Acceptability of new energy vehicles set to rise by end of decade: Survey

admin admin | 09-23 16:20

The survey stated that the positive outlook for NEVs in India is being fuelled by the rapid expansion of public EV charging network, with a noticeable presence in major cities and emerging in tier-2 cities.
New Delhi: Majority of new car buyers, who participated in a study, were ready to accept new energy vehicles (NEV) as the only option when considering a purchase by 2030, according to a survey. The buyers would be willing to pay a premium of up to 49% for an electric vehicle above the cost of a comparable petrol/diesel vehicle, a survey from Urban Science and The Harris Poll has revealed.

Around 83% of the 1,000 prospective Indian buyers covered in the global survey said they will consider buying an NEV by the end of this decade.

The survey conducted online by The Harris Poll on behalf of Urban Science received inputs from various markets including India, the US, Australia, China and Germany.

The survey stated that the positive outlook for NEVs in India is being fuelled by the rapid expansion of public EV charging network, with a noticeable presence in major cities and emerging in tier-2 cities.

There are currently over 6,000 charging stations available in India across major cities and along the highways.

This number is expected to increase to over one lakh by 2027.

The positive outlook is also due to the government's proactive policy initiatives for the EV segment, the survey revealed.

It pointed out that India must access the advanced technology and production scale that China has mastered in the EV field.

Opportunity is mounting, but India's EV push faces challenges, especially when compared to China's dominance in the sector, it stated.

China leads in producing lithium-ion batteries, electric motors, and establishing charging infrastructure critical components for the seamless functioning of EVs, survey findings revealed.

Without leveraging this expertise, India's EV ambitions might struggle to stay relevant, it stated.

Collaborating with Chinese companies could be pivotal in accelerating the development of India's EV infrastructure, making electric cars more affordable and accessible for everyone, the survey opined.

China's track record with massive EV projects, such as city-wide electric bus fleets and extensive charging networks, provides a valuable blueprint, it said.

By learning from China's experiences, India can avoid common pitfalls and fast-track its transition to electric mobility, it said.

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.


ALSO READ

Hyundai Motor India lists with record IPO, commits to Indian market with new tech and EV plans

As part of its effort to introduce clean mobility solutions for Indian buyers, Hyundai will launch f...

auto | 7 hours ago

Skoda Auto Volkswagen India plants over 7 lakh trees in Maharashtra for ecological restoration

Additionally, SAVWIPL has installed 18.5 MWp of rooftop solar power at its Chakan facility, which of...

auto | 7 hours ago

Mega Corporation launches Lendingo to enhance EV financing solutions

Mega Corporation on Monday announced the launch of a new division, Lendingo. Mega Corporation on Mon...

auto | 7 hours ago

GreenLine accelerates decarbonisation efforts with 1,000 LNG trucks by March 2025

The government in a recent draft policy proposed to convert a third of long-haul trucks into LNG pow...

auto | 7 hours ago

Remsons Industries acquires 51% stake in BEE Lighting to enhance automotive lighting solutions

Established in 2006, BEE Lighting specialises in automotive headlamps, rear lamps, and various exter...

auto | 7 hours ago

EV Recharge partners with ZEVO for mobile EV charging solutions

EV Recharge’s technology can charge vehicles from 0% to 80% in just 20 minutes, a significant improv...

auto | 7 hours ago