About 90% consumers in India willing to pay a premium for buying EV: Survey

With global electric vehicles (EVs) sales expected to boom in the next 12 months, nearly 90 per cent of consumers in India are willing to pay a premium for buying an EV, according to a survey by consultancy firm EY.

The EY Mobility Consumer Index (MCI), a survey of more than 9,000 respondents from 13 countries, including 1,000 respondents from India, also found that 40 per cent of the respondents were ready to pay a premium of up to 20 per cent. The survey concluded in the second half of July.

“Among the car buyers in India, 3 in 10 respondents would prefer to buy an electric/hydrogen vehicle,” the survey said.

A majority of the respondents surveyed in India consider a driving range of 100 to 200 miles from a fully charged EV, EY said.