When it comes to buying a new car, people often consider things such as cost, fuel economy, and dependability ratings to influence their purchase. However, it appears that electric vehicles are now becoming a higher priority for a majority of consumers as well.
According to a recent study, 64% of consumers reported that they will likely or very likely buy an EV as their next car. The survey, conducted by Tata Consultancy Services, was completed by over 1,300 respondents worldwide.
These respondents hailed from 18 different countries and worked in 12 industries that TCS claims "represent the EV stakeholder segments that are most crucial for a successful transition," the study reads.
Among the industries were EV manufacturers, influencers, and prospective shoppers. The age range of the respondents varied from as young as 18 years old to over 55 years old. The results of each demographic showed an increased interest in EVs in younger age groups.
Over 75% of the respondents between the ages of 18 and 35 revealed that they would be likely or very likely to purchase an EV as their next car.
When asked about their satisfaction with the current options of EVs on the market, 55% of respondents across all age groups were at least satisfied.
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According to M.S. Krishnan, professor and faculty director at the Stephen M. Ross School at the University of Michigan, the data from the respondents may be invaluable. "This TCS study offers rich insights about the recent trends in the eMobility ecosystem for all stakeholders," Krishnan said. "It covers both the demand and supply side perspectives very well, making it a well-rounded set of insights."
As reported by Kelley Blue Book, the average price for electric cars was $55,273 in February 2025. That compares to gas-powered vehicles coming in at $48,039, which means the price gap is continuing to decrease.
Not only are electric vehicles becoming more affordable, but their reduced impact on the environment can contribute to lower pollution and cleaner air. We offer an easy-to-follow guide on purchasing EVs to see if the switch is right for you.
"The future of mobility is electric, connected, and sustainable — a transformation that will redefine industries and communities alike," says Earl Newsome, the Global Chief Information Officer at Cummins.
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