74% EV Owners Plan to Drive Electric for Life: Survey

A recent pan-India survey by Park+ Research Labs reveals that 74% of electric vehicle (EV) owners intend to stick with EVs throughout their lifetime. The survey, conducted among 1,330 new EV owners (who purchased their cars after January 1, 2024), sheds light on the motivations, concerns, and expectations shaping the EV landscape in India.

Top Reasons for Choosing EVs

The survey highlights the following factors that prompted EV adoption:

• Cost Savings (29%): Lower ownership and operational costs emerged as the primary motivator.
• Environmental Benefits (25%): A commitment to sustainability influenced nearly a quarter of respondents.
• Advanced Technology (21%): Many buyers were drawn to the cutting-edge innovations in EVs.

Satisfaction Levels and Challenges

A striking 92% of respondents expressed satisfaction with their EVs, while only 2% reported dissatisfaction. However, several challenges persist:

• Charging Infrastructure (24%): Limited access to public charging points is a significant hurdle.
• Range Anxiety (23%): Concerns about the distance an EV can travel on a single charge remain.
• Charging Time (21%): Long charging durations are a pain point for many.

Confidence Boosters

Key factors that bolstered confidence in EV ownership include:

• Increasing EV adoption on Indian roads (36%)
• Expansion of charging station networks (25%)
• Encouragement from family and friends (22%)

Areas for Improvement

Respondents identified several areas that could enhance the EV ownership experience:

• Accessible and secure public charging points (30%)
• Faster-charging battery technology (29%)
• Reduction in EV prices (24%)

Community Gaps and Opportunities

An overwhelming 71% of owners highlighted the lack of EV clubs and communities as a challenge. Respondents emphasized that forming such groups could improve ownership experiences by fostering knowledge sharing and support among EV users.

Amit Lakhotia, Founder & CEO of Park+, remarked: "The Indian EV journey is still unfolding. Engaging with EV owners to understand their experiences and expectations is crucial. Our survey shows that today’s buyers are well-informed and realistic in their expectations. However, the absence of robust EV communities is a noticeable gap. At Park+, we aim to bridge this by hosting over 25,000 EV owners and facilitating a vibrant community to enhance their ownership experience."