A recent study conducted by Tata Consultancy Services (TCS), a global leader in IT services and business solutions, reveals that 64% of consumers are likely or very likely to consider an electric vehicle (EV) for their next purchase. The TCS Future-Ready eMobility Study 2025 offers an in-depth analysis of how EVs are influencing the future of sustainable mobility, shedding light on both opportunities and challenges within the EV industry.
Consumer Sentiment and Spending
Despite the growing interest in EVs, challenges surrounding infrastructure and costs remain significant barriers:
- Charging Infrastructure: 60% of respondents identified inadequate charging networks as a major hurdle.
- Affordability: 56% of consumers expressed a willingness to pay up to approximately RM186,400 for an EV.
- Range Expectations: Preferences for EV range varied, with 41% favouring a range of 322–483km per charge and 31% preferring 483–644 km.
The survey encompassed over 1,300 participants from North America, the UK, Europe, and the Asia-Pacific region, including transport manufacturers, charging infrastructure providers, fleet adopters, consumers, and EV adoption influencers.