A recent report by the Boston Consulting Group indicates that the Hyundai IONIQ 6 stands out as the sole electric vehicle (EV) in the U.S. market, meeting the median price, range, and charging criteria desired by potential buyers. Surveying 3,000 consumers, the firm found that requirements for mainstream EV adoption include 20-minute charging times, 30-minute detours for fast-charging stations, a range of 350 miles, and a price of $50,000. Equipped with fast-charging technology, the Hyundai IONIQ 6 can charge from 10% to 80% in just 18 minutes and 30 seconds and travel approximately 361 miles on a single charge. Starting at $38,615, the 2024 model is $4,100 cheaper than its predecessor.
Following closely is Tesla’s Model 3, which starts at $38,990 with a range of up to 272 miles. The Long Range model starts at $47,740 with a range of up to 341 miles.
According to BCG research, while only 6% of surveyed consumers currently own an EV, 38% intend to purchase one as their next vehicle, with an additional 27% considering it for the future. However, meeting customer expectations will require support from policymakers and the charging infrastructure. BCG projects that EV sales could constitute up to 30% of U.S. sales when next-generation EVs reach full production, with a more realistic estimate placing market share around 20%.
One of the primary challenges for original equipment manufacturers (OEMs) is producing the next generation of EVs profitably. BCG estimates that most OEMs currently incur losses of approximately $6,000 on each EV sold for $50,000 after factoring in customer tax credits.
