New Launch14 Jan 2025, 04:01 pm
2025 to be the year of electric vehicles: 64% of Consumers Likely to Choose EV as Their Next Vehicle, reveals TCS global Study
AI Summary
A new study by Tata Consultancy Services (TCS) reveals that more than 6 out of 10 (64%) consumers are likely or very likely to consider an electric vehicle (EV) for their next purchase. The study also highlights that while 60% of consumers said charging infrastructure was a major challenge, 56% were ready to pay up to $40K for an EV. Sustainability and lower operational costs were key factors driving EV adoption.
Key Highlights
- 64% of consumers likely to choose EV as their next vehicle
- 56% of consumers willing to pay up to $40K for an EV
- Charging infrastructure is a major challenge
- Sustainability and lower operational costs drive EV adoption
- Commercial fleets see reducing operational costs as a primary motivation for EV adoption