The electric vehicle transition has been among the most significant transformations in mobility.
But the rapidly shifting winds leave a baffling picture – where, exactly is the EV industry? And what are the next steps for EV stakeholders?
To help better understand what lies ahead, TCS conducted a global survey of more than 1,300 respondents from across the five segments most crucial to the EV transition’s success.
In this key findings report, we explore how these stakeholders are navigating the transition in the following areas:
From established automakers to innovative startups, component suppliers to battery manufacturers, the EV makers are revolutionizing transportation with cutting-edge electric vehicle technology and sustainable solutions.
But nearly three-quarters (70%) of EV manufacturers don’t expect another significant breakthrough in battery technology to reach the market for at least another two years.
Balancing environmental aspirations with practical considerations, the Shoppers are driving demand for electric vehicles.
Despite the headlines, consumer interest is surprisingly strong.
64% of consumers worldwide say they’re likely or very likely to consider purchasing an EV as their next vehicle.
Nearly half of consumer survey respondents say the sweet spot for an acceptable EV range on a single charge is 200-300 miles.
Encompassing both charge point operators and utilities, the Chargers are building the backbone of electrified transportation, powering the EV revolution one station at a time.
A majority of charging infrastructure builders are actively seeking partnerships between manufacturers, energy, retail and commercial property owners and government entities to scale their infrastructure.
72% of EV charging infrastructure players expect significant consolidation in their space, driven by financial viability and scaling challenges.
From logistics giants to local delivery services, the Dispatchers are electrifying commercial fleets, driving sustainable mobility into the heart of business operations.
Beyond environmental benefits, there is a growing belief among commercial fleet adopters in the business value of EVs through long-term cost savings.
When it comes to reporting and measurement, only half of fleet adopters treat EV adoption as a strategic or reported goal.
Policymakers and researchers, urban planners and advocacy groups, the Influencers are shaping public opinion, policy, and industry direction in the electric vehicle ecosystem.
More than a third (37%) of EV influencers expect EVs to represent the majority of sales globally within the next one to five years. And 58% expect the majority of new vehicles in their country will be EVs within the next one to five years.
EV influencers consider financial incentives and a charging infrastructure the most important factors for EV adoption
The electric mobility revolution is a defining moment, where bold vision meets transformative action. The future is being shaped by software-defined vehicles that adapt in real time, seamless charging ecosystems that integrate industries, and sustainability-driven designs that redefine value.
With advancements in AI, quantum intelligence, and circular innovation, stakeholders have the tools to create a connected, intelligent mobility ecosystem that transcends current challenges. Together, we are not just meeting today’s needs—we are shaping a future of limitless possibilities for a smarter, greener, electrified world.
Integrating AI in software-defined vehicles (SDVs) can enable dynamic performance optimization by monitoring the vehicle in real-time and adjusting the power consumption based on driving conditions or user behavior.
As the study shows, consumers are willing to pay only a small premium for EVs over internal combustion engine (ICE) vehicles. However, the cost of assembling an EV remains proportionally higher. Analytical and visual models can highlight cost gaps against customer ‘willingness to pay,’ enabling the comparison of different models along with competitive data. Already streamlined in ICE vehicles today, detailed value analysis and value engineering models can reduce cost, driving both EV adoption and EV sellers’ profitability.
QI can significantly shorten development cycles and help reduce manufacturing costs, leading to faster innovation and cost-effective production. Large datasets from quantum simulations can be analyzed to optimize materials for conductivity, stability, and energy density.
Rapid adoption of EVs is incumbent on concurrent expansion of EV charging infrastructure. The expansion demands broader cross-industry collaboration to address challenges like standardization, grid integration, and customer experience.
Containing various components and materials that can be recycled and reintroduced into the production cycle, EVs pose a unique challenge with respect to precious metals and opportunities over their lifecycle to reduce the carbon footprint. By analyzing the various components of the EV including the battery pack for regulatory needs, the industry can promote sustainability while also driving down lifecycle costs.
