麦肯锡用户研究：消费者视角下的电动汽车转型-New twists in the electric-vehicle transition A consumer perspective

Mcsey

&company

McKinseyCenterforFutureMobility

Newtwistsinthe

electric-vehicletransition:

Aconsumerperspective

Ourannualmobilitysurveyexamineshowconsumerprioritiesandexpectationsareshapingthetransitiontoelectricvehiclesinmajormarkets.

ThisarticleisacollaborativeeffortbyPatrickHertzke,PatrickSchaufuss,PhilippKampshoff,andTimoMöller,withAnna-SophieSmithandFelixRupalla,representingviewsfromMcKinsey’sAutomotive&AssemblyPracticeand

theMcKinseyCenterforFutureMobility.

©GettyImages

April2025

Theautomotiveindustryisamidthelargest

transformationtooccursincecarsbegantoreplacehorse-drawnwagons.Electricvehicles(EVs)

continuetogainmarketshare,carsarebecomingmoreconnected,andautonomousvehiclesare

increasinglystartingtoappearonmorestreets

worldwide.Butthetransitiontonewtechnologieshasnotbeenwithoutchallengesandtwists,

especiallyintheEVsector.Afterrisingrapidlyfor

years,EVsalesgrowthhasslowedinmanyregions.Meanwhile,newcompetitors,especiallythosefromChina,areenteringtheEVmarketandattracting

attentionbyofferinginnovativeandtechnologicallysophisticatedvehiclesthatareoftenmore

affordablethanofferingsfromincumbents.

Alongwithregulation,infrastructurebuildup,

technologyevolution,andmodelsupply,consumersareacentralpieceoftheEVpuzzle,andtheir

behaviorhelpsexplaintheglobaladoption

curve.Consequently,OEMsandotherindustry

stakeholdersshouldstayclosetothecurrent

consumerpulseonEVstounderstanddemand

patterns,includingregion-specifictrends.Our

MobilityConsumerPulseSurvey,conducted

annuallyinmajorautomotivemarketsworldwide

since2016,shedslightonsomeofthemostrecentmarkettwists,includingtheimpactofChinese

EVs,vehiclefeaturesthatconsumersfindmost

compelling,andtheperceivedobstaclesthat

makebuyershesitanttotransitionfromaninternalcombustionengine(ICE)vehicletoanEV.(For

moreinformationonthesurvey,seesidebar,“Ourmethodology.”)The2025surveyisstillongoing

andwilleventuallyincluderespondentsfromninecountries.Thisarticlecontainsinsightsgatheredduringthefirstwave,whichincludedrespondentsfromChina,Europe,andtheUnitedStates.

IntenttopurchaseanEVvaries

byregion,andthedifferencesareincreasing

AlthoughEVuptakehasincreasedworldwide,ithasalwaysvariedbyregion.In2024,forinstance,about50percentofvehiclessoldinChinawereEVs.Of

these,28percentwerebatteryelectricvehicles

(BEVs),15percentplug-inhybridelectricvehicles

(PHEVs),and6percentextended-rangeelectric

vehicles(EREVs).Chinaistheonlymarketwhere

EREVsarenowavailableatscale.Bycontrast,EVsaccountedforonly21percentofvehiclessoldin

Europe(14percentBEV,7percentPHEV).1EVsaleswerelowestintheUnitedStates,at10percent(8

percentBEV,2percentPHEV),withuptakevaryingvastlybystateandregion.2

1

2

Europe,inthisarticle,referstothefourcountrieswhereoursurveywasconducted:France,Germany,Italy,andtheUnitedKingdom.BasedondatafromEVVolumes,S&PLightVehicleSales,andMcKinseyCenterforFutureMobility.

Ourmethodology

The2025McKinseyMobilityConsumerPulseSurvey,whichisbeingconductedonline,beganinFebruary2025andisongoing.Asofmid-March,wehaveanalyzedsurveyresponsesfrom19,491mobilityusersacrosssixmarkets:China,France,Germany,Italy,theUnitedKingdom,andtheUnitedStates.Thesecondwave,whichwillincluderespondentsfromIndia,SaudiArabia,andthe

UnitedArabEmirates,willconcludeinApril.

Thesampleincludesabout3,000carownerspermarket,ofwhich1,000wereEVowners.Whenaveragesareshown,thedataisweightedtorepresentcarparcmarketshares.ThesamplecompositionofEVownersandICEownersisrepresentativeofbrandmarketsharesineachcountry,aswellasrepresentativeofdemographics.

TheMcKinseyCenterforFutureMobilityhasconductedthissurveysince2016.

2Newtwistsintheelectric-vehicletransition:Aconsumerperspective

Acrossregions,EVpurchaseintentishighest

amongcustomerswhoalreadyhaveexperience

withanEV.Surprisingly,thisalsoincludesmulticarhouseholdsthatcurrentlyhaveanICEanda

BEV,withthemajorityindicatingtheywillreplacetheirICEwithaBEVastheirnextcar.ThisfindingcontradictsthecommonlyheldassumptionsthatBEVsareonlyusedasthesecondaryhousehold

car,drivenforshortertrips,andthatconsumers

maykeepanICEasbackupintheirgarageforever.

EVuptakeislikelytocontinuetogrowacross

regions.InChina,45percentofrespondentsstatethattheirnextcarwillbeaBEV;thiscompareswith23percentinEuropeand12percentintheUnited

States.Inadeparturefromcurrentsalestrends,

customerintenttopurchaseaPHEVishigherthanintenttobuyaBEVintheUnitedStatesandEurope,anditisalmostashighasBEVintentinChina.

ThesefindingshighlightthecontinuedrelevanceofhybridsintheEVtransition(Exhibit1).3

3Statedintentinasurveycannotbedirectlytranslatedtoactualsalesbecauseofstated-intentbias,meaningsurveyrespondentstypicallyoverestimatetheirpurchasebehaviorbecausetheydonothavetospendrealmoneyinasurvey.Mostlikely,actualEVsaleswillbebelowtheintent-to-purchasenumbers.

Exhibit1

Consumerintenttotransitiontoaplug-inhybridelectricvehicleorabatteryelectricvehiclevariesbyregion.

Electricvehicle(EV)transitionsentiment,¹2025,%ofrespondents

Changevs2024,²

NeverswitchingtoEVs

AfewmoreICE³vehiclesbeforeEV

1moreICEvehiclebeforeEV

NextvehicleaPHEV⁴

NextvehicleaBEV⁵

19

5

25

27

23

percentagepoints

0

–4

–2

+4

+3

32

9

29

17

12

1

–5

–0.1

–1

+4

+1

3

14

37⁷

45

+1

–0.1

–5

+7

–4

Europe⁶USChina

Note:Figuresmaynotsumto100%,becauseofrounding.

1Question:Whichtypeofpowertrainareyouconsideringbuyingforyournextvehiclewhenyoureplaceyourcurrent(electric/combustionengine)model?2ExcludingUK.3Internalcombustionengine.4Plug-inhybridelectricvehicle.5Batteryelectricvehicle.⁶France,Germany,Italy,andUK.⁷Including9%

extended-rangeelectricvehicles.

Source:MCFMMobilityConsumerPulse2025,Feb2025,globaln=25,904,China,Europe(France,Germany,Italy,andUK),andUSn=19,491;dataalsoavailableforIndia,SaudiArabia,andUnitedArabEmirates

McKinsey&Company

Newtwistsintheelectric-vehicletransition:Aconsumerperspective

3

Whenwecomparedtheregionalpatternstothoseinprevioussurveys,wefoundthatthedifferencesamongcountriesaregrowing.

StrongsalesgrowthinChina

ChinahasbeenexperiencingEVgrowthatunbrokenhighlevels,withsalesaccountingformorethan

50percentofallvehiclessoldinsomemonths.

Globally,China’sEVsalesarebyfarthelargest.

SalesandcustomerdatasuggestthatthefutureofChina’smarketwillbeelectric,withmorethan80

percentofChineserespondentsstatingthattheir

nextcarwilllikelybeelectric.Thisdemandsuggeststhatthemarkethastransitionedfrom“regulatory

push”to“consumerpull.”Intheshortterm,hybrids(bothPHEVsandEREVs)willlikelyplayanimportantroleinsupportingthetransitiontoBEVs.

ModerategrowthinEurope

InEurope,theEVshareofnew-carsalesdeclined

slightlyoverthepast18months,goingfrom24

percentin2022to21percentin2024.Therecent

surveyshowsanincreaseoffivepercentagepointsinthenumberofpeoplewhoplantobuyaPHEVorBEVastheirnextvehicle,comparedwiththe2024survey.Despitethisrise,EuropeanEVsalesare

unlikelytobehighenoughtosatisfythemid-to-

long-termregulatorytargetsintheEuropeanUnion.

WhenlookingatspecificEuropeancountries,differenttrendsemerge:

—Germany.Demandfellafterthegovernment

endedpurchasesubsidiesattheendof2023,

butithasrecentlypickedup.(The2025survey

showsanincreaseofeightpercentagepoints

inEVpurchaseintentcomparedwithFebruary

2024.)GermanyisalsotheonlyEuropean

countryinthesurveywhereBEVpurchaseintent,at30percent,outweighsPHEVintent,at18

percent.

—Italy.EVpurchaseintentisgrowingmoderatelyinItaly.Consistentwithpastyears,moreItalianrespondentswantaPHEVthanaBEV:41

percentversus17percent.

—UnitedKingdom.OfBritishrespondents,

25percentstatethattheyplantogetaBEVas

theirnextvehicle,and22percentwantaPHEV,bothofwhichexceedtheUKpurchaseintent

levelsinpreviousyears.

—France.EVpurchaseintentisgrowing

moderately,with21percentofFrenchcarbuyersplanningtogetaBEVand29percentoptingforaPHEV.

AslowtransitionintheUnitedStates

IntheUnitedStates,EVsalesandconsumerinterestinEVpurchaseshaveremainedflatoverthepastfewyears,buttheresultsvarysignificantlybylocation

(bystateandbyspecificlocationwithinastate).In

statesthathaveadoptedtherulesoftheCalifornia

AirResourceBoard(CARB),forexample,38percentofrespondentsstatethattheirnextcarwillbe

electric(BEVorPHEV),comparedwith25percent

innon-CARBstates.EVpurchaseintentishighest

inCalifornia(above50percent)butiswellbelow20percentinabout25otherstates,mostlyintheSouthandMidwest.Thecontrastbetweenresidentsof

urbanandruralareasisequallystark:EVtransitionsentimentinurbanareas(51percent)ismorethan

2.5timeshigherthanthatinruralareas(18percent).PurchaseintentforhybridEVs—bothplug-inandfullhybrids—ishigherthanthatforBEVs.ThesetrendssuggestthattheoverallEVtransitionintheUnited

Stateswillcontinueataslowpace,andICEand

hybrid-electric-vehicle(HEV)technologywillremainrelevantoverthelongerterm.OEMsshouldreview

theirportfoliosaccordingly.

Differenceswithinregions

Whilecustomers’EVpurchaseintentdiffers

acrossregions,thesurveydataalsoshowslarge

discrepancieswithincountries.Aroundtheglobe,

customersinurbanareasaremoreopentoEVs

thanresidentsofruralareasare.Thisdivideislikelyrelatedtoseveralfactors,suchasthedemographicmakeupoftheseregions,withruralcustomers

beingolderandhavinglowerincomes,onaverage,thanthoseinurbanareas,andthesparserpublic

charginginfrastructure.Thedifferenceswithin

countriesorregionscanresultinhypergranular

markets.Forinstance,BEVtransitionintentismuchhigherinwesternfederalstatesinGermanythanineasternstates(Exhibit2).

4

Newtwistsintheelectric-vehicletransition:Aconsumerperspective

Exhibit2

Germanyprovidesanexampleofthesignificantregionaldifferencesinbatteryelectricvehiclepurchaseintent.

Battery-electric-vehicle

High(>40)

Low(<20)

(BEV)transitionintent

inGermany,byfederalstate,%ofrespondentsintending

totransitiontoBEV

Note:Theboundaries,names,anddesignationsusedonthismapdonotimplyo代cialendorsementoracceptancebyMcKinsey&Company.

1Question:Whichtypeofpowertrainareyouconsideringbuyingforyournextvehiclewhenyoureplaceyourcurrent(electric/combustionengine)model?

Source:MCFMMobilityConsumerPulse2025,Feb2025,globaln=25,904,China,Europe(France,Germany,Italy,andUK),andUSn=19,491;dataalsoavailableforIndia,SaudiArabia,andUnitedArabEmirates

McKinsey&Company

Globally,consumerssharesimilar

concernsandexpectationsaboutEVs

Issuesrelatedtorange,price,andchargingcontinuetobetopconcernsforpotentialEVbuyers.FactorsthatwouldconvincerespondentstoswitchtoanEVincludeamorebuilt-outpublicchargingnetwork

andfasterbatteryrechargingspeed.BettervaluestabilityforEVsisalsoaconcern,especiallyasEVtechnologyisstillevolving.

WhenaskedwhatfactorswouldtipthebalanceinfavorofanEVpurchase,alongerdrivingrange

toppedthelistandwascitedbyalmosthalfof

respondents(Exhibit3).Respondentsalsowere

askedtoidentifytheaverageminimumrealdriving

range4thatwouldconvincethemtoconsider

shiftingtoanEV;theiraverageresponseisabout

500kilometers(310miles),upfrom425kilometers

(264miles)inthe2022survey.Manyprospective

buyersareconcernedaboutrangebecausethey

thinkabout“edgecases,”suchaslongvacationtrips,ratherthantheirtypicaldailydrivingbehaviorwhenestimatingtheirneeds.CurrentBEVownerstend

tohaverangerequirementsabout10percentlowerthanthosewithoutEVdrivingexperience.

4

Realdrivingrangereferstotheactualrangeachievedwhendrivingunderreal-worldconditions.ThisistypicallylessthantherangestatedbytheOEM,whichisbasedonperformanceundertestconditions.

Newtwistsintheelectric-vehicletransition:Aconsumerperspective

5

Exhibit3

Severalfactorswouldtiprespondentsinfavorofanelectricvehicle.

Tippingpointsexpectedtocausemoreseriousconsiderationofelectricvehicles(EVs),¹%ofrespondentsfromEurope,²US,andChinawhodonotownanEVyet

100

43

Longerdrivingrangesavailable

35

LowerpurchasepricescomparedwithICE³

29

Availabilityofchargingstationsequivalenttocurrentgasstationnetwork

24

Higherchargingspeed(fastcharging)

18

Fuelpriceincreaseof20%

12

Test-drivingorexperiencinganelectricvehicle

12

MovingintoahouseorplacewhereIcanchargeathome

11

HavingfriendsorfamilyrecommendanEVtome

11

Morestableresidualvalues

11

Regulatoryrestrictions(eg,limitingcitycenteraccessforICEvehicles)

8

Movingtoaregionwithbetterpubliccharginginfrastructure(eg,movingintotown)

1Question:Whatwouldbeatippingpointforyoutomoreseriouslyconsiderorpurchaseanelectricvehiclesoon?2France,Germany,Italy,andUK.

3Internalcombustionengine.

Source:MCFMMobilityConsumerPulse2025,Feb2025,globaln=25,904,China,Europe(France,Germany,Italy,andUK),andUSn=19,491;dataalsoavailableforIndia,SaudiArabia,andUnitedArabEmirates

McKinsey&Company

Costissuesalsorankhighonthelistoftipping

points,with35percentofrespondentsstating

theywouldnotpurchaseanEVunlessitwaslessexpensivethanacomparableICEvehicle.Car

buyerstypicallygivemoreconsiderationtothe

purchaseprice,whichhasasignificantimpactontheirshort-termfinances,thantothepotentiallyfavorablebenefitsfortotalcostsofownership

overtime.

TheBEVrepurchaserateishigh,andrelativelyfewwouldreverttoICEvehicles

Acrossregions,mostcurrentBEVowners

expecttogetanotherBEVfortheirnextvehicle(Exhibit4).Ofthosewhosaytheyplantoswitchtoanothervehicletype,mostpreferPHEVs,andunder10percentwanttoreverttoanICEvehicle.

Newtwistsintheelectric-vehicletransition:Aconsumerperspective

6

Exhibit4

Mostelectric-vehicleownerswouldnotswitchbacktoacombustionenginepowertrain.

Preferredpowertrainfornextvehicle,¹%ofrespondentsbytypeofelectricvehicle(EV)currentlyowned

Europe²USChina

ICE³

7

8

9

9

6

10

13

EREV⁶

16

16

15

PHEV⁴

16

52

31

56

76

76

BEV⁵

65

46

40

34

EVcurrentlyowned:BEVPHEVBEVPHEVBEVPHEV/

EREV

Note:Figuresmaynotsumto100%,becauseofrounding.

1Question:Whichtypeofpowertrainareyouconsideringbuyingforyournextvehiclewhenyoureplaceyourcurrent(electric/combustionengine)model?²France,Germany,Italy,andUK.3Internalcombustionengine.4Plug-inhybridelectricvehicle.5Batteryelectricvehicle.⁶Extended-rangeelectricvehicle.Source:MCFMMobilityConsumerPulse2025,Feb2025,globaln=25,904,China,Europe(France,Germany,Italy,andUK),andUSn=19,491;dataalsoavailableforIndia,SaudiArabia,andUnitedArabEmirates

McKinsey&Company

InChina,13percentwouldpreferanEREV.Acrossgeographies,switchingfromEVtoICEisonly

temporary;under1percentofEVownersstatethattheywillneverbuyanEVagain.

OursurveyalsoshowsthatPHEVownershipisoftenastepping-stonetoaBEVpurchase,withmany

PHEVownersinallregionsplanningtotransitiontoaBEVnext.AswithBEVs,fewPHEVownersplantoreverttoICEvehiclesacrossallgeographies.

EVpurchasecriteriadifferacrossregions

Acrossregions,batteryrangeisthemostimportantfactorforrespondentsconsideringanEVpurchase(Exhibit5).ToappealtoEVbuyers,OEMsmayneedtoprovidemoreinformationaboutdrivingrange,

becausemanyconsumersmistakenlybelievetheirdailyroutinemustinvolvefrequentrecharging,eveniftheytravelshortdistances.EVpriceandchargingspeedarealsomajorpurchasepriorities.

Newtwistsintheelectric-vehicletransition:Aconsumerperspective

7

Exhibit5

Purchasecriteriaforelectricvehiclesvaryacrossregions.

Purchasecriteriaforelectricvehicles,¹

%ofrespondentswhoconsiderelectricvehiclesEurope²

US

Bottom5criteriaTop5criteriaChina

Batterydrivingrange

8

49

9

51

11

38

Purchaseprice

10

47

11

43

19

21

Batteryrechargingspeedcapability

9

38

11

40

11

35

Safetystandards

9

23

9

28

11

35

Vehiclebrand/OEMreputation

18

21

13

22

14

23

Cutting-edgevehicletechnology

18

20

19

18

17

20

Drivingperformanceandhandling

14

20

11

28

11

37

Exteriordesign,look,andcolors

22

18

18

17

20

21

Maturityofadvanceddriverassistancesystem(ADAS)

23

9

28

8

16

21

Connectivityofers/digitalcarexperience

27

8

25

10

17

17

1Question:Whichofthefollowingaspectsarethe5mostimportantforyourpurchasedecisionwhenbuyinganelectricvehicle?Andwhichofthefollowingaspectsarethe5leastimportantwhenbuyinganelectricvehicle?

2France,Germany,Italy,andUK.

Source:MCFMMobilityConsumerPulse2025,Feb2025,globaln=25,904,China,Europe(France,Germany,Italy,andUK),andUSn=19,491;dataalsoavailableforIndia,SaudiArabia,andUnitedArabEmirates

McKinsey&Company

ThedifferingexpectationsshowthatOEMsareno

longerlikelytofindlong-termsuccessbydevelopingaglobalversionofeachvehicle.Instead,theyshouldthoroughlyunderstandcustomerpreferencesineachregionandcustomergroup,includingthevehicle

featuresthatgeneratethemostexcitement,and

thenadapttheirofferingstosuittheseneedswithinthetechnologicalandproductionconstraintsoftheirmodellineup.

Whilerangeandchargingspeedareamongthetop

EVpurchasecriteriainallregions,otherexpectationsdiffervastly.ConsumersinEuropeandtheUnited

Statesmostlyanchoronprice,followedbysafetyand

performance.Bycontrast,ChineseEVbuyersplace

muchhigherimportanceondrivingperformance,

driverassistancefeatures,andcutting-edge

technology.ThesefindingsreflectthatEVsalready

haverelativelylowerpricesthanICEvehiclesinChina.

Thereisalsoasignificantdivideincustomer

expectationsbasedonageandlocationwithin

countries.Aroundtheworld,urbanandyounger

customersfocusonin-cartechnologyandareless

concernedaboutdrivingrange.Bycontrast,ruralandoldercustomershavehigherconcernsaboutrange,

totalcostofownership,andenergyconsumption.

Newtwistsintheelectric-vehicletransition:Aconsumerperspective

8

EVbuyersaremorelikelytoswitchbrandsthanICEbuyers

ManypeoplewhobuyICEvehiclesstickwiththe

samebrand.Acrossgeographies,currentEVownersshowlessloyalty,withthehighestswitchingrate

reportedinChina—almosttwooutofthreecarbuyers,independentofbrandsegment(Exhibit6).Andin

EuropeandtheUnitedStates,switchingratesare

higherforpremiumvehiclesthanforvolumevehicles.

Thesurveyresponsessuggestthatswitchingrates

arehighnotonlybecausebrandisbecomingless

importantbutalsobecausecriticalconcernsabout

EVspecifications,suchasrangeandchargingspeed,areinfluencingconsumers.Consumersfirstsearch

forvehiclesthatmeettheirdesiredspecificationsandthenlookforabrandthatsatisfiesthem.Switching

ratesarelikelytodeclineasmoreEVmodelsthat

meetcustomerneedscomeonthemarket.Inthe

shortterm,however,OEMsmayseechangesin

marketshareunlesstheyintensifytheireffortsto

retaincustomersandofferproductsthatmeettheircustomers’needs.

AmongEuropeansurveyrespondents,24percent

saytheyareinterestedorveryinterestedinChineseEVs.InterestinChineseEVsisalsostrongamongUSconsumers(27percent),eventhoughprotectivetrademeasurescurrentlypreventthesaleofChineseEVs.

Exhibit6

Manyconsumersareopentoswitchingautomotivebrandswhentheytransitiontoanelectricvehicle.

Likelihoodofswitchingbrandwhenmovingtoelectricvehicle,¹%ofrespondents

Europe²USChina

31

31

(Very)likely(5–6)

40

51

65

64

22

Ratherlikely(4)

27

26

21

22

24

47

Notlikely(1–3)

42

34

28

13

12

Volume

brand

owners

Premium

brand

owners

Volume

brand

owners

Premium

brand

owners

Volume

brand

owners

Premium

brand

owners

1Question:Whenbuyinganelectricvehicle,howlikelyareyoutoswitchtoanothercarbrandthantheoneyoucurrentlyown?Likelihoodratedonascaleof1–6,where1is“notatalllikely”and6is“verylikely.”

2France,Germany,Italy,andUK.

Source:MCFMMobilityConsumerPulse2025,Feb2025,globaln=25,904,China,Europe(France,Germany,Italy,andUK),andUSn=19,491;dataalsoavail-ableforIndia,SaudiArabia,andUnitedArabEmirates

McKinsey&Company

Newtwistsintheelectric-vehicletransition:Aconsumerperspective

9

Consumersfocusonprice,somoreaffordableEVsmayboostdemand

ThepricedifferencebetweencomparableICE

vehiclesandBEVscanstronglyinfluenceadoptionrates.InEuropeandtheUnitedStates,onlyaboutathirdofrespondentssaytheyarewillingtopayapremiumforaBEVoveracomparableICEvehicle

(Exhibit7).ManyexpectpriceparityorlowerpricesforBEVsthanfortheirICEalternatives.

Whilesubsidiesmayhelpstimulatedemand,

governmentsmaynotofferthemormay

discontinuethemafteracertainperiod.Foramorelastingapproachtopricereduction,incumbent

OEMscanstrivetolowertheircostbase.

Exhibit7

Willingnesstopayapremiumforelectricvehiclesversuscomparablecombustionenginealternativesismarginalanddiffersbymarket.

WillingnesstopayapremiumforabatteryelectricvehicleoveracomparableICE¹vehicle,²%ofrespondentsconsideringanelectricvehicle(EV)inthefuture

3

4

20%EV15%EV

premiumpremium

4

7

6

14

15

35%of

respondentsaccepting

premium

10%EV

premium

36%

11

50%

10

5%EV

premium

34

32

23

Europe³USChina

7

23

17

Sameprice

5%EVdiscount

10%EVdiscount

15%EVdiscount

21

18

20%EVdiscount

7

3

4

5

6

3

31%

requiring33%

discount

4

28%

6

3

10

Note:Figuresmaynotsum,becauseofrounding.1Internalcombustionengine.

2Question:Howmuchmorewouldyoubewillingtopaytoswitchfromaconventionalcombustionenginecartoafullbatteryelectricvehicle,orwhatadditionaldiscountwouldbeneededforyoutoswitch?

3France,Germany,Italy,andUK.

Source:MCFMMobilityConsumerPulse2025,Feb2025,globaln=25,904,China,Europe(France,Germany,Italy,andUK),andUSn=19,491;dataalsoavailableforIndia,SaudiArabia,andUnitedArabEmirates

McKinsey&Company

Newtwistsintheelectric-vehicletransition:Aconsumerperspective

10

Only33percentofglobalsurveyrespondentssay

theyarelikelyorverylikelytobuyanEVatcurrent

pricelevels(Exhibit8).Butifsubsidiesorother

pricedisruptionsmaketheEVpricescomparabletothoseforICEvehicles,55percentofrespondents

describethemselvesaslikelyorverylikelytomakeapurchase.Thisfigurerisesto63percentifsubsidiesreduceEVpricesbelowthoseofICEvehicles.

InChina,averageEVpricesarenowthelowestofanyregionandoftenbelowthoseforICEvehicles.

ChineseconsumersalsovalueEVsslightlymore

thanICEvehiclesbecauseofseveralfactors,

includingthedrivingexperience.Thesefactors

contributetoamoreadvancedEVtransition

inChinathaninWesternmarkets.China’sEV

landscape—whichischaracterizedbyfast

innovationcycles,increasingmodelvariety,abroadrangeofnewmarketentrants,andaggressive

pricingstrategies—isalsoacceleratingthetransition.

Exhibit8

Lowerpurchasepricescansignificantlyincreaseconsumers’willingnesstopurchaseanelectricvehicle.

Electric-vehiclepurchaselikelihood,¹dependingonpurchasepricelevelvscomparableICE²vehicle,%ofrespondentsinEurope,³US,andChina

(Very)likely(5–6)

33

1.7×vsshareatcurrentprice

44

1.9×vsshareatcurrentprice

55

1.3×vsshareatcurrentprice

63

level

level

level

19

Ratherlikely(4)

19

17

14

49

Notlikely(1–3)

37

28

23

Currentpricelevel

(ie,nosubsidies)

Priceabovethatof

comparableICEvehicle,

despitesubsidies

andtaxbenefits

Price(withsubsidies

andbenefits)thesame

asthatofcomparable

ICEvehicle

Price(withsubsidies

andbenefits)below

thatofcomparable

ICEvehicle

Note:Thedisplayeddataaresurveyresultsrelectingcustomersentiment.McKinseydoesnotmakepolicyrecommendations.Figuresmaynotsumto100%,becauseofrounding.

1Question:Today,electricvehiclesmostlystilltradeatslightlyhigherpurchasepricesthanforcomparablecombustionenginecars.Howlikelyareyoutopurchaseoneat...?Likelihoodratedonascaleof1–6,where1is“notatalllikely”and6is“verylikely.”

2Internalcombustionengine.

3France,Germany,Italy,andUK.

Source:MCFMMobilityConsumerPulse2025,Feb2025,globaln=25,904,China,Europe(France,Germany,Italy,andUK),andUSn=19,491;dataalsoavailableforIndia,SaudiArabia,andUnitedArabEmirates

McKinsey&Company

Newtwistsintheelectric-vehicletransition:Aconsumerperspective

11

OEMsneedtotakecleareractionstoappealtoEVbuyersandunlockdemand

Withrisingcustomerexpectations,incumbents

shoulddoubledownonimprovingboththeir

productsandtheirsalesstrategies.Meanwhile,EVstart-ups,lackinginnamerecognition,shouldbuildtargetedcustome