Why the next generation could demand access to electric vehicles from the comfort of their own homes

Written by Sarah Park, Head of Madano’s Investment, Development & Regeneration practice

MIPIM 2019 invites the property industry to Engage the Future. As well as a nod to innovation its aim is to encourage leaders to communicate with the next gen on how together a more sustainable future can be created.

Electric vehicles (EVs) is one topic that has rapidly become a significant part of the property conversation since the Government launched its Road to Zero Strategy in July 2018. This political throwing down of the gauntlet has initiated debate on the impact that EVs have on the design, development and planning requirements for future builds with some local planning authorities insisting that new residential schemes are developed with EV charging infrastructure.

But how much demand is being driven by today’s customer and what does that trajectory look like over the next five to 10 years and beyond? How can we better identify decisions the next gen will make when planning to move home, irrespective of whether it is to build-to-rent or purchased property?

Industry data reveals that in 12 months, EV registration has increased by 110%. There is a distinct correlation between today’s EV owners and the ability to charge at home – 97% of respondents do so, made possible by on-street capabilities, with 75% of owners living in terrace/semi and detached homes. There is a growing number, however, who are choosing to live in flats. We anticipate that that desire to charge at home will remain the same.

Almost 50% of next gen decision makers would consider buying an EV; 84% of those who own an EV or would consider buying one are concerned about climate change. This disquiet shouldn’t be underestimated. Growing concern for the environment was made apparent when more than 10,000 school children walked out of their classrooms in February to voice their anger over what they see as a lack of action in tackling climate change. We are already starting to see them vote with their feet.

From a communications point of view, it is more important than ever that developers turn their narrative towards this next generation and share with it their commitment to build sustainably. Not just to rent out/sell flats and a lifestyle but because their own brand ethos is to be part of the environmental solution rather than the problem. Supplying EV charging points as part of a residential scheme would not only cater for a growing demand but offer the end user a reassurance that the lifestyle choice of their home is fit for the future.

About our electric vehicle (EV) insight work: Madano’s Insights team can help you to stay on top of the dynamic and complex EV market. We use data science to help you understand what the industry is discussing and who is influencing that debate, as well as primary research to profile potential EV owners and understand how incorporating EV and related infrastructure in your story will influence your reputation. For more information, contact Tara Lohmann ([email protected]) or Gareth Morrell ([email protected]).

How do we enable the next generation of road users to become owners of electric vehicles? See our infographic below.

EV infographic