eReadiness 2024

The electric mobility transition is well underway. What are the key demand drivers and barriers for consumers? Which countries are best prepared?

The 5th edition of the eReadiness survey provides updated perspectives on the short-term development of the e-mobility business in 27 markets. The study explores consumer readiness for Electric Vehicles (EVs), categorizing them into EV Owners, Prospects, and Sceptics.

Key findings include:

Interest in EVs is rising: Over 60% of respondents plan to buy an EV within the next 5 years, with significant regional variations. High interest is observed in China, India, Indonesia, LATAM, Middle East, and Africa (70-80% Prospects), while countries like Japan show lower interest (20% Prospects).
Soaring satisfaction: Current EV Owners, representing 5-7% of respondents, are typically younger, higher-income males with private parking access. Satisfaction is high (93%), mainly due to charging times, driving experience, and lower operating costs.
A nascent but growing used market: The used EV market is still nascent with only 10% ownership. However, the outlook is positive with 30-50% of current EV owners willing to consider a used EV, especially in lower-income regions.
Barriers to adoption: Key barriers include charging duration, battery life uncertainty, limited range, and lack of public charging infrastructure. Private parking is crucial, with 65% of owners relying on it, especially in Australia (88%) and Indonesia (72%).
Adoption drivers: Key to promoting EV adoption are vehicle pricing, Total Cost of Ownership (TCO), new ownership models, government incentives, and wide availability of charging infrastructure.
Next EV customers: Dreamers, Technology Enthusiasts, Luxury, Mainstream and Frugal are the 5 personas identified by our survey. Technology Enthusiasts and Dreamers are the most inclined to purchase EVs, accounting for 30-50% of the demand. In Europe and North America, the Mainstream group shows a growing interest, with almost 60% interested in purchasing an EV.

KPIs

31% of the surveyed consumers expressed no interest in buying an EV within the next five years due to long charging time, uncertainty about the battery lifetime and limited range.

Deployment of public charging infrastructure is a key enabler for a mass-market adoption of EVs as 60-70% of EV owners relies on private solutions to charge their vehicle.

Northern EU countries are the most eReady ones for a mass-market adoption, while Middle East, Slovakia and South Africa appears to be the least mature for e-mobility.