Analytics, Baltic, Banks, Car market, Energy, Estonia, Transport

 "We surveyed people to learn what they consider their biggest obstacles to buying an electric car, and 71% highlighted the maximum range and recharging times as the biggest hurdles. Underdeveloped recharging network was pointed out by 66 % of the respondents as the second biggest obstacle," Marina Hakiainen, head of retail banking at the Estonian branch of Citadele, said.

"These results show that a fair amount of awareness raising likely needs to be done regarding electric cars. Estonia is such a small state that present-day electric cars can cover intercity return trips without any problems. As a result of a quota sales project, Estonia also has a uniquely exemplary recharging network which is constantly being improved," she said.

Surprisingly, the recharging network was cited as an obstacle by 73% of Tallinn residents, despite the capital city having the best developed network of recharging stations in the state. 

Hakiainen noted that 50 % of the respondents also said that the relatively large initial costs of purchasing an electric vehicle also act as a deterrent.

"This is a more substantiated obstacle, to which there are also resolutions available, however. For instance the Environmental Investment Center (KIK) is about to launch a new call for proposals for the support arrangement for the purchase of electric vehicles. Support and concessions are also available elsewhere -- Citadele Bank, too, has lifted the down payment requirement for the lease of electric cars and made available a more favorable interest rate," she said.

The results of the survey showed that 38% of Estonian people believe that electric cars are not winter-hardy enough and 29% deemed them unsuitable for residents of apartment buildings. 21% opined that the technology has not been sufficiently tested and 25 % said that they did not have enough information on the topic.

The survey commissioned by Citadele Bank was carried out by Norstat among 1,000 people aged 18-74 in each of the three Baltic states.