Home / Latest News / McKinsey Quarterly weighs in on market segmentation for EVs.
The recent issue of the McKinsey Quarterly featured an interesting article, A New Segmentation for Electric Vehicles. The piece references a recent McKinsey and Company study, which found that automakers could benefit from designing and marketing vehicles around specific purposes. Assuming that the battery remains an expensive consideration, the study looked at the most optimal use of an EV’s energy storage and found that its energy requirements vary according to specific use. Essentially, an EV that is used as an all purpose mode of transportation will require a larger battery and, in turn, a bigger price tag. So by segmenting the market around the consumer’s specific needs–grocery shopping, for example–automakers could offer a car uniquely tailored and priced to its driver’s demands.
It’s an important point to make and one that pertains to all forms of transportation. Consumers can save money and energy by using the right tool for the right job.