What makes an electric-vehicle early adopter?

Cycle & Carriage (C&C) Singapore spotlighted local sentiments towards and factors motivating the early adoption of electric vehicles (EVs) through a dipstick study conducted in June 2023. The automotive group hopes to ride the rising wave of clean energy, leveraging the findings to develop ingenious electric solutions to drive and meet future mobility demands. 

Some interesting insights surfaced, the most intriguing of which was how females outplayed males at taking to the up-and-coming variant of automobiles. The study revealed positives for Singapore's sustainable goal for the industry come 2040: 67% of existing petrol vehicle owners in the city-state intend to sell their cars by 2025. Of these, half are entertaining the possibility of trading their internal combustion engines (ICEs) in exchange for a hybrid or EV. 

Infrastructure readiness, battery lifespan, and safety concerns are among early adopters' top considerations when deciding whether to buy an electric vehicle

Vehicle safety ranked high among the considerations affecting EV purchase decisions, coming in just second - on par with battery durability - to the availability of charging points. Even then, there are 'fine prints' to these conditions that would make or break a consumer's choice. About half of those likely to buy an EV would do so when there are 30,000 charging points island-wide; one in two expressed willingness to consider owning an EV if the battery promises a minimum lifespan of at least seven years. 

Despite the healthy adoption rates over the last few years, knowledge of EVs remains limited. 50% of the 246 respondents surveyed knew nothing more about EVs other than their power source being electric batteries. It is, perhaps, crucial to address awareness levels and education about EVs, which collectively form a strong impetus for bolstering the uptake wave to its crest. 

More are willing to switch to an electric vehicle if they owned at least two internal combustion engine-powered cars

The study also fleshed out the potential early EV adopters, who tend to be the younger, more affluent, and highly educated Singaporeans. Interestingly, owners of two or more cars were more inclined to purchase an EV. But this behaviour might not seem all that peculiar if the ICE vehicles, being a more familiar product, were understood as a contingency for EV failures.

The first five months of 2023 saw EVs taking up about 13% of newly registered vehicles locally, up by almost 12% compared to 2022. The increase will continue to pick up pace with the slew of national-level incentives to facilitate the transition to EVs.