Apr 4, 2023   SOURCE: BusinessWire

Sila and SIS International Share Study Results on US Consumer Purchasing Behavior for Electric Vehicles

Sila, a next-generation battery materials company, in collaboration with SIS International, today announces the availability of a whitepaper highlighting key findings from a recent survey it commissioned on EV purchasing considerations: “US Consumer Insights: The Role of Battery Technology in EV Purchasing Considerations.”

Nearly 90% of respondents in a survey of EV consumers said they view EVs with technology that boosts battery performance to be more valuable than other technology enhancements or luxury features, including autonomous driving capabilities. And 75% surveyed are willing to pay more for a better battery, especially to be able to drive farther, citing longer range as the top priority, even as an upgraded premium feature.

Sila commissioned the study by SIS International to better understand consumers’ purchasing considerations for EVs, their driving behavior, barriers to and motivators for purchase, awareness levels on the role technology plays in battery performance, the battery performance metrics that matter most, and consumers’ willingness to pay for enhanced battery performance. 1,000 adults across the US, consumers living in both cities and suburbs, participated in the survey. 50% of the sample own one EV, the other 50% intend to purchase an EV in the near future.

States are implementing new goals for EV adoption, phasing out the sales of gasoline-only vehicles, and implementing new zero-emission vehicle standards. These new regulations are leading consumers to do their research, especially on ways the industry will address the key barriers to EV adoption cited in the study – range anxiety, charging infrastructure, vehicle performance, and cost.

"As more EVs come to market across all price points, automakers are attempting to attract buyers by focusing on bells and whistles with high buzz, instead of getting the most essential thing right – the battery. As this survey shows, consumers want to feel confident that when they switch to electric, their car can go long distances, reliably," said Gene Berdichevsky, Sila co-founder and CEO.

Battery Technology Reigns Supreme

Sila’s survey found that battery technology is the primary EV purchasing consideration across all consumer segments. In fact, 75% of respondents have paid or intend to pay for an extended range or fast-charge battery.

  • How far will you go: 79% of respondents value battery range over charge time, luxury features or other technology, and total cost.
  • Results over cost: Consumers are willing to pay over $13,000 for boosted battery performance – as a standalone upgrade offering.
  • Subscription models: Consumers are open to subscription models for better batteries, and are willing to pay as much as $200 - $250 per month for that extra range.

Bringing Green Manufacturing to the U.S.

Consumers are looking to companies that are not only environmentally friendly, but also manufacturing products in the U.S.

  • Going green: 86% say greenhouse gas emissions and environmental impacts are a factor in their EV purchasing decisions.
  • Sourcing materials: 69% say raw materials, like lithium and graphite, and the emissions from mining these materials are a factor in their EV purchase decisions.
  • Made in the US: Most participants are willing to pay more (on average 10 - 15% more) for materials sourced or batteries made in the U.S.

Sila today also announced the availability of its groundbreaking anode material, Titan Silicon, engineered for mass scale, that enables automakers to boost battery performance across their EV platforms. Titan Silicon is a high-performance nano-composite silicon anode that delivers a 20% increase in EV range and dramatically reduces charge time. Automaker Mercedes-Benz will incorporate Titan Silicon in its electric luxury fleet, starting with the G-Class, due out mid-decade.

About Sila

Founded in 2011, Sila is a next-generation battery materials company with the mission to power the world’s transition to clean energy. Sila’s nano-composite silicon, Titan Silicon, was engineered for mass scale and delivers industry-leading performance enhancements, powering a 20% increase in vehicle range and dramatically reducing EV charge time. Sila is the only next-gen materials company proven in-market today – powering the WHOOP 4.0 fitness tracker and others. By mid-decade, Sila’s materials will also power Mercedes-Benz cars, starting with the G-Class series. Committed to American leadership in clean energy production, Sila will manufacture at global scale in its facility in Moses Lake, Washington, for which the company received a $100 million grant from the US Department of Energy.

About SIS

SIS International Research is a global Market Research & Market Intelligence firm providing comprehensive research services and strategic analysis of information. The company has conducted research and consulting in over 120 countries, and has served many of the world’s most influential organizations. With a global team of diverse industry experts and world-renowned researchers and analysts, SIS leads companies to identify and capitalize on market opportunities, discover their full potential, and navigate the global economy. A true global firm, SIS offers multilingual recruitment, client servicing, moderation, and analysis in languages including Spanish, Mandarin, Japanese, French and German.