In the midst of the ongoing cold snap across the United States, electric vehicle (EV) drivers are facing a new challenge: range anxiety exacerbated by plummeting temperatures. A recent study by the American Automobile Association (AAA) reveals that EVs can lose up to 12% of their range when the mercury drops to 20 degrees Fahrenheit (-6 degrees Celsius). The impact is even more pronounced, reaching up to 40%, when utilizing the cabin heater during frigid weather conditions.

To compound the issue, charging times for older EVs can double or even triple in cold temperatures. This phenomenon is not unique to EVs, as conventional gasoline cars also experience a 15% decrease in gas mileage at 20 degrees Fahrenheit, according to the U.S. Department of Energy.

The Biden-Harris administration's ambitious goal of having half of all new vehicle sales electric by 2030 faces challenges, especially with recent reports of a shortage of EV charging stations in New York City. The city, which aims to ban new gasoline-powered vehicles by 2035, currently has only 1,500 public charging plugs, falling significantly short of the 40,000 needed by 2030.

Despite the challenges, the EV market is growing rapidly, with a record 1.2 million EVs sold in the U.S. in 2023--a 51% year-on-year increase. Falling lithium prices, constituting up to 70% of an EV's powertrain cost, have played a pivotal role in making electric vehicles more affordable, with an 18% average cost reduction in 2023.

Source: oilprice.com