A charging time of 30 minutes is another tipping point for making the switch to electric.
Motorists in the UK currently believe they’ll consider buying an electric car in 2025 – a year later than the global average.
We are also not willing to pay as much for electric cars as those in other countries.
Castrol carried out the survey of 10,000 motorists in eight countries.
It estimated that if the three tipping points are met, the UK’s annual EV market could be worth £13 billion by 2025.
Price is biggest barrier
More than two in three UK motorists say price is the number one factor in stopping them considering a zero-emissions EV – as current models are beyond their budget.
The global price tipping point is £29k: British buyers are not willing to pay anything like as much, with our tipping point £5k lower.
However, while more than half of UK motorists suffer range anxiety, in reality, most drivers don’t drive the full range on one charge. Despite this, they still want EVs to drive the equivalent of London to Paris before they’ll consider one.
“Individual consumers are positive about making the switch to electric, but buyers in the UK expect to do so slightly later than those in other markets, and are keen to pay a bit less,” said Castrol VP Omer Dormen.
“Bringing down the cost and charge time for electric vehicles, while increasing range, infrastructure and vehicle choice will be critical to persuading consumers to make the switch,” said Castrol CEO Mandhir Singh.
Although Castrol is better known as an engine oil manufacturer, it has an interest in the roll-out of EVs, with a growing range of battery coolant e-fluid, e-greases and transmission fluids.