Think Survey Finds Potential EV Customers Would Trade Range for Price

Think City All-Electric Vehicle

Electric car maker THINK released results of a customer survey that found that 50% of potential EV buyers responding would be willing to accept 70-80 miles range if it reduced the cost of the vehicle by $5,000. The online survey was conducted by a team of MBA students from University of Michigan Ross School of Business.

One hundred miles range has long been considered a customer requirement for full-functioning, highway-capable electric vehicles.

The survey also indicated that potential electric vehicle customers would be willing to pay more for extended range. Fifty-five percent of the respondents indicated that they would pay a $5,000 premium for an electric vehicle with 150-160 mile range. Only 9% of potential customers said they were interested in reducing their range below 50 miles for a greater discount.

Offering different sizes of batteries for different customers is an intriguing idea. Customer support for it will likely grow as fast charging technology becomes more widespread.

—Richard Canny, THINK CEO

The THINK City electric car, being sold in Europe today and coming to the United States later this year, has a range of 100 miles on a single charge. The company announced in January that it was working with AeroVironment, a leading developer and supplier of electric vehicle charging infrastructure, to promote fast changing project using AV’s level III fast-charge system and the THINK City electric vehicle.

A total of 367 consumers completed the survey.