82.9% of shoppers in the ₹20–50 lakh annual household income segment want EV prices close to conventional vehicles if subsidies are removed
Battery replacement costs are the leading concern among hesitant EV shoppers, while higher-income buyers remain price-sensitive if subsidies are removed. These are among the findings of “The Great Indian Switch,” a study by PulseAI Research, the consumer intelligence and insights division powered by Smytten, based on a survey of 1,300 consumers across India covering two-wheelers and four-wheelers. Among reluctant and undecided shoppers, battery replacement cost is the most cited concern at 23.2%, followed by battery safety or fire concerns at 20.9%, long charging times at 20.1%, and battery degradation at 19.8%. Lack of convenient charging is cited by 17.8%, compared with 13.5% for upfront purchase price. An eight-year battery warranty is the most preferred trust-builder among reluctant shoppers at 30.7%, closely followed by long-term reliability data at 30.4%. Low-interest EV loans and free or discounted charging packages follow at 28.1% and 27.5%, respectively.
Repeat purchase intent varies with daily usage
Among current EV owners, willingness to choose an EV again is higher among those travelling longer distances daily. 80% of owners travelling more than 60 km a day are likely or very likely to choose an EV again, compared with 41.7% of those travelling under 10 km. Positive ownership experiences also vary by daily travel, from 32.3% among those travelling under 10 km to 67.5% among those travelling more than 60 km. These findings show an association between usage and ownership experience, rather than establishing that higher usage causes greater satisfaction. Overall, 48.1% of primary EV owners describe their experience positively, 38% are neutral, and 13.8% report a negative experience or regret. Commenting on the findings, Siddhartha Nangia, Co-Founder, Smytten & PulseAI Research, said: “The EV market is moving from curiosity to conversion, and that is where the data becomes more nuanced. Our research shows that the same consumer can be enthusiastic about electricity, cautious about price, and still uncertain about ownership. PulseAI Research is designed to surface these contradictions so brands can act on the real decision drivers, not just the obvious ones.”
Fuel economics and household exposure shape consideration
Among active vehicle shoppers, 50.1% are seriously considering an EV, while 49.9% remain undecided or unlikely to choose one. 72.5% of EV-ready shoppers say petrol and diesel price volatility would increase their interest in an EV. The report also finds that 68% say learning about E20 petrol increases their interest in EVs. Household exposure is associated with greater consideration. Among conventional-vehicle shoppers who already have an EV at home, 77.4% are seriously considering an EV, compared with 41.4% among those without one. The study also finds that 53.5% of consumers consider hybrids an attractive transition option.
Methodology
PulseAI Research surveyed 1,300 consumers across India, including current EV owners, ready-to-switch shoppers, and reluctant or undecided shoppers. The study covered two-wheelers and four-wheelers, with findings analysed by age, gender, city tier, annual household income, current vehicle, daily travel and EV consideration. The sample comprised 57.8% women and 42.2% men, with 67.0% of respondents from Tier 1 cities, 24.5% from Tier 2 cities and 8.6% from Tier 3 cities.
