Consumers’ Perception on EV:

Electric vehicles (EVs) have the potential to assist India reduce pollution, carbon emissions, and
its reliance on oil. It's no surprise, then, that policymakers and environmentally conscious
citizens are increasingly curious about expanding EV adoption in recent years. The government's
policies and sales targets for EVs have also boosted production and adoption in India.
In the financial year (19-20), 3,400 electric cars and 1.52 lakh electric two-wheelers were sold in
India, consistent with the Society of Manufacturers of electrical Vehicles (SMEV). Total sales
increased by 20% compared to the previous financial year. Despite the government's efforts, EV
penetration in India remains low.
To better understand consumer perceptions of EVs in India, TERI conducted a web survey that
considered a spread of things that influence vehicle purchase decisions. consistent with the
survey results, there's a big difference between those that own an EV and people who don’t. EV
owners place little value on the supply of a used-car market and therefore the vehicle's resale
value, which were among the problems addressed within the survey. The disparity in consumer
perception between the 2 groups is directly associated with EV knowledge and knowledge. The
survey results also show that household income is statistically insignificant and has no pertaining
to EV purchase decisions.
Consumer expectations from EVs were discovered to vary counting on several factors, one
among which was the respondent's age bracket. consistent with the survey, 41 percent, and 71
percent of respondents under the age of 25 considered the existence of an EV used-car market
and vehicle resale value to be important. These customers are more likely to get a vehicle from
the used-car market, therefore the initial cost of a second-hand EV isn't a serious concern for
them. this is often due to the income level and therefore the desire to exchange existing vehicles
daily.
The ability of EVs to travel a shorter distance than combustion Engine (ICE) vehicles has an
impression on consumer perception and highlights the critical issue of range anxiety. However,
the EVs currently on the market can make short and medium-distance trips with ease.
In India, consumer perception of electrical vehicles remains low in comparison to ICE vehicles.
Range anxiety, a scarcity of charging infrastructure, an outsized price difference between EV and
ICE vehicles, and a scarcity of assurance about satisfactory resale value all play important roles
during this. Indian consumers are more hospitable adopting e-mobility than ever before, there's
still a negative perception of EVs.