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A new study by Tata Consultancy Services (TCS) reveals that more than 64 per cent of consumers are likely or very likely to consider an electric vehicle (EV) for their next purchase in 2025.
For over two decades, TCS has been a strategic partner to original equipment manufacturers (OEMs), supporting their transition from ICE to EV technology. The company has helped deploy battery management system (BMS) software for over 500,000 EVs globally and assisted in establishing EV charging infrastructure across 75-plus countries for OEMs.
The study, which surveyed over 1,300 stakeholders across North America, the UK and Ireland, Continental Europe, and the Asia-Pacific (APAC) region, highlights key trends shaping the future of sustainable mobility.
The findings were published in the TCS Future-Ready eMobility Study 2025, and released at the Detroit Auto Show in Michigan, US.
Key findings of the report show a growing preference for EVs
While enthusiasm for EVs continues to grow, the report also identifies significant barriers to adoption, including concerns about charging infrastructure and vehicle costs.
“The future of mobility is electric, connected, and sustainable — a transformation that will redefine industries and communities alike,” said Earl Newsome, global chief information officer at Cummins, one of the participants in the study. “The report provides a powerful lens into the challenges and opportunities shaping this journey, emphasizing the critical roles of resilience, innovation, and collaboration.”
Sustainability and cost savings remain the primary drivers for consumers opting for EVs.
However, 60 per cent of consumers cited charging infrastructure as a significant hurdle. On the other hand, 56 per cent expressed willingness to pay up to $40,000 for an EV.
Despite these challenges, 53 per cent of commercial fleet adopters are optimistic about EV adoption, driven by lower operational costs compared to traditional internal combustion engine (ICE) vehicles.
“The electric vehicle industry is at a defining crossroads, navigating the complexities of scale and transformation,” said Anupam Singhal, president of Manufacturing at TCS. “While nearly two-thirds of consumers are open to choosing electric for their next vehicle, manufacturers face challenges like advancing battery technology, complex vehicle designs, and production economics.”
Addressing the key challenges, the study found that 74 per cent of EV manufacturers view inadequate charging networks as the biggest barrier to industry growth.
However, 55 per cent of manufacturers have already started investing in battery technology innovation, while 78 per cent are focusing on cost reduction to make EVs more accessible to consumers.
Additionally, 90 per cent of manufacturers believe improvements in battery technology will significantly enhance the range and charging speed of EVs shortly.
Read: UAE to install over 500 EV charging stations by year’s end
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