaker industry as consum- ers flocked to EVs in greater numbers than ex- pected. As a result, the automotive industry's heavy hitters transformed their businesses and be- gan investing billions of R&D dollars into the future of electric vehicles. Sales skyrocketed from 450,000 units sold in 2015 to 2.1 million in 2019. Although these rates dropped in 2020 due to COVID-19, current projections contin- ue to show an exponential increase in sales as energy density improves, EV infrastructure in- creases, and battery prices fall. So where has the industry gone and how do we continue in- novation? e answer is short and sweet: mass consumption. Evolution of the ratio between global sales of battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) between 2011 and 2020. (Source: Mariordo, Wikimedia)