The Sconi

A top Toyota executive has warned that the U.S. is not currently prepared to fully shift toward electric vehicles, citing high prices and a lack of charging infrastructure as the underlying reasons.

That sentiment was echoed in a Consumer Reports survey. Of the study’s 8,027 responses, more than 60% of Americans cited a lack of infrastructure as a roadblock to purchasing an EV, while 55% cited the limited range of an EV on one charge as an obstacle. The survey also found that 63% of Americans would not purchase an EV, with 58% citing cost as a factor in their decision.

Jack Hollis, executive vice president of Sales at Toyota Motor North America, spoke during a virtual event with journalists and noted that prices and a lack of charging infrastructure would impede consumers from making the switch to EVs; a recent Wall Street Journal (WSJ) report said.

“As much as you want to talk about EVs, the marketplace isn’t mature enough,” he said in the report. “I don’t think the market is ready for what the rhetoric is saying."

EVs currently average a range of 250 miles on one charge, data from the University of California, Davis EV Research Center showed.

In Wisconsin, infrastructure exists in small numbers, with 1,827 charging stations across the state; plugshare.com said.

Despite the survey results, WSJ noted that Toyota, like many other car companies, is ramping up its EV program, with the company expecting to manufacture 3.5 million EVs per year by 2030. Hollis expects people to embrace EVs in the future, and the automaker needs to be ahead of the trend while providing hybrid alternatives today.  

CNBC noted that the Inflation Reduction Act, passed by lawmakers and signed by President Joe Biden earlier this month, extends the $7,500 tax credit for the purchase of new EVs. But Morningstar Senior Equity Analyst Seth Goldstein pointed out that the credit includes some income and price restrictions.