Electric vehicle charging in retail stations is “not a runaway bestseller” for Phillips 66 because charging is slower and “awfully expensive” compared with the cost of charging at home, the U.S. refiner’s chief economist Horace Hobbs said at an energy conference on Tuesday.
Less than 2% of the refiner’s 7,000 retail locations in the United States and Europe have electric vehicle charging capability.
Phillips has to ask consumers to pay a higher price for electricity at their public stations than what customers would pay charging their cars at home.
And that is why we’ve been telling you that you won’t see more than 3% market penetration for EV’s for a long time. And critical mass NEVER unless new battery tech is discovered that is 100x the power, 1/10 the price and charges in less than 5 minutes.
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