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Despite climate change concerns, rising fuel costs, only 5% in India, US keen on EVs: Survey

Despite climate change concerns, rising fuel costs, only 5% in India, US keen on EVs: Survey

Despite climate change concerns, rising fuel costs, only 5% in India, US keen on EVs: Survey
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By CNBCTV18.com Jan 15, 2022 9:55:39 PM IST (Published)

In India, 58 percent of consumers said they wanted to stick to petrol or diesel-powered vehicles, while 21 percent preferred hybrid electric vehicles.

Electric vehicles are seen as the future of mobility, but most consumers, especially in the US, remain aligned to familiarity and affordability, choosing to buy their next car powered by internal combustion tech, revealed a survey.

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While 69 percent consumers in the US plan to buy internal combustion engine (ICE) vehicles, only 5 percent have shown interest in buying all-electric vehicles, a new survey by Deloitte revealed.
Consumer interest in battery electric vehicles was the highest in South Korea (23 percent), China (17 percent) and Germany (15 percent), the survey, which had 26,000 respondents from 25 countries, showed. Among alternative powertrains, Japanese consumers showed a preference towards hybrid electric vehicles (48 percent) followed by South Korea (35 percent). In the US, 17 percent consumers voted for hybrid-electric vehicles.
In India, 58 percent of consumers said they wanted to stick to petrol or diesel-powered vehicles and 21 percent preferred hybrid electric vehicles. Only 5 percent Indian consumers showed interest in buying battery electric vehicles.

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According to the survey, most people are attracted to EVs expecting lower fuel costs. But the price tags of EVs discourage many buyers.
However, concerns about climate impact and a desire to reduce carbon emissions are also driving more people in the US, Germany, Japan, South Korea, India and Southeast Asia to switch to electric vehicles.
One of the primary causes of poor adoption of EVs is that a majority of consumers do not wish to pay more than $500 for advanced technologies including alternative powertrains. They are also unwilling to pay more for advanced features such as enhanced safety, autonomous driving and connectivity.


According to the survey, the COVID-19 pandemic has severely impacted decisions of car-buying consumers in India and Southeast Asia. About 45 percent of consumers in India said they wanted to buy a vehicle to avoid public transportation.
Electric vehicles are getting the policy push from governments and sales are picking up. However, high market penetration requires major shifts in public confidence, Axios reported.
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