Budget 2024 survey: What’s stopping Indians from buying EVs?
Electric vehicles are set to charge up India’s roads in the coming years. The sector achieved a milestone by surpassing 1.5 million unit sales in calendar year 2023.
EV penetration, however, remains relatively low, constituting only about 1% of total car sales in the country at present, despite the government’s push in the form of various incentive schemes. The adoption of 4-wheeler EVs for private use remains limited, with only a small number of Indian buyers going electric thus far.
Going by the findings of a pre-Budget ET Online survey, the answer is the lack of charging infrastructure. In the survey, 51.7 per cent of the respondents said that in order to expedite EV adoption in India the government must improve charging infrastructure. The Indian buyer’s hesitation has primarily to do with inadequate charging infrastructure in the country.