ACV facts & figures
Just 20 years ago, fully electric vehicles (EVs) were almost entirely unviable¹ from an economic and functional standpoint. Even as recently as a decade ago, as Tesla was producing some of the first popular electric vehicles with a range of over 100 miles, many people and institutions treated the vehicles with caution. Lack of access to quick and reliable charging held these EVs back.
Today, charging stations are widely available, with thousands over the continent², leading to a proliferation of new EVs. It’s now feasible to take one well outside its range in a single trip, so charging speed is now a main consideration. However, charging speeds can be anything but transparent. It’s important for dealers to know the intricacies of what impacts charging speed and how it can be interpreted. It’s likely that the fastest charging electric cars will be best-sellers in the coming years.
Why Measuring Charging Speeds is a Challenge
Different Types of Chargers
It’s difficult for manufacturers to provide a standard measurement of charging speeds because there are three separate types of chargers that most EV owners will use throughout the car’s lifetime³.
- Level 1 chargers typically come standard with all EVs and allow a user to plug their vehicle directly into a standard 120V wall outlet. These charge slowly and often need eight or more hours to fully charge a car.
- Level 2 chargers require a special installation and plug into a 240V outlet, and they can charge a vehicle in approximately half the time.
- DC Fast chargers are the most powerful, and they are generally only available commercially, such as at gas and charging stations. Most manufacturers cite DC charging speeds in their advertising.
Fewer Industry-Standard Measurements
With gas cars, miles per gallon is the widely accepted and enforced measurement for a vehicle’s fuel economy. Gas stations also have strict regulations to ensure their machines dispense one gallon of gas accurately. However, the EV market has no requirements for measuring or notating charging speed. With no industry standard, manufacturers are left to choose the measurement tactic that makes their vehicles look best.
Some manufacturers report how long it takes to charge from empty to full, while others measure from 10% battery to 80%. Still others measure how many miles a vehicle can achieve per minute of charging. Unfortunately, none of these are perfect systems, and for now, it’s difficult to accurately compare one EV to another with any certainty. Most consumer publications will choose a consistent metric, like the miles gained per minute of charge while the battery is plugged in under peak conditions.
Fastest Charging EVs on the Market in 2023
Lucid Air - 20 miles per minute
This luxury EV is so new to the market that you might not have even seen them on the road yet in some areas, but they’re taking the EV world by storm with an impressive balance of design, range, and charging speed. Under peak conditions, Kelley Blue Book measured this vehicle as getting 20 miles of highway speeds per minute of DC fast charge⁴. Within just 20 minutes, a Lucid Air can renew over 300 miles of range. This is likely the fastest charging EV the market has ever seen.
Tesla Model 3 - 15 miles per minute
When car buyers think about electric vehicles, this is most likely the brand that comes to mind. The brand’s most affordable model is packed with tech features, including over-the-air updates, self-driving capability, and even TV streaming while charging⁵. Underneath all the bells and whistles, the base model has a range over 270 miles and can reach 60 mph in under 6 seconds⁶. The floor-mounted battery helps the car feel stable on the road for a more comfortable driving experience.
Kia EV6 - 14.5 miles per minute
The Kia EV6 is the Korean car manufacturer’s first fully EV car, and it comes with a number of impressive features. Depending on the trim level, drivers can expect a wide range of horsepower, all the way up to 576HP. Its 800-volt batteries charge faster than most competitors, leaving it with 14.5 miles per minute of charge and a time to full charge of well under an hour⁷.
Prepare Your Dealership Lot for the EV Market
As electric vehicle technology expands, you can expect them to turn up in the used car market in the future. The ACV Auctions platform lets you build a list of cars to watch for, so you can bid as soon as they become available. Our market reports help you stay current on a car’s condition and pricing. Sign up today to stay on top of the used car market and find the vehicles your customers want.
1. Energy.gov (15 September 2014). The History of the Electric Car. U.S. Department of Energy. Retrieved February 2, 2023, from https://www.energy.gov/articles/history-electric-car
2. Energy.gov. Electric Vehicle Charging Station Locations. U.S. Department of Energy. Retrieved February 2, 2023, from https://afdc.energy.gov/fuels/electricity_locations.html#/find/nearest?fuel=ELEC
3. Duke Energy. Electric car charging is easier than you think. Duke Energy. Retrieved February 2, 2023, from https://www.duke-energy.com/energy-education/electric-vehicles/charging-your-ev/types-of-chargers
4. Tucker, S. (10 March 10). 5 Fastest-Charging Electric Cars. Kelley Blue Book. Retrieved February 2, 2023, from https://www.kbb.com/car-advice/fastest-charging-electric-cars/
5. Ryan C. (14 January 2023). 2023 Tesla Model 3 Review. Kelley Blue Book. Retrieved February 8, 2023, from https://www.kbb.com/tesla/model-3/
6. Taylor A. (23 January 2023). 2023 Tesla Model 3 Review. U.S. News and World Report. Retrieved February 8, 2023, from https://cars.usnews.com/cars-trucks/tesla/model-3
7. Doll, S. (8 July 2022). The top 10 fastest-charging EVs currently available. Electrec. Retrieved February 2, 2023, from https://electrek.co/2022/07/08/fastest-charging-evs/
Aug 30, 2023