June 28, 2024 – Based on a recent market study conducted by McKinsey, a noteworthy trend has emerged in the European electric vehicle (EV) market, indicating that 27% of EV consumers prefer Chinese brands.
While the report did not specify the precise reasons behind this preference, the industry has taken keen notice of this growing sentiment.
Furthermore, the study revealed that 38% of respondents who do not currently own a new energy vehicle are considering a pure electric or plug-in hybrid model for their next purchase.
In making their purchasing decisions, 21% of consumers cited autonomous driving capabilities as a crucial factor, while 59% of current EV owners emphasized the importance of vehicle-to-everything (V2X) connectivity when considering their next vehicle.
However, despite the growing momentum in the EV market, over 60% of consumers remain hesitant about purchasing plug-in hybrids or pure electric cars.
The study highlighted several key barriers to EV adoption, including unfamiliarity with the technology, high costs, concerns over range anxiety and charging infrastructure, difficulties with home charging, and skepticism towards new technologies.
Notably, range anxiety and charging infrastructure are significant concerns, with 42% of skeptical consumers in China expressing these worries, while 43% in Japan are troubled by the inability to charge their vehicles at home.
