The global auto industry is at a point of inflexion with both consumers and administrations marching ahead and proactively adopting greener modes of transportation. The electric mobility movement in India has also benefitted from these global tailwinds, but the EV movement is yet to set sail. The automotive industry in India is at a crossroad between continuing on the usual course or taking bold steps and leapfrogging into the new realm; from personal mobility to shared mobility and from petroleum-based mobility to electric mobility. The first wave of electric vehicles (EV) that were introduced around 2010-11 were two-wheelers from little known start-ups, and they failed to create major inroads. There are exceptions like Reva and e-rickshaws, which succeeded in creating a market for electric four-wheelers and three-wheelers respectively.
Major players in the EV ecosystem are also bewildered by the frequent change in tone of administration and the rhetoric around policy and regulatory aspects related to the electric vehicle. This market study report was commissioned by an automaker to examine the main reasons for the poor reception for EVs in India and to define a baseline case for the current EV market in India. Questionnaire-based surveys were conducted in 10 Indian cities (Tier-I and Tier-II), and around 6000 participants were interviewed and their responses were recorded.
Statistical analysis and Socio-economic analysis of the survey data has been conducted and these insights have been used to develop the go-to-market strategy for EV automakers.
Pan India market study was conducted to gain a first-hand understanding of consumer perceptions about EVs for Renault Nissan India. Around 6000 participants were interviewed one on one using questionnaire-based surveys across 10 Indian cities (7 Tier-I and 3 Tier-II), and their responses were recorded. 10 cities were shortlisted from among a list of over 30 cities based on Social, Economical, Political and Technical parameters.
Assessment of consumer responses to multiple demographic, socio-economic and technical parameters was performed to examine the main reasons for the poor reception for EVs in India. It was found out that consumers are very sensitive to the availability of EV infrastructure, EV range etc. and were less sensitive to EV price, availability of incentives, availability of variants etc.
We also defined a baseline case for the current EV market in India and estimated the sensitivity of market demand to these market parameters. Analysis of price elasticity of consumers with improved awareness and EV infrastructure was also conducted. Key findings of this study have been presented at the India Smart Utility Week Conference (ISUW) in March 2019.
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