A recent survey, although a limited number, conducted by Park+ has revealed significant insights into the mind-set of electric vehicle (EV) owners in India. The survey, which included responses from 500 EV car owners in Delhi NCR, Mumbai, and Bangalore, highlighted several challenges faced by the EV community. Despite the growing adoption of EVs, with nearly 91,000 electric passenger vehicles sold in India during the Financial Year 2023-24, a notable 51% of respondents expressed a desire to switch back to internal combustion engine (ICE) vehicles.
The survey found that 88% of EV owner’s experienced charging anxiety, surpassing the more commonly discussed range anxiety. Despite the presence of over 20,000 EV charging stations across India, users reported difficulty in locating accessible, safe, and operational charging points. This issue has overshadowed range concerns, particularly as most EV owners limit their trips to short intercity drives under 50 kilometres.
Another significant concern was the high cost of EV maintenance. About 73% of respondents indicated that understanding and maintaining their EVs felt like dealing with a 'black box.' Local mechanics often lack the expertise to address minor issues, leaving owners without clear repair options or second opinions from multiple shops. This uncertainty around maintenance costs has added to the dissatisfaction among EV owners.
Declining Resale Value & User Dissatisfaction
A dramatic drop in resale value emerged as a major worry for 33% of respondents. When attempting to assess their EV’s resale value, many owners found it significantly lower than expected. The resale market for EVs in India is still maturing, and unlike ICE vehicles, which can be easily valued based on age and mileage, EVs lack standardized tests to determine battery quality, which accounts for 30% of the vehicle's value.
This combination of high maintenance costs and low resale value has contributed to a general dissatisfaction among EV owners. As a result, 51% of the surveyed EV owners indicated they would not purchase another EV and would prefer to revert to ICE vehicles. This sentiment reflects the industry's current challenges in handling second-hand EVs.
Despite the issues, some EV models have gained popularity. The TATA Nexon EV emerged as the top choice among respondents, with 61% favouring it, followed by the TATA Punch EV at 19%. TATA EVs were also rated highest in terms of design, durability, and safety. BYD attracted significant attention, but respondents cited high pricing and limited test-driving opportunities as major drawbacks.
Amit Lakhotia, Founder & CEO of Park+, stated “At Park+, our main business objective is to bring delight back to car ownership. This survey helps us understand the mind-set of EV car owners in India. Charging anxiety has overtaken range anxiety by a huge margin. As the largest EV charger installer in the country, we will continue to invest our energies in enhancing the EV car ownership experience throughout the vehicle’s lifecycle and look forward to partnering with other stakeholders to support us in this endeavour.”