The “TCS Future-Ready eMobility Study 2025” found that 64% of consumers in Mumbai are likely or very likely to opt for an electric vehicle (EV) for their next purchase, marking a significant shift towards sustainable transportation. The study surveyed over 1,300 respondents across North America, the UK, Continental Europe, and the Asia-Pacific region. Key findings include:
* Sustainability emerged as a primary motivation for EV adoption, with 63% of influencers aiming to achieve net-zero goals by adopting EVs.
* Consumers are willing to spend up to $40,000 on an EV, but affordability and charging infrastructure remain critical barriers.
* 60% of consumers and 74% of manufacturers identified a lack of adequate charging networks as a key challenge.
* Regional disparities in EV adoption were notable, with 72% of U.S. consumers likely to opt for EVs, compared to 31% in Japan.
* Consumers prioritize range, with 41% seeking 200-300 miles per charge and 31% preferring 300-400 miles.
* Commercial fleets are more willing to pay a premium for EVs than traditional internal combustion engine vehicles.
* The industry faces challenges, including charging infrastructure, affordability, and technological advancements in battery performance.
Despite these challenges, the study highlights a positive outlook for the industry, with 90% of manufacturers believing improvements in battery range and charging speed will impact EV design and performance.