TCS study finds growing consumer interest in EVs

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A new study by Tata Consultancy Services (TCS), a consultancy based in India, reveals that 64% of global consumers are likely or very likely to purchase an electric vehicle (EV) for their next car.

The TCS Future-Ready eMobility Study 2025 highlights both the opportunities and challenges shaping the future of sustainable mobility.

Key motivations for EV adoption include sustainability and lower operational costs, with 63% of influencers citing environmental benefits as their primary reason. However, 48% of EV influencers expressed concerns about the net environmental impact of EVs, and 10% believe EV adoption negatively affects the environment.

Key findings from the study

• Battery Technology Improvements: 90% of EV manufacturers and 84% of influencers said optimising battery range and charging speed would significantly enhance EV performance.
• Charging Infrastructure: 74% of manufacturers view the lack of charging infrastructure as the most significant barrier to market growth.
• Regional Trends: While 72% of US consumers are likely to consider an EV, only 31% of Japanese consumers expressed similar interest.
• Range Expectations: 41% of consumers identified a 200-300 mile range as acceptable, while 31% preferred 300-400 miles.

Anupam Singhal, President of manufacturing at TCS, emphasised the importance of overcoming these hurdles: “The electric vehicle industry is at a defining crossroad. Manufacturers face challenges like advancing battery technology, vehicle designs, and production costs. TCS’s Future-Ready Mobility vision leverages AI and generative AI to create scalable, sustainable solutions and accelerate global adoption of EVs.”

Commercial fleets remain a bright spot, with 53% of fleet operators prioritising lower operational costs and showing a willingness to invest more in EVs compared to internal combustion engine (ICE) vehicles.

Industry investment in EV technologies

The study also highlighted that 55% of manufacturers are actively investing in battery technology, while 78% are focused on reducing vehicle costs to meet consumer demand. The EV sector is also bracing for significant consolidation, with 72% of charging infrastructure providers anticipating mergers to address scaling and financial challenges.

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