Consumer insights and analytics specialist J.D. Power has released its annual US Electric Vehicle Experience (EVX) Ownership Study that relays not only an increase in EV customer satisfaction but also a shift to more traditional factors, like vehicle quality and styling, rather than categories like range. In its first year of eligibility, the Rivian R1T garnered the top satisfaction rating amongst premium EVs, dethroning 2022’s leader, the Tesla Model 3.
J.D. Power is an American consumer intelligence company founded in the late 1960s that uses big data and AI to evaluate detailed consumer interactions and trends across many industries, including automotive, financial services, healthcare, insurance, technology, and media.
Each year, the company releases its US Electric Vehicle Experience (EVX) Ownership Study, which benchmarks customer satisfaction with the critical attributes that affect the total or overall EV ownership experience.
For the past two years, the study has been conducted through the EV driver app and research firm PlugShare and has rated BEVs and PHEVs in both the premium and mass-market automotive segments. J.D. Power’s leading premium BEV for 2022 was the Tesla Model 3, joined by the Kia Niro EV as the highest-rated mass-market model.
This year, however, J.D. Power is reporting a new premium EV with the highest customer satisfaction that also represents a shift in factors most important to customers, like towing. Here’s the 2023 data:
Rivian R1T takes J.D. Power crown for premium EVs
According to J.D. Power’s 2023 EVX Ownership Study, the Rivian R1T and MINI Cooper electric have the highest levels of owner satisfaction for premium and mass-market Evs, respectively. The R1T ranked highest in seven of the 10 categories within the study for a total of 794 points (out of 1,000). Second was the Tesla Model 3, with 759 points.
The MINI electric garnered 782 points, followed by the Kia EV6 (762) and Mustang Mach-E (742). Compiling all three years of the study, J.D. Power points out that customer satisfaction for premium EVs averages 756 points, while mass-market vehicles sit at 730. Executive director of the EV practice at J.D. Power Brent Gruber spoke to this year’s results:
The electric vehicle landscape is changing quickly, and newer models are bringing in more mainstream, first-time EV buyers. Recent vehicle launches from both new brands and traditional automakers have had a profound effect on what factors are most important in the ownership experience. Today’s EV owners are looking for quality, reliability, driving enjoyment, safety and technology features.
According to J.D. Power, the biggest inhibitors to customer satisfaction in premium EVs are squeaks and rattling, while infotainment remains the biggest complaint for mass-market BEV owners for a third consecutive year. Mass-market vehicle owners also reported a much larger qualm with public charging availability as those EVs do not have access to Tesla’s Supercharger network… but only for a bit longer.
The past year brought the debut of multiple all-electric trucks in addition to the Rivian R1T, and customer satisfaction surprisingly reflected positive feedback for those who did use their all-electric towing capabilities. Drive range satisfaction was also higher among those who towed compared to those who hadn’t, stating that estimated range accuracy met customer expectations.
First-time BEV ownership is up 11% compared to 2022, and mass-market EVs are seeing adoption at a higher rate than premium models. Those customers note decreased operational costs and tax credits as their primary reasons for purchasing their first EV, while driving performance remains the top reason for first-time premium BEV buyers.
J.D. Power states that customers for the study included 7,073 owners of 2022 and 2023 model-year BEVs and PHEVs who were surveyed from August through December 2022.
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LiveWire, the electric motorcycle brand spun out of Harley-Davidson, has just announced its latest electric motorcycle model. The new LiveWire S2 Alpanista is built on the same platform as the brand’s last two models, leveraging the Arrow platform as a versatile foundation for several diverse bikes.
The Arrow platform first received its debut with the LiveWire S2 Del Mar, which was then followed by the S2 Mulholland.
LiveWire announced that a high-performance electric maxi-scooter would be produced on the Arrow platform, but not before the company rolled out the S2 Alpinista. “The Alpinista is LiveWire’s first sport standard,” explained the company, “equipped with 17” wheels and tires, blending the best of street, sport, and hyper-tourer characteristics.”
The recently unveiled S2 Alpinista is mechanically quite similar to the two previous models sharing the platform. The 10.5 kWh battery that serves as the main structure of the bike will offer a maximum range of 120 miles (193 km) per charge under city riding conditions. It can be recharged with a Level 2 charger from 20-80% in just 1 hour and 20 minutes.
The 433 lb (196 kg) bike can achieve a 0-60 mph (0-96 km/h) time of just 3.0 seconds, thanks to its powerful 63 kW (84 hp) motor. The S2 Alpinista can also reach an electronically limited top speed of 99 mph (159 km/h).
Priced at US $15,999 and already available at LiveWire dealerships in North America and Europe, the S2 Alpinista officially becomes the most affordable LiveWire electric motorcycle available to date, undercutting the $16,249 S2 Del Mar electric street tracker and the $16,499 Mulholland electric sport cruiser.
“Alpinista reimagines the S2 by combining the urban agility of a supermoto with the do-it-all nature of a touring bike, creating a practical and thrilling sport standard,” explained the brand.
The smaller 17″ wheels help reduce the seat height of the bike, and combined with the Dunlop Roadsmart IV tires, the street-optimized bike is ideal for “both daily commutes and spirited rides through winding roads.”
The S2 Alpinista comes with 6-axis IMU from Bosch providing cornering-enhanced antilock braking and cornering-enhanced traction control systems, in addition to four preset ride modes and two custom modes.
Now the third model launched on the Arrow platform, the S2 Alpanista underscores the versatility of LiveWire’s workhorse. The approach was intended to allow the e-motorcycle offshoot to quickly innovate with multiple styles of motorcycles all sharing key structural and drivetrain components. The move has largely been seen as an engineering success, with three models hitting the road in under three years. However, sales have yet to reach targets set by LiveWire as the more premium electric motorcycle industry has experienced a rocky few years.
As a LiveWire S2 Del Mar owner myself, I can attest to both the performance and enjoyable experience of bikes built on the platform, though I do find myself in a somewhat smaller community than LiveWire had likely hoped for. With the backing of its powerful older brother H-D, which retains a controlling stake in the company, LiveWire has enjoyed the relative freedom to cruise for its first few years and focus on motorcycle development and rollouts, with profitability hopefully coming over the horizon in due time.
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British oil and gasoline company BP (British Petroleum) signage is being pictured in Warsaw, Poland, on July 29, 2024.
Nurphoto | Nurphoto | Getty Images
British oil major BP on Thursday said it is planning to cut thousands of jobs as part of a major cost-reduction exercise.
“Today, we have today told staff across bp that the proposed changes that have been announced to date are expected to impact around 4700 bp roles – these account for much of the anticipated reduction this year,” BP said in a statement.
“We are also reducing our contractor numbers by 3000,” the company said.
The measures, which were designed to lower costs, come after BP CEO Murray Auchincloss said last year that the company intends to deliver at least $2 billion of cash savings by the end of 2026.
BP’s workforce currently stands at around 87,800.
Shares of the company traded 1.4% higher on Thursday morning.
Strategy in focus
BP has underperformed its European rivals of late as energy market participants continue to question the firm’s investment case.
In a trading update published Tuesday, BP said weaker refinery margins and turnaround activity will deliver a $100 million to $300 million blow to its fourth-quarter profit, while further declines are expected in oil production.
The energy firm is scheduled to report quarterly and full-year earnings on Feb. 11.
BP said in the same update that it had postponed an event for investors next month so that its chief executive can fully recuperate from a “planned medical procedure.” Auchincloss was said to be “recovering well” from the procedure, which had not been previously disclosed.
The capital markets event, which had previously been scheduled to take place in New York on Feb. 11, will now take place in London on Feb. 26.
— CNBC’s Ruxandra Iordache contributed to this report.
On today’s episode of Quick Charge we explore the uncertainty around the future of EV incentives, the roles different stakeholders will play in shaping that future, and our friend Stacy Noblet from energy consulting firm ICF stops by to share her take on what lies ahead.
We’ve got a couple of different articles and studies referenced in this forward-looking interview, and I’ve done my best to link to all of them below. If I missed one, let me know in the comments.
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