{"id":113737,"date":"2020-11-17T16:10:30","date_gmt":"2020-11-17T13:10:30","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/heres-why-transparency-is-key-to-winning-the-ev-race\/"},"modified":"2020-11-17T16:10:30","modified_gmt":"2020-11-17T13:10:30","slug":"heres-why-transparency-is-key-to-winning-the-ev-race","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/heres-why-transparency-is-key-to-winning-the-ev-race\/","title":{"rendered":"#Here\u2019s why transparency is key to winning the EV race"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3c338a7cd58\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3c338a7cd58\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/heres-why-transparency-is-key-to-winning-the-ev-race\/#Intention-action_gap\" >Intention-action gap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/heres-why-transparency-is-key-to-winning-the-ev-race\/#Transparency_in_the_EV_industry\" >Transparency in the EV industry<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/heres-why-transparency-is-key-to-winning-the-ev-race\/#Affordability_matters_too\" >Affordability matters, too<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/heres-why-transparency-is-key-to-winning-the-ev-race\/#Combating_misconceptions\" >Combating misconceptions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/heres-why-transparency-is-key-to-winning-the-ev-race\/#Creating_a_culture_built_on_transparency\" >Creating a culture built on transparency<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Here\u2019s why transparency is key to winning the EV race<\/strong>&#8221;<\/p>\n<div>\n                                <span style=\"font-weight: 400;\">Today\u2019s world is so connected, the average teenager with a smartphone can perform a fairly thorough background check with just a few clicks. No longer is a company\u2019s decision to be transparent about the way it\u2019s run a novel idea, or a favor to the consumer. In fact, business transparency has become a necessary part of the business model in order to attract customers and retain trust. And with Millennials and Gen Z holding increasingly more purchasing power, they\u2019re beginning to demand that companies are transparent about their levels of sustainability.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Intention-action_gap\"><\/span>Intention-action gap<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Sustainability without transparency is meaningless. <\/span><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.ul.com\/insights\/transparency-critical-sustainability\"><span style=\"font-weight: 400;\">76% of Millennials say<\/span><\/a><span style=\"font-weight: 400;\"> that they\u2019ll research the authenticity of a company that claims to support an environmental or <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> issue, and 94% say they\u2019re likely to be loyal to a brand that offers complete transparency. Yet out of the many consumers who say they want to buy greener products, <\/span><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/hbr.org\/2019\/07\/the-elusive-green-consumer\"><span style=\"font-weight: 400;\">only a fraction of them actually do<\/span><\/a><span style=\"font-weight: 400;\">. This paradox is what researchers call the \u201cintention-action gap,\u201d and that gap is often populated by ideas that greener products are less convenient, more expensive, and less functional.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While such perceptions are hard to shake, they represent an opportunity for transparent businesses with sustainable products: Companies can use their transparency to educate consumers about the quality of their products, potential long-term savings, and of course, the environmental benefits.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Transparency_in_the_EV_industry\"><\/span>Transparency in the EV industry<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">When it comes to the auto industry, transparency has historically been a novel idea. But some electric vehicle companies, like Polestar, are working to create a transparency movement within the industry and among consumers. Polestar, the EV arm of Volvo, recently published its <\/span><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.polestar.com\/uk\/electric-sustainability\/transparency\/\"><span style=\"font-weight: 400;\">Life Cycle Assessment (LCA) report<\/span><\/a><span style=\"font-weight: 400;\">, detailing the environmental impact of its Polestar 2 passenger vehicle throughout its entire life cycle, from production to end-of-life.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Their goal is to promote supply chain traceability and communicate openly about its impact in an attempt to not only cultivate trust with the consumer, but also to push for a more standardized methodology for LCAs across the industry so that manufacturers can hold each other accountable and work towards significantly lowering emissions. At present, there is no universal standard of measuring environmental impacts of vehicles, and companies are not required to make any LCAs they conduct public.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While Polestar\u2019s move is an important first step towards creating waves among automakers, environmental incentives and brand trust alone aren\u2019t likely to sway the millions of people who rely on cars to get around. In 2019, <\/span><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.statista.com\/statistics\/199974\/us-car-sales-since-1951\/#:~:text=How%20many%20cars%20are%20sold,million%20units%20worldwide%20in%202019.\"><span style=\"font-weight: 400;\">17 million cars were sold<\/span><\/a><span style=\"font-weight: 400;\"> in the United States, but <\/span><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.mckinsey.com\/industries\/automotive-and-assembly\/our-insights\/mckinsey-electric-vehicle-index-europe-cushions-a-global-plunge-in-ev-sales\"><span style=\"font-weight: 400;\">EV sales dropped by 12%<\/span><\/a><span style=\"font-weight: 400;\"> with only 320,000 units sold. Globally, EV sales declined by 25% during the first quarter of 2020.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the bright side, in Europe in 2019, EV sales increased by 44%, and continued to rise in 2020 as the overall EV penetration rate increased to 7.5%, with Germany and the Netherlands leading much of the charge. This boost is in large part due to strong European regulations and high purchase incentives. To an increasing number of consumers, reducing carbon footprint is a massive incentive, but car companies must be transparent about their sustainability.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIncreased transparency allows for increased trust,\u201d said Brett Smith, director of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> at the Center for Automotive Research. \u201cIt allows the consumer to say, \u2018I\u2019ve done my homework and this is the best car for me and for the environment.\u2019 But buying an electric vehicle is a big step right now, even for those who care enough to say they care.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As EV companies consider how to best reach consumers with promises of transparency, they must find ways to tell that story of transparency in a way that <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eals to consumers.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Affordability_matters_too\"><\/span>Affordability matters, too<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/d2n8sg27e5659d.cloudfront.net\/wp-content\/uploads\/2019\/04\/2019-Cox-Automotive-Car-Buyer-Journey-Study-Media-Deck.pdf\"><span style=\"font-weight: 400;\">According to one study<\/span><\/a><span style=\"font-weight: 400;\">, consumers are most concerned with affordability when purchasing a new vehicle and often shy away from larger upfront costs. The Polestar 2, for example, is priced at around $59,900, whereas a Toyota Camry, America\u2019s sweetheart, costs less than half that. But electric vehicles are undoubtedly cheaper in the long run, and that\u2019s something that transparent sustainability reports can confirm and promote.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Lack of fuel costs and cheaper maintenance and tax mean that EVs hold their value for longer, with the gap in ownership costs disappearing in four years, <\/span><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.thetimes.co.uk\/article\/electric-cars-are-cheaper-in-long-run-study-finds-05592nw37#:~:text=Battery%2Dpowered%20family%20cars%20are,equivalents%2C%20according%20to%20a%20study.&amp;text=Small%20battery%2Dpowered%20cars%20remained,costs%20disappeared%20after%20four%20years.\"><span style=\"font-weight: 400;\">according to a recent study<\/span><\/a><span style=\"font-weight: 400;\">. And that checks out when you look at the prices of charging a battery versus filling up a gas tank. If an average European driver with a small internal combustion engine car filled up their tank once a week, they\u2019d be spending on average \u20ac60 per week. A <\/span><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.polestar.com\/nl\/numbers\/\"><span style=\"font-weight: 400;\">Polestar 2<\/span><\/a><span style=\"font-weight: 400;\">, for example, will only set you back \u20ac18 per week for a full charge.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Transparency around sustainability won\u2019t just appeal to consumers, but also to governments, which car companies need to partner with in order to help encourage adoption at scale.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In Norway, for example, <\/span><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.theguardian.com\/environment\/2020\/apr\/19\/norway-and-the-a-ha-moment-that-made-electric-cars-the-answer\"><span style=\"font-weight: 400;\">three in four of all new cars sold this year were either wholly or partially electric<\/span><\/a><span style=\"font-weight: 400;\">. But it wasn\u2019t just green initiatives that turned the tide \u2014 it was a host of government incentives that make buying an EV a no-brainer. For example, electric car drivers can park for free in some municipal parking lots, can drive in bus lanes and toll-free, and are not required to pay VAT on their cars or road tax. Short of government incentives like those in Norway, it\u2019s going to be up to electric car companies to use transparency strategically.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Combating_misconceptions\"><\/span>Combating misconceptions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">\u201cA lot of the time, consumers see the tradeoff with EVs being that it\u2019s going to be more expensive, it\u2019s probably not going to be aesthetically pleasing, and probably won\u2019t perform as well,\u201d said Katherine White, professor of consumer insights, prosocial consumption, and sustainability at the University of British Columbia\u2019s Sauder School of Business. \u201cOn the part of the car companies, there are things you can do to overcome those perceptual barriers that consumers have.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s a common misconception that EVs are not as aesthetically pleasing, and one that manufacturers are aware of and have successfully combated. In fact, EVs can be very progressive and slick-looking vehicles, like the Honda E or the more luxurious Polestar 2, which comes in sophisticated designs <\/span><span style=\"font-weight: 400;\">like the <\/span><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.polestar.com\/uk\/polestar-2\/themes-london\/\"><span style=\"font-weight: 400;\">London<\/span><\/a><span style=\"font-weight: 400;\">, the <\/span><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.polestar.com\/uk\/polestar-2\/themes-berlin\/\"><span style=\"font-weight: 400;\">Berlin<\/span><\/a><span style=\"font-weight: 400;\">, or the <\/span><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.polestar.com\/uk\/polestar-2\/themes-shanghai\/\"><span style=\"font-weight: 400;\">Shanghai<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">White says that car companies, like Polestar, can use LCAs to appeal to all types of consumers. Some will want to absorb the whole report, but others just want to know about specific things like carbon emissions, so EV companies can break down their reports into easily digestible bites.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIf you\u2019re communicating to the consumer, you can communicate the environmental impact, but you can link it to different things,\u201d said White. \u201cYou can link it in some cases to saving money on gas and saving money overall. There\u2019s a self-benefit that can be highlighted. Or it could be on being innovative and trying new things, or it can be on family and the future of your grandkids.\u201d\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Creating_a_culture_built_on_transparency\"><\/span>Creating a culture built on transparency<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The important thing is to leverage transparency and sustainability in a way that\u2019s geared towards different types of consumers. For example, there\u2019s evidence to suggest that liberals might lean more strongly towards choosing environmental options, but that message seems to backfire with conservatives, who respond better to messages of fulfilling a duty to society or protecting their country.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When attempting to process a lot of information, White says consumers use heuristics or cognitive shortcuts, following cues that are easier to follow like celebrity endorsements or even well-chosen\u00a0color schemes. This doesn\u2019t mean that transparency isn\u2019t actually important. Industry-wide transparency can be used to create culture and conversation around sustainability, so that when consumers buy a car next, they\u2019ll be more likely to begin prioritizing sustainable car purchases.\u00a0<\/span><\/p>\n<div class=\"c-post-paidNotice c-post-paidNotice--below\">\n            <img decoding=\"async\" class=\"c-post-paidNotice-image\" src=\"\"\/><\/p>\n<hr\/>\n<p><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" onclick=\"ga('primary.send', 'event', 'Article', 'Sponsored Post', 'Link');\" href=\"https:\/\/www.polestar.com\/nl\/polestar-and-shift?utm_medium=pp&amp;utm_source=dp&amp;utm_campaign=pcid_3450_41261_85609_351306_p_nl_1local_pp_dp&amp;utm_content=ad\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-1308892 aligncenter\" src=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2020\/07\/Polestar_wordmark_pos.png\" alt=\"\" width=\"220\" height=\"100\"\/><\/a><br \/>\n<i><span>This article is brought to you by Polestar. It&#8217;s time to accelerate the shift to sustainable mobility. That is why Polestar combines electric driving with cutting-edge design and thrilling performance.<\/span><\/i> <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" onclick=\"ga('primary.send', 'event', 'Article', 'Sponsored Post', 'Link');\" href=\"https:\/\/www.polestar.com\/nl\/polestar-and-shift?utm_medium=pp&amp;utm_source=dp&amp;utm_campaign=pcid_3450_41261_85609_351306_p_nl_1local_pp_dp&amp;utm_content=ad\"><i><span>Find out how<\/span><\/i><\/a><i><span>.<\/span><\/i>\n<\/div>\n<p class=\"c-post-pubDate\">\n                                    Published November 17, 2020 \u2014 13:10 UTC\n                                <\/p>\n<\/p><\/div>\n<p><script data-src=\"https:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&amp;appId=378011798897423&amp;version=v2.6\" id=\"socialSrcFacebook\" type=\"text\/template\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more like this article, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/technology\/\" target=\"_blank\" rel=\"noopener noreferrer\">Technology category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/thenextweb.com\/shift\/2020\/11\/17\/heres-why-transparency-is-key-to-winning-the-ev-race\/\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Here\u2019s why transparency is key to winning the EV race&#8221; Today\u2019s world is so connected, the average teenager with a smartphone can perform a fairly thorough background check with just a few clicks. No longer is a company\u2019s decision to be transparent about the way it\u2019s run a novel idea, or a favor to the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":113738,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/img-cdn.tnwcdn.com\/image\/shift?filter_last=1&fit=1280,640&url=https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2020\/11\/transparency.jpg&signature=465b338c7bf954b062e266d7edb24e77","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-113737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/113737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=113737"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/113737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/113738"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=113737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=113737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=113737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}