Supply challenges deterring EV buyers, B.C. Hydro survey finds

Supply shortages are deterring prospective electric vehicle buyers in B.C., according to a new report from B.C. Hydro. But interested customers should hang on because improvements in production and the introduction of newer models such as SUVs and light trucks mean more EVs will be available on the market starting next year, it said.

“Many British Columbians are currently searching for an EV to buy,” said B.C. Hydro spokesman Kyle Donaldson in a statement. “Of those who are actively searching, 41 per cent describe the EV buying process as difficult, but there is reason to be optimistic as new research from an independent automotive analyst shows EV supply chain issues will begin to ease by 2023, with supply close to fully meeting demand by 2026.”

The report, released Friday, found that 34 per cent of British Columbians interested in buying an EV were hesitant due to lack of availability.

Despite waiting times at car dealerships ranging from a month to over a year, 16 per cent said they have joined a waiting list, while seven per cent have joined multiple lists. Five per cent have put a deposit down on more than one EV.

The lack of supply is forcing would-be EV drivers to consider other options, such as looking into buying an EV outside of B.C. (15 per cent) or inquiring about buying an EV from a friend, family member, or neighbour (13 per cent). About a tenth reported settling for a colour they didn't want or lack of features they wanted just to get an EV sooner. One per cent said they had even got into a fight with another EV buyer.

Respondents attributed the rising demand in B.C. to higher oil and gas prices (85 per cent), increasing environmental concerns (65 per cent), the availability of more makes and models (51 per cent), and the perception that owning an EV is trendy (46 per cent).

According to a report by independent research firm Vision Mobility for B.C. Hydro, the supply chain crunch will begin to ease by 2023 with supply close to fully meeting demand by 2026.

More than 45,000 EVs will be available in 2023 compared to about 30,000 in 2022, it said. By 2026, it forecasts that EVs could make up half the market share in B.C. and 25 per cent of the market in Canada, with 118,000 vehicles available.

“This growth will be driven by improvements in microchip and battery production as well as the introduction of new models, particularly pickup truck EV variants of the top three selling models in Canada: The Ford F-150, Dodge RAM and Chevrolet Silverado / GMC Sierra,” said the B.C. Hydro report.

The Crown corporation said it plans to install 325 fast chargers at 145 sites across B.C. by the end of 2025.

It recommended that people who want to buy EVs plan in advance, get on multiple waiting lists and consider buying a used EV.