More than half of Indians do not yet believe that public infrastructure is equipped for electric vehicles (EVs), but more than half of them also want to buy an EV. Most of the respondents feel that India will be infrastructure ready by 2030, according to a report by insurance company ACKO and YouGov India.
As the report says, the future of EVs in India is certainly bright. More than half, 57 percent, want to invest in an EV because of the practical benefits, while 56 percent want to buy an EV because it is good for the environment. However, 60 per cent do not feel that India’s existing public infrastructure is equipped to support EVs and feel that there is a lot to be desired. Yet, 89 per cent believe that India will be infrastructurally ready by 2030.
The ACKO-YouGov report surveyed New Consumer Classification System (NCCS) A and B households between the ages of 28 and 40. These respondents either owned an EV or were planning to buy one in the next 12 months.
At least 66 per cent of the respondents believe that EVs will leave behind petrol and diesel cars and will be able to save money in the long run.
About 44 percent said they want to invest in an EV because of the flexibility it offers, and they believe hybrid and full electric options will give them the best of both worlds. Forty-seven percent said EVs offer cost reductions per mile, while 56 percent said they want to be part of a responsible change in attitude.
For EV owners, their need to perform well outweighs the benefits they receive – 63 percent of EV owners said their choice for an EV is part of their effort to reduce their carbon footprint.
Of those interested, 62 per cent are concerned about rising fuel prices, while 57 per cent are interested in the latest technology.
But the biggest hurdle is the lack of availability of charging provisions, followed by the safety issues that continue to grab headlines. 40% are concerned about the lack of charging facilities in and around residential areas. While 40 per cent were concerned about EVs catching fire, many were also concerned about the time taken to charge an EV.
Along with the potential for long distance travel, the cost and frequency of battery replacement is another concern.
Additionally, 41 per cent EV owners feel that charging takes a lot of time, while 40 per cent are concerned about the lack of charging provisions in residential complexes. Forty-three percent also believe that the driving experience is not as refined as that of conventional vehicles.
Animesh Das, Senior Director, Motor Underwriting, ACKO, said India is the fourth largest car market in the world. The report, he said, is aimed at understanding the perspective of consumers, as well as what manufacturers and intentions want to know.
There’s a knowledge gap when it comes to battery life, and how to light an EV fire. Sixty-three percent did not know that sand is the most convenient way to put out a fire in an EV.
The report states that there is an urgent need to create awareness about EVs and various aspects related to EVs.
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