Automakers are in a race against time in their efforts to achieve new, aggressive CAFE standards expected to be announced in August. Part of the strategy to achieve these fuel efficiency standards is electric vehicles. To attract more EV buyers, automakers are rushing to develop quick charging systems that charge the vehicle without needing to plug it in.
Consumers have several concerns about the new electric vehicles. Among their issues is the hassle of dealing with the electric cord used in the recharging process, and the length of time required to fully charge the vehicle. Automakers and suppliers are working to develop supercharging systems that can quickly recharge the vehicle using wireless technology.
Tesla is working on a system it claims can recharge its vehicles in less than an hour. General Motors has invested $5 million in a company called Powermat. The fast charging systems currently being deployed in several cities across the U.S. are expensive, selling for over $2,000. At this price, it is unlikely consumers will make this investment for their home garages.
Sales of the Chevrolet Volt and Nissan Leaf have been disappointing. With other EVs entering the market, automakers will be working to solve their recharging challenges.