Strategy | automotive sector insights | I turn insights from data into actionable recommendations.
The value part is especially important. The recent volatility in gas prices may once again push folks toward at least considering EVs. But this alone won't be enough. Insurance premiums for EVs have to come down as well as the price of 'fixing' the vehicles when needed. Unless the automotive ecosystem can collectively solve this chicken-and-egg problem (we need more EVs on the road to enjoy scale economies and bring the price of insurance and repair down vs. EV adoption is slow because of high costs of insurance and repairs), many potential car buyers will continue to buy what they already know and are comfortable with, i.e., hybrids or ICEVs. #evtransition #automotiveindustry #roadtomassadoption
This is an iconic "Crossing the Chasm" example! The early adopters have adopted, and now EVs have to break into the mass market through a) good prices, b) a perception of safety, reliability and ubiquity, and c) messaging that is about value and fun, in mass-market advertising channels (rather than technophile messages in niche channels). https://lnkd.in/g5tG_Wnr #EVs Geoffrey Moore #Diffusioncurves #crossingthechasm
