[RahulNagaraj]

According to a recent report, the number of consumers looking to purchase electric vehicles has hit a global tipping point. A study conducted by EY Mobility Consumer Index states that 52% of the respondents looking to buy a new car are open to purchasing an EV. This is said to be the first time the number has exceeded the 50% mark, indicating a 22% rise in just 2 years.



The survey included 13,000 people across 18 countries. It shows that car buyers in Italy with 73%, China with 69% and South Korea with 63% are the most committed to buying an EV. The survey also shows Australia with 38% and the USA with 29% are the least committed.



Among the respondents of the survey, 38% cited environmental concerns as the main reason for buying an EV, while 34% mentioned the rising penalties on IC engines as a reason for the shift to EVs. The survey also stated that those willing to buy an EV are also ready to pay a premium. 88% said they would pay the additional cost, while 35% are willing to pay a premium of 20 per cent or more.

As per the survey results, those who already own an EV are less worried about range or charging infrastructure. The survey states that just 27% of EV owners are concerned about charging infrastructure.



Randy Miller, EY Global Advanced Manufacturing & Mobility Leader stated that these findings mark a tipping point in the global car-buying market. He added that while environmental concerns remain the top motivators, the rising global gas prices have also played a part in speeding up the shift towards EVs.

Miller also said that with growing charging infrastructure and battery quality, issues such as range anxiety will fade. People with EVs know from experience that charging infrastructure is there when needed. Hence, as more people adopt EVs the faster the range anxiety will fade away.

Source: EY Survey

Link to Team-BHP news

[AZT]

I have started seeing a lot of Nexon / Tigor EV's on the road so definitely the range anxiety concern is slowly fading away. I think some more competition in the budget EV space is the need of the hour.

[GTO]

Even on Team-BHP, we are so much more open to Electric Cars than we were say, 4 years ago. Sahil created a thread last year asking BHPians when they will buy an EV - link (Predict: Which will be your first EV & when will you buy it?).

But voting in a survey is one thing, the reality entirely different. In India, the biggest challenge remains charging facilities. The best place to charge an EV is overnight at home, and not everyone is lucky enough to have a socket in their parking spot (90% of India parks on the road). Plus, there are the limitations of long-distance highway trips & price premium over petrol / diesel equivalents. After so many years of efforts, the market-share of EVs in the USA hovers between 3.5 - 5%.

50% of new car buyers might be open to buying electric vehicles, but we're far from electric cars capturing even 10% of sales (in India). Give it another couple of years.

[pradheepsr]

I have taken the plunge.
Eagerly awaiting delivery of Nexon EV max this weekend which would the first in my district to my knowledge.
Though it would be the 3rd car in my garage, it’s a step in the right direction according to me.
The trend will surely tilt towards EVs in the months to come.
Though there’s only one public charging station in my city, I think I would be solely using my home charger as the car wouldn’t be used for long drives, atleast for the time being.
It’s a calculated risk but I’m pretty sure it’s gonna pay me off in the long run.

[VW2010]

For the upper class may be this trend is changing. Unless the prices are competitive enough against a similar petrol or diesel car, EV sales won't see major increase. There is absolutely no cost benefit for users who do not cover lot of kms to pay that extra premium over a gas car.

13000 is probably the sample size from an upper class colony.

Even Tesla sells because the car looks cool and not because of benefits of EV. Cool factor sales is what is driving EVs today.

Motorcycle is where one will notice increase in sales as it can compete with respect to price point against gas motorcycles, benefit on cost savings for a normal commuter from day 1.

I have no reason to buy an EV unless it costs same as the Petrol or Diesel variant.

[som9729]

Originally Posted by GTO

e road). Plus, there are the limitations of long-distance highway trips & price premium over petrol / diesel equivalents. After so many years of efforts, the market-share of EVs in the USA hovers between 3.5 - 5%.

50% of new car buyers might be open to buying electric vehicles, but we're far from electric cars capturing even 10% of sales (in India). Give it another couple of years.

On that note,

[Philomath55]

Originally Posted by GTO

The best place to charge an EV is overnight at home, and not everyone is lucky enough to have a socket in their parking spot.

True that! That is the only thing stopping me from considering an EV in UK.

[sukhbirST]

In cities like Delhi, where people commute mostly within the city limits, owning an EV makes sense. Also, there are many who are running cost conscious. I see more future in small cities with independent houses, Govt/PSU colonies, company townships etc where charging would not be a problem.