66 per cent customers ready to buy electric vehicles: Survey

66 per cent customers ready to buy electric vehicles: Survey
Spread the love
Synopsis

At present, EVs contribute less than 1% of total vehicles sold, but has the potential to scale up to 5% within a few years. In 2019-20, about 3.8 lakh electric vehicles were sold in India of which 58% were low-speed E3W and 40% E2W, according to a CarDekho OMG survey. CarDekho, the auto-tech firm, today released the Electric Vehicle Customer Awareness Study in association with OMG.

An increasing number of Indian customers are willing to buy electric vehicles of late, the government has been making a determined push towards electric mobility. The Union Minister for Road Transport & Highways, Nitin Gadkari recently asked the EV manufacturing industry to shift towards indigenous battery technologies while assuring the industry that the government will provide all possible assistance. This is a clear indication of the Government’s intention to promote the EV industry, with self-reliance at the core. The OEMs have already introduced several EV 4-wheeler models in the market.

At present, EVs contribute less than 1% of total vehicles sold, but has the potential to scale up to 5% within a few years. In 2019-20, about 3.8 lakh electric vehicles were sold in India of which 58% were low-speed E3W and 40% E2W, according to a CarDekho OMG survey. CarDekho, the auto-tech firm, today released the Electric Vehicle Customer Awareness Study in association with OMG.

According to the survey, 66% of customers are willing to buy electric vehicles, out of which 53% said they were strongly inclined to go electric. Among those surveyed, 13% are not yet ready for the transformation whereas 19% decline to go either way.

Further, 68% of the customers showed their concern towards the environment and believe switching to EVs will help reduce air pollution, whereas 11% & 6% of respondents considered driving pleasure and lower maintenance cost as the main reason for considering a shift to EVs.

The unique opportunity created by the EV segment also comes with a few challenges. 43%of respondents stated that frequent recharging will be a big concern, 20% raised concerns on the reliability of EVs during long drives/ inter-city travel, while 16% considered inadequate infrastructure (charging stations) a bigger hurdle. Nearly 12%of those surveyed said that pricing was an important consideration.

Respondents suggested manufacturers offer a full list of service stations in any city, accessories for easy and fast home-charging, and an extended service warranty assurance for the car.

The survey was conducted across India among potential 4W vehicle buyers. Almost 40% of the respondents own an SUV and 29% own a hatchback, followed by 25% owning sedans.

(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

8 Comments on this Story

Harikesh A13 days ago

There is not enough copper in the world for switch to EVs and renewables. Copper squeeze has already started . The way out is to invest in public transport esp railways and metro rail.

Jayeshkumar Panchal13 days ago

Policy makers, Governments, Automakers,Economists and Investors can fool the People with Alternate method of powering our Automobiles (with this Huge Push for the Electric Vehicles, that do not really reduce the use of Energy in Automobiles as per the Laws of Motion), but will not be able to fool the Nature, Environment and Climate, which will continue with all the ill-effects of the Air Pollution, Climate change and Global Warming, unless the use/wastage of Energy in Automobiles is Drastically Reduced; by correctly following the Laws of Motion.

Debasish Dinda13 days ago

Suppose in Bangalore, 25km journey during office hour takes 3-4 hrs. and EV range of 200 Km will be drained in a single way journey, so one need to recharge twice in a day,
it will take another 10 years before EVs become realistic solution. These kind of non sense surveys, tax cuts on EVs, high taxes on petrol are not going to do any good to car manufacturers in either way, fulfill basic needs of people first rather wasting useful resources

ETPrime stories of the day