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Democracy Cluster Future of Science and Technology Cluster Economic Security Cluster Population Cluster Global Korea Cluster Carbon Neutrality Cluster Balanced Regional Growth and Resilience Cluster [Expired]Pandemic Cluster

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[Expired]Foundational study for the advanced revision of the Korea-U.S. nuclear cooperation agreement [Expired]Preparation for Four Geopolitical Risks [Expired]Labor market reform tasks for restoring the dynamism of the Korean economy [Expired]Problems and Improvement Plans of Korean Education [Expired]Questions for the future of science and technology in Korea [Expired]Security and Economic Cooperation between Korea and Japan [Expired]The future of population for a sustainable society [Expired]Directions for sustainable future healthcare reform [Expired]Healthcare system improvements for the establishment of the primary care physician system [Expired]Avian influenza pandemic risk assessment and preparedness [Expired]The stagnant growth crisis: national strategy for economic prosperity

 

[Expired]Research on the outlook for key sectors of population change and response strategies [Expired]Exploring the public education system and its functions in population decline era [Expired]Policy advisory service for enhancing the future competitiveness of nuclear energy [Expired]Establishment of KEPCO's medium-to-long-term response strategy [Expired]Future agricultural and rural development strategies & response tasks for the Korea rural community [Expired]Rewriting Democracy [Expired]In the Era of Technological Competition, Korea's Future Prospects [Expired]Developing a nationally-unified response system to address frauds involving multiple victims [Expired]Changes in international politics and the rise of the global south [Expired]Research on identifying policy agendas and research issues for the national AI strategy

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Title Strategic Approach for the Expansion of Electric Vehicles: Beyond the Chasm Hit 398
Publication 2024-12-20

Institute for Future Strategy Issue Brief, December 2024 Vol. 17
“A Strategic Approach to Electric Vehicle Expansion: Beyond the Chasm”

This issue brief provides an in-depth analysis of the challenges currently facing the electric vehicle (EV) market and strategies for its future expansion. Despite the advantages of EVs as eco-friendly modes of transportation, the market is now confronting the “chasm”—a barrier to mass adoption.

Traditionally, the main factors behind this chasm have been identified as economic and technological, such as subsidies, fuel efficiency, maximum driving range, and charging infrastructure. However, recent high-profile incidents of EV fires reported in the media may serve as an additional psychological barrier for consumers.

Accordingly, this brief empirically analyses the impact of such negative issues on EV sales and proposes practical strategies to overcome the chasm. The findings suggest that beyond economic incentives and infrastructure development, identifying the causes of fires and ensuring transparent disclosure, enhancing safety, and restoring consumer trust are critical tasks.

Keywords
Electric vehicles, market expansion, chasm, safety, consumer trust

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