Hypervolt boss predicts boom for EV market as more consumers realise cost-saving benefits

The boss of a major British EV charger manufacturer has said the EV market is set for a boom as prices reduce and the long-term cost savings of making the transition to electric vehicles become more apparent.

Flavian Alexandru, the CEO of Hypervolt, told website Electric Drives in an exclusive interview that the EV revolution is just starting and that, as people gain more information about EVs and their benefits, the market will only get bigger.

Most importantly, he explained that once people realise how much they can save on fuel costs, EV charging sales will continue in an upward trajectory.

Surely, a home charger it’s just a box on your wall?

“What we’re seeing there is a lot of customers are going through an education phase,” he explained. “The market itself and a lot of jurisdictions are going through that same education phase where they think, ‘Hey, what’s this brick [box] on the wall? Why does it matter? It’s not that’s special, buy the cheapest one.’

“In reality, they end up thinking, ‘Actually, I’m really reliant on this. Not only to get me to work or to get me to where I’m going but also to get me maybe cheap energy tariffs.’

Hypervolt launched in March 2021 and has been one of the British manufacturing success stories. Alexandru believes that EV ownership is just the start of full energy independence for consumers.

“Right now the market offering is geared towards residential customers and we specifically target niches within that,” he added. “What we call the ‘Eco Warriors’ – so the more holistic green energy ecosystem buyer that is not going to stop at an EV charger. They might have solar panels and home batteries.”

EV prices will fall with more Chinese brands entering the market

The biggest barrier to EV ownership has largely been price and Alexandru, believes that EV prices will start to fall dramatically.

With more Chinese brands such as BYD and MG, offering models well below the £30k mark, there will be more pressure on the automotive industry to offer vehicles, that are at least in line with, or cheaper than conventional diesel or petrol models.

“I think the biggest disconnect between now and a mainstream adoption has largely remained price. We’re very much beginning a phase at which EVs are going to become affordable for the mass market.”

For Alexandru, the EV charging business is about educating the consumer and resetting the debate so it becomes part of society’s everyday psyche.

“We’re not selling a pretty product,” he explained. “It’s consumer tech on a vast scale. There are always going to be people who are happy to spend £5,000 on a washing machine, but for most people, most of the time, an offer is going to need to be mature and at an affordable price point for that to work. 

“You could spend £15,000 on batteries and solar panels, but if you think of it from a long-term perspective, if you drive an EV you know you can be 80% grid independent. All these amazing benefits for you personally… it’s just amazing to know that we can save someone sometimes in the region of a quarter of a million pounds. Obviously, that’s over a substantial period. It’s like 20-25 years, but on a macro level, the compound effect of that is really exciting.”

Check out our review of the Hypervolt Home 3.0.

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