Electric vehicle (EV) drivers are increasingly citing high electricity costs as their biggest challenge, according to new research from Close Brothers Motor Finance.

The findings come as the UK prepares for an energy price cap increase next week, which will further drive up household bills. Already, nearly a third (32%) of EV owners say that rising electricity costs have been the most significant hurdle to EV ownership.

The study, which surveyed EV drivers about their experiences transitioning from traditional fuel vehicles, revealed that 83% have faced challenges. Among the top concerns were issues related to battery performance and charging infrastructure, long-standing barriers to wider EV adoption.

The research, conducted by Close Brothers Motor Finance, surveyed 500 electric vehicle drivers between 30 May 2024 and 6 June 2024.

Range anxiety remains a major issue for EV drivers, with 29% citing concerns about how far they can travel on a single charge. A lack of charging points was a problem for 28% of respondents, while 21% reported frustrations with inadequate charging infrastructure, such as frequently malfunctioning chargers.

Battery-related challenges also feature prominently. A quarter of EV drivers (25%) expressed difficulties with needing to frequently stop for recharging during long journeys, and 15% said they had encountered problems with their battery going dead unexpectedly.

The key challenges identified by EV drivers in the research include:

• Rising electricity costs (32%)
• Range anxiety (29%)
• Lack of charging infrastructure (28%)
• Frequent stops for recharging on long journeys (25%)
• Slow home charging speeds (23%)
• Battery range falling short of manufacturer claims (22%)
• Chargers frequently out of order (21%)
• Lack of workplace charging facilities (21%)
• Battery unexpectedly going dead (15%)

Despite these issues, EV drivers remain committed to the transition to electric, with over nine in 10 (92%) saying they would purchase another electric vehicle in the future.

Lisa Watson, Director of Sales at Close Brothers Motor Finance, highlighted the financial concerns that may deter prospective buyers: “Switching to electric is a significant decision, particularly given ongoing concerns about charging infrastructure and battery range. While more than half of EV drivers have made the switch to save money, rising electricity prices present a new challenge.

“With changes to electric vehicle exemptions expected in 2025, the cost of EV ownership may increase further, making additional incentives crucial if we are to see greater uptake. As we approach the Autumn Statement, both drivers and dealers will be watching closely for policies that could reignite consumer interest in EVs.”