64% consumers may choose EV as their next vehicle in 2025: TCS study

Among the challenges, cost of vehicles, maintenance, charging time, charging infrastructure, and range were identified as key factors influencing consumer decisions when considering purchasing an EV

More than 6 out of 10 consumers are likely to consider electric vehicles (EV) for their next purchase, a new study by Tata Consultancy Services (TCS) revealed. The study, titled TCS Future-Ready eMobility Study 2025, highlighted that 2025 will be the year of EVs. 

Consumers under 35 are most likely to consider buying EVs. The ones between 18 and 35 years of age were satisfied with the current choice of EVs for sale.  

The study surveyed over 1,300 global EV stakeholders including manufacturers, charging infrastructure builders, commercial fleet adopters, influencers, and consumers. The respondents were spread across North America (USA, Canada), United Kingdom & Ireland, Continental Europe, and APAC (China, India, Japan, ANZ).  

Cost of vehicle, maintenance, charging time and infrastructure, and range were some of the challenges for the consumers. EV consumers ranked battery range as the key feature where they want to see an improvement. 

Reflecting on the shifting consumer mindset, Anupam Singhal, president - manufacturing, TCS, said, “While nearly two-thirds of consumers are open to choosing electric for their next vehicle, manufacturers face challenges like advancing battery technology, complex vehicle designs, and production economics.”