46% of U.S. EV Owners Considering Switch to ICE

A recent McKinsey & Co. study reveals that 46% of U.S. electric vehicle (EV) owners are considering switching back to internal combustion engine (ICE) vehicles, primarily due to insufficient charging infrastructure and high ownership costs. Globally, 29% of EV owners share this sentiment. While EV adoption continues to grow slightly, with those considering an EV for their next purchase rising from 14% to 18% from 2021 to 2024, there remains significant skepticism. Plug-in hybrid electric vehicles (PHEVs) are gaining traction, particularly in Europe and China, as they offer a bridge between traditional and fully electric cars. Despite the challenges, a significant portion of ICE drivers is contemplating switching to electric or hybrid vehicles in the future.