Abstract:

Nurturing the EV ecosystem at a time when the market has seen contraction can be a daunting task. Moreover, resources are limited, and they need to be leveraged carefully and with precision. At this stage, while the supply side is slowly evolving despite major concerns around incremental investments, the demand side will need to be boosted quickly. In doing so, the consumer will have to be made the central theme while designing strategies and policies. The scope of this paper was limited to a specific passenger vehicle segment in India, and the survey was designed to understand (a) how consumers make decisions while buying passenger vehicles, and (b) the difference between the stated and inferred (if not revealed) preferences of consumers towards EVs. Finally, while this study focused on a relatively small segment of vehicles and consumers, it will be important to carry out a wider analysis of consumer needs across all segments. Such a study would not only help the Government in designing better strategies and policies for adoption, but also provide a thorough understanding of what the private sector can do to improve adoption, target specific consumer groups, and improve their sales.