More than half of Indians do not believe that the public infrastructure is equipped for electric vehicles (EVs) so far but more than half of them also want to purchase an EV. Most of the respondents think India will be ready infrastructurally by 2030, as mentioned in a report by insurance company ACKO and YouGov India.
The future of EVs in India is definitely bright, as the report states. More than half, 57 per cent, want to invest in EVs because of the practical benefits, while 56 per cent want to buy an EV because it is good for the environment. However, 60 per cent do not think India’s current public infrastructure is equipped to support EVs and feel that there is a great deal to be desired. Nevertheless, 89 per cent believe that India will be infrastructurally ready by 2030.
The ACKO-YouGov report surveyed from New Consumer Classification System (NCCS) A & B households between the age groups of 28 to 40. These respondents were either owners of an EV or were planning to buy one in the next 12 months.
As many as 66 per cent respondents believe that EVs will surpass petrol and diesel cars and will be able to save money in the long run.
Around 44 per cent said that they want to invest in an EV because of the flexibility it offers, and believe that hybrid and full electric options will give them the best of both the world. Forty-seven per cent said that EVs offer a cut in cost per mile, while 56 per cent said that they want to be part of the responsible change in approach.
For EV owners, their need to do good trumps the benefits they enjoy – 63 per cent of EV owners stated that their choice to go for an EV is part of their effort to reduce their carbon footprint.
Among the intenders, 62 per cent are concerned about increasing fuel prices, while 57 per cent are interested in the latest technology.
But the lack of availability of charging provisions is the biggest deterrent, followed by safety issues that keep making headlines. Forty per cent are concerned about the lack of charging facilities in and around residential spaces. While 40 per cent were worried about EV fires, many were also concerned about the time it takes to charge an EV.
Cost of battery replacement and the frequency of changing is another concern, along with the plausibility of long-distance travel.
Additionally, 41 per cent of EV owners believe that charging takes a lot of time, while 40 per cent are worried about the lack of charging provisions in residential complexes. Forty-three per cent also believe that the driving experience is not as refined as traditional vehicles.
Animesh Das, Senior Director- Motor Underwriting, ACKO said India is the world’s fourth largest car market. The report, he said, aims to understand the perspective on consumers, as well as what manufacturers and intenders would like to know.
There are knowledge gaps when it comes to battery life, and how to put out EV fires. Sixty-three per cent did not know that sand is the most convenient solution to put out an EV fire.
The report stated that there is an urgent need to create awareness around EVs and different aspects related to EVs.
Also read: As India's electric vehicles become more popular, batteries are a big business opportunity
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