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Innovation

Will drivers ever embrace the electric car?

Surveys have suggested people will want electric cars when the technology becomes cost efficient. But is it enough?
Written by Tuan Nguyen, Contributor

Every now and then a big name automaker dazzles the public by unveiling a electric car concept that it confidently feels represents its vision of the future. Last year, it was Jaguar showing off the C-X75. And just last week, BMW gave us all a tantalizing glimpse of their latest model, the i3 sports car. Yet despite all the hoopla surrounding each of these announcements, the fact remains that consumers simply aren't ready to ditch their gas guzzlers.

So if sexier electric cars aren't enough, just what will it take? Surveys have suggested that the turning point may occur when the technology becomes cost efficient compared to all the other transportation options out there. For instance, back in April, the consulting firm Deloitte surveyed 12,000 people, 1,000 of which were Americans, and found that 78% of Americans would consider buying an EV if gas prices reached $5 a gallon.

Now a new study conducted by the Harvard Kennedy school of government puts the dollar figure closer to $4.50, which means we might be near the tipping point. Drivers in Chicago, where gas is most expensive, are already filling up at a rate of 4.07 a gallon. So just about any day now we should see EVs flooding the streets, right?

Numerical price points are alluring because they do a nifty job of simplifying matters, but they also often belie the fact that there are, of course, numerous caveats (as is the case with so many of these reports). The study's authors reached this magical number by conducting a long-term analysis of purchase, operations, and maintenance costs to determine at which point would electric vehicles be competitive with conventional ones. But this includes taking into account the expectation that EVs will offer a much improved per-charge driving range and are much less expensive then they are now -- selling points that may still be a long time coming.

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