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High gas prices are driving British Columbians toward electric vehicles, but supply can’t match the demand, a report from BC Hydro says.
While 2021 was a record year for British Columbians turning to EVs, the pickup could have been higher if more had been available, a May 13 report from the utility said.
Manufacturers have faced supply chain issues as well as lithium battery and microchip shortages over the past couple of years. That has meant less production.
And while Manufacturers are still facing challenges, the report said, research points to supply chain shortages easing by 2023.
Research has found 34 per cent of British Columbians who are interested in buying a vehicle are hesitant to buy an EV because of lack of availability.
That lack of availability has, in part been COVID-19-driven, as the pandemic created global supply chain problems.
“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 said.
Waiting aside, the switch to EVs is something Victoria has been advocating as part of climate change adaptation for some years. And, BC Hydro has been along for the ride as it worked on EV infrastructure.
Still, the situation still leaves EV dealerships with wait times of a year, depending on the type of vehicle a customer wants.
“In fact, 41 per cent of those actively shopping for an EV describe the buying process as difficult,” the report said.
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