EV adoption rises as one in four customers globally likely to buy EV as next car

Electric mobility has been catching on with consumers globally as every one in four global vehicle buyers are ‘very likely’ to buy an electric vehicle (EV) as their next car. The number of consumers likely to buy an EV has more than doubled over the past two years, as per AlixPartners' survey called ‘International Electric Vehicles Consumer Sentiment’

The number of EV buyers globally has risen 11% from two years ago. The reason for the rise in purchase of electric vehicles can be attributed to a number of factors such as fall in prices, increase in driving range and increase in number of charging stations worldwide. However, the total number of EV buyers still remains a small share of all auto customers combined.

There has been a growth in the adoption of electric vehicles globally even as the choice of models has increased with more and more OEMs trying to offer electric vehicles in their car portfolio. Further, the support and incentives provided by governments worldwide along with funding for infrastructure have been crucial for the uptake to grow.

For the report by AlixPartners, it surveyed more than 8,000 consumers in late August across countries accounting for 85% of the global EV passenger-car market last year. As a result, it found that in the US, 19% of 2,054 respondents surveyed were likely to buy an all electric vehicle, an increment of around 5% in 2019.

In China, which is the world’s largest market for electric cars, half of all respondents surveyed called themselves believers in electric mobility, up from 34% in the prior survey.

The survey also found that the range of electric vehicles continues to be the top deciding factor for most consumers globally, with 42% of all respondents putting it as their biggest concern, down from 56% in 2019. The survey also found potential buyers to be more willing to choose a plug-in hybrid if the price premium continues to shrink.

(with inputs from Bloomberg)