Press Release - EV Readiness Index 2022
LeasePlan USA Releases National Study of Electric Vehicle Readiness.
Comprehensive analysis of 50 states and the District of Columbia reveals US faces challenges to becoming EV ready
Alpharetta, Ga. — May 4, 2022 — LeasePlan USA, the world’s leading provider of innovative, sustainable vehicle leasing solutions, today released the results of its first USA EV Readiness Index, a comprehensive analysis of the preparedness of all 50 states and the District of Columbia for electric vehicle transition. While LeasePlan has published an annual European version of the index since 2018, the USA index ranks states on a weighted scale based on five unique factors, including favorable state legislation and incentives, EV penetration, charger to vehicle ratio, public charger availability and climate suitability.
Unlike other EV studies, LeasePlan USA assessed the balance of EVs and public chargers instead of evaluating cost of charging and cost parity between battery electric vehicles and internal combustion engine (ICE) vehicles. Forecasts for this cost equilibrium shorten yearly, and climate has proven to be an increasingly important factor in the EV transition. Also, this study clearly takes into consideration the driver experience as we have incorporated our learnings across many electric fleet drivers.
As part of the study, LeasePlan calculated a readiness score by state. In 2022, data showed that Nevada, Mississippi and Hawaii are the best prepared states for electric vehicle transition. All three states have a welcoming climate for EVs, with Nevada and Mississippi also providing a reasonable amount of public charging stations whereas Hawaii already has begun integrating EVs into its overall vehicle market.
“Although the states that rose to the top in this year’s index are surprising, it’s clear that individual states are making progress towards a greater adoption of electric vehicles,” said Matt Dyer, CEO of LeasePlan USA. “Public charging infrastructure and meaningful federal policies are critical to taking EV adoption from aspirational to attainable in the US.”
This first edition of the USA EV Readiness Index also includes an overview of electric mobility in 2022, anticipated EVs coming to market, available and soon-to-be available truck and heavy-duty EV models, and actionable insights into each market’s EV readiness.
“Although I’m excited to see so many new EVs in the pipeline, OEMs play a crucial role in developing electric models with sufficient battery ranges and adaptability for fleet customers, and they will need to ensure that production capacity and volume availability rises to the lifecycle requirements of our fleet customers. Furthermore, the onus lies with OEMs to develop efficient battery technology to fight the effects of colder climates” says Matt Dyer.
USA EV Readiness key findings include:
No state ranked as fully EV ready
No states are ranked in the top bracket for readiness, and the top three states crept into the second rating bracket of EV accepted. States that ranked highest are better prepared than others while in lower ranked states drivers might encounter more challenges. This study shows that there is ample room for improvement across the Unites States. These rankings incorporate the fluidity of the transition to electric vehicles and growth of the market and will shift as the EV landscape evolves.
Climate suitability is crucial to EV readiness
Climate suitability plays a significant role in determining EV readiness. Cold environments are not yet ideal for EV operation due to the impact low temperatures have on driving range, charging speed and duration. On average, states that experience colder weather need to take additional measures in their EV transition efforts to secure a successful transition. European countries like Norway have proven that cold climates are not impossible to overcome, but proactive measures must be taken to ensure EV readiness.
Public charging infrastructure lags
For the purpose of this index, only public charging was assessed. While it’s promising to see federal government commitments, such as the planned $7.5 billion to accelerate EV adoption from the Infrastructure Bill, developing this network of chargers will likely take years and make public-only charging solutions unfavorable in the near term.
The information in this study is a compilation of critical data points determined by LeasePlan USA and gathered through public data sources.
LeasePlan is a global leader in Car-as-a-Service, with approximately 1.8 million vehicles under management in 29 countries. LeasePlan purchases, funds and manages new vehicles for its customers, providing a complete end-to-end service for a typical contract duration of three to four years. With over 50 years’ experience and being a founding member of the EV100, a global climate initiative designed to accelerate the acceptance of electric vehicles by 2030, LeasePlan's mission is to provide what’s next in sustainable mobility so its customers can focus on what's next for them. To learn more about LeasePlan, please visit www.leaseplan.com