Getting EVs past the tipping point

The electric mobility transition is happening at different speeds around the globe, but one number is relatively consistent—over 90% of EV owners worldwide are satisfied with their purchases and driving experience. That’s a key finding from PwC’s recent eReadiness 2025 report, which surveyed about 17,000 drivers in 28 countries. EV buyers are an attractive demographic, with higher incomes than those of most other consumers, but they represent only about 8% of the current car owners’ market. To grow beyond that, automakers need to reduce the purchase price of new vehicles and address concerns about driving range and charging time, among other factors. 

In most countries, the total ownership cost of an EV is already lower than that of a comparable internal combustion engine vehicle. But the upfront purchase price continues to be a more relevant factor. Nearly half of survey respondents say the overall price of the vehicle was the deciding factor for their purchasing decision, and the vast majority of EV prospects (50% to 70%) expect to pay under €40,000 for a new vehicle. 

Automakers seem to be responding. Chinese automakers have now made significant inroads into the global consumer EV market with dependable, competitively priced vehicles. European carmakers are also striving to meet the demand for affordable EVs.

Battery performance will need to improve as well. Among the prospective EV buyers in our survey, half cite charging duration as the top barrier to making an EV purchase, followed by anxieties over battery lifetime (40%) and driving range (35%). What are the thresholds in these metrics? Slightly more than half of our survey respondents globally (52%) say that a 300- to 400-kilometre range is acceptable, provided they can charge their car in under 30 minutes. 

Those numbers vary somewhat by region. In southern Europe, 22 minutes to a full charge is considered acceptable. Drivers in China are happy to wait a full 36 minutes to charge their vehicles. Driving range expectations also vary noticeably by territory, from a low of 370–380 kilometres in Brazil, the UK, India, and the US, to a high of 450–465 kilometres in Norway, France, Slovakia, and China. 

The analysis also points to several recommendations for OEMs in mature markets: 

Innovate to reduce costs. Subsidies in many markets are being phased out, effectively raising prices. Innovation needs to go beyond enhancing product features and shift toward lowering costs, through smarter car designs and streamlined manufacturing processes.

Strengthen customer loyalty.  Develop a broader portfolio of models that appeals to diverse consumer needs, and build lasting customer relationships.

Boost certified pre-owned programmes. Clearly communicate about battery condition—the major factor in assessing a used EV—and provide battery-specific warranties and flexible finance offers for used EVs.

For OEMs in maturing markets:

Introduce affordable, entry-level EVs.  Aim to win over first-time buyers and add (or bundle with) innovative products and services tailored to customer needs, like subscriptions, pay-per-use, and battery-as-a-service.

Invest in marketing.  Strengthen brand presence through targeted local marketing and strategic partnerships.