How understanding consumer mindsets can drive EV enthusiasm

Advanced Manufacturing and Mobility Business Minute

In this episode, EY Global Advanced Manufacturing and Mobility analysts Gaurav Batra and Menaka Samant share insights from the 2023 EY Mobility Consumer Index.

The Mobility Consumer Index (MCI) is an annual study conducted by EY Global Advanced Manufacturing and Mobility. The study reviews and assesses the latest trends and patterns in the mobility sector. The latest edition of MCI surveyed over 15,000 consumers in 20 countries.

In this episode of the Advanced Manufacturing and Mobility Business Minute podcast, Gaurav Batra, EY Global Advanced Manufacturing & Mobility Analyst Leader, and Menaka Samant, EY Global Advanced Manufacturing & Mobility Analyst, explore the shifts in the mobility landscape, with a focus on EV adoption and acceptance. They discuss the broad themes that emerged from the latest edition of MCI research, identify five EV customer personas and share three no regret moves that will help move consumers toward EV adoption.

Key takeaways:

• More than half (55%) of the survey respondents are planning to purchase a fully electric, hybrid or plug-in hybrid vehicle over the next two years.
• SUVs have emerged as the most preferred body type for potential EV buyers across geographies.
• While range continues to be a major factor driving the hesitancy in buying an EV, lack of charging infrastructure, upfront purchase costs and inadequate charging stations also play a crucial role.
• To alleviate consumer uncertainty regarding the EV ownership experience, continued education should be provided.