1. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 1 Automotive Study: Global Position of Electric Vehicles Global Automotive, 2013

2. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 2 Agenda Project Outline Key Takeaways Familiarity & Consideration 1 2 3 Overall Opinion & Industry Drivers 4 Conclusion 5

3. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 3 PROJECT OUTLINE

4. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 4 Project Outline Markets & Sample & Methodology  Intenders - all respondents who are planning to purchase a NEW car within next 2 years.  Questions were incorporated into existing studies across 6 markets.  Respondents were asked Awareness, Familiarity, Consideration, Favourability, and Opinion about EVs.  The fieldwork across all markets was completed between January and April 2013. USA SPAIN FRANCE JAPAN N= 500 Intenders Online N= 235 Intenders F2F N= 1000 Intenders Online N = 1194 Intenders Online CHINA RUSSIA N= 3105 General Pop. Online N= 904 Intenders Online

5. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 5 KEY TAKEAWAYS

6. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 6 Electric Vehicles still have low familiarity. Japan is the only market with high knowledge & experience – 60% say – KNOW VERY WELL vs. 3% in US, 1% in China. Educating consumers about the new technology: - collect and share first hand feedback from drivers; - leverage current marketing channels and global resources to be informative about technology and infrastructure - communicate available incentives to EV drivers WHAT?SO WHAT?NOW WHAT? There is a need to increase a direct exposure of electric vehicles and customer’s knowledge. Key Takeaway #1: Boost EV Exposure

7. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 7 EVs are environmental friendly and innovative, however, llimited choice, infrastructure, and high price are the key barriers. Only in Japan customers are willing to pay more for EV as their see the benefits of driving EV which are beyond environmental. Communicate PERSONAL BENEFITS of driving an electric vehicle such as easy to operate, safe, reliable, so that customer can relate it to their every day driving needs. WHAT?SO WHAT?NOW WHAT? Opportunity to leverage benefits of EV which are more than environmental to increase customer positive attitude, consideration and perception of value for money. Key Takeaway #2: Communicate EV Benefits Beyond Environmental

8. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 8 Across countries, luxury segments customers are more likely to consider Electric Vehicle. When it comes to vehicle type, these are mostly small/mini cars or standard, sedans. Provide electric technology option of premium vehicles as a part of advanced technology and as a additional trigger to luxury and performance. WHAT?SO WHAT?NOW WHAT? Opportunity for premium brands to lead industry into electric technology. Key Takeaway #3: Position EV within Luxury Segment

9. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 9 FAMILIARITY & CONSIDERATION

10. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 10 Don’t know much Heard only Avg. 2.6 out of 5.0 Male avg. 2.8 out of 5.0 Female avg. 2.2out of 5.0 Spain France Russia China Japan Know just a little Avg. 3.0 out of 5.0 Male avg. 3.1 out of 5.0 Female avg. 2.8 out of 5.0 Know just a little Avg. 3.1 out of 5.0 Male avg. 3.3 out of 5.0 Female avg. 2.9 out of 5.0 Know just a little/not much Avg. 2.6 out of 5.0 Male avg. 2.6 out of 5.0 Female avg. 2.5 out of 5.0 Know Very Well Driven/Owned Avg. 4.0 out of 5.0 Male avg. 4.1 out of 5.0 Female avg. 3.8 out of 5.0 USA Know just a little Avg. 3.1 out of 5.0 Male avg. 3.3 out of 5.0 Female avg. 2.9 out of 5.0 1Never heard of 2Heard of but don’t know much 3Know just a little about them 4Know a Fair Amount and understand the electric vehicle technology 5Know Very Well and have driven/owned the electric vehicle Awareness of Electric Vehicles (EV) Across the markets measured, consumers are generally not familiar with EVs. Japan is the only market with high awareness/experience with these vehicles.

11. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 11 Thinking of your next new car purchase, how open are you to consider an Electric Vehicle IF it were offered for the type of vehicle you plan to purchase next? Segment Data not available for USA. Russia Japan 1 Not at all Open 2 Not Very Open 3 Not sure/no Opinion 4 Somewhat Open 5 Very Open *76% of Station Wagon (sedan) Imported Brands/Luxury China 28% of Mini/Small Non-Luxury France 47% of Luxury Crossover Spain 55% of Luxury Standard Car 81% of Mini/Small Cars Luxury Brands USA NA * Segments by Consideration – top two box: Somewhat Open and Very Open Consideration and Segment Most Open to Consider Overall, Consideration is Highest among Luxury Segment Customers

12. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 12 Consideration Across the range of markets, 43% of customers will consider an EV but a nearly equal amount (31%) will not In SPAIN almost half consider. In RUSSIA half consider and there is the smallest group of customers who say NO. In USA almost half consider. In FRANCE customers are polarized. 45% 32% YES to EV (T2B – Somehow Open and Very Open) NO to EV (BTB – Not Very Open and Not At All Open) 35% 34% 46% 33% 49% 17% 63% 26% In JAPAN majority considers EVs. In CHINA almost half do NOT consider EVs. 20% 46% Thinking of your next new car purchase, how open are you to consider an Electric Vehicle IF it were offered for the type of vehicle you plan to purchase next?

13. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 13 44% 74%7% 81%35% 63%4% 80%10% 77%19% 70%19% Awareness Conversion SPAIN FRANCE JAPAN CHINA RUSSIA USA Total Base: Spain n= 235; France n=1000; Japan n= 1194; China n=3105; Russia n= 904; USA n= 500 Familiarity Consideration Purchase Funnel Key Metrics EV Awareness and Familiarity is Still Low, Especially in Spain and China and Consideration Varies per Market

14. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 14 34%30% 90%8% 83%23% 87%12% 79%17% 75%16% Awareness Conversion SPAIN* FRANCE JAPAN CHINA RUSSIA USA Total Base: *Spain n= 16 very small sample; France n=377; Japan n= 234; China n=NA; Russia n= 375; USA n= 292 * Near term = Intend to purchase a new vehicle in the next 12 months Familiarity Consideration Purchase Funnel Key Metrics Among Near-term Intenders*, there is Higher Familiarity with EVs, however Conversion to Purchase Consideration is Slightly Lower than the Total Customers (especially in Spain and Japan)

15. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 15 OPINION & INDUSTRY DRIVERS

16. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 16 *Likes – % Top Two (4+5); **Male Average; ***Female Average Q: Now I would like to know how favorable or unfavorable your overall opinion is about Electric Vehicles. Overall Opinion and Gender Differences Favorable Opinion Varies Significantly Between Markets while there are No Significant Gender Differences Russia Japan USA 1 Very Unfavorable 2 Mainly Unfavorable 3 Neutral Impression 4 Mainly Favorable 5 Very Favorable 72% Favorable Opinion 36% Favorable Opinion 82% Favorable Opinion 3.9 3.8 3.1 3.2 4.1 ** 4.2 *** China 16% Favorable Opinion 2.9 France 61% Favorable Opinion 3.5 3.6 Spain 65% Favorable Opinion 3.8

17. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 17 Q: Now, I would like to learn more about your feelings towards Electric Vehicles. 19 Statements. Triggers and Barriers to EV Acceptance Positive and Negative Associations Positive Negative Is Innovative Is Easy to Operate Provides Quite Operation Environmental Friendly/Low Emission Few Choices Available Low Fuel Cost Is Safe Limited Availability of Service High Purchase Price Limited Lifespan on Battery Insufficient Driving Range Weak Recharging Infrastructure Long Battery Charing Globally, EVs are perceived as Environmental Friendly and Innovative, however, Limited Choices and Infrastructure plus a High Price are the key barriers.

18. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 18 Triggers and Barriers to EV Acceptance Positive and Negative Associations Top Two Box: Probably Applies + Definitely Applies Q: Now, I would like to learn more about your feelings towards Electric Vehicles. 19 Statements. % Average Across 6 Countries

19. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 19 How do Select Markets Differ? Japan vs. China Feelings Toward Electric Vehicles The opinion/feelings toward electric vehicles in China is still evolving. The majority have a neutral impression and there are few ‘likes’ (favorable opinion) whereas in Japan the majority have a positive opinion. The key drivers that trigger Japanese customers are direct ‘personal benefits’ such as having a car that is easy to operate, safe and reliable. However in China, customers perceive EVs as environmentally friendly, but do NOT relate the car to their direct personal benefits.. Top Two Box: Probably Applies + Definitely Applies

20. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 20  Japan – EVs meet personal benefits and deliver “value for the money“  China – are environmental friendly but there are no personal benefits of ownership and not a value for money  USA – are environmental friendly but NOT low in maintenance cost neither a value for money  Russia - are environmental friendly but not a great value for money  Spain – overall positive, potential market if EV increases its perception as a car value for money  France – overall positive attitude, however still not perceived as a car of a great value for money How do the Markets Differ? Perceptions of ‘Personal Benefits’ & Cost Top Two Box: Probably Applies + Definitely Applies

21. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 21 47% 33% 60% 51% In SPAIN 47% would pay up to 5% more but majority would NOT pay up to 10% more. In JAPAN majority would pay not only up to 5% but also 10 % more and 43% would pay 20% more. In FRANCE half of the customers would pay up to 5% more but only 35% would pay 10% more. In USA customers do NOT want to pay more for Evs. Only 33% would pay up to 5% more. How much more are Customers Willing to Pay? 61% In RUSSIA majority would pay up to 5% more but only 36% will pay up to 10 % more Are Customers Willing to Pay 5% more than a conventional gasoline engine for EV? Only in Japan, nearly half of the customers are willing to pay up to 20% more for EVs compared to conventional gasoline engine cars. While globally a 5% higher price is still acceptable, in the US customers are not willing to spend more. 23% of customers in Japan would even pay a premium price which is more than 20% higher than a gasoline cars ; 6% in France, 4% in the US, and 2% in Russia and Spain. $$$$$$

22. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 22 Key Triggers vs. Barriers Summary For Each Market Easy To Operate Safe Reliable None Japan Russia Low Emission Innovative Few Choices Limited Services High Purchase Price USA Low Emission Innovative Quiet Operation Not Value for Money High Purchase Cost High Maintenance Cost Few Choices Spain Low Emission Innovative Quiet Operation Few Choices High Purchase Price Limited Services China Low Emission Low Fuel Cost Quiet Operation Insufficient Driving Range France Quiet Operation Low Emission Few Choices High Purchase Price Not Value for Money Weak Infrastructure

23. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 23 CONCLUSIONS

24. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 24 Summary & Conclusions What is the global position of electric vehicles?  Electric Vehicles still have low familiarity. Japan is the only market with high knowledge & experience – 60% say – KNOW VERY WELL vs. 3% in US, 1% in China.  Luxury segment customers are more likely to consider Electric Vehicles. These are mostly luxury mini or luxury standard car customers.  Customers are polarized when it comes to consideration – nearly as many say no (31%) as say YES (43%).  Liking (favorable opinion) varies significantly by market.  Japan is the leading market with a majority of positive Opinion – 82% of customers. In Europe, customers still DO NOT seem to be very familiar with electric vehicles (especially in Spain), however there is potential to grow and build upon high favorability at an average 70%. However, in the US just 36 % have favorable opinion towards electric vehicles and in China it is only 16%, while the majority (60%) has a neutral impression.

25. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 25 Summary & Conclusions What are the key barriers to overcome?  EVs are perceived as environmentally friendly and innovative. However, llimited choice, infrastructure and high price are the key barriers.  For USA, Russia, Spain and France the key barrier is the high purchase cost.  In addition, high maintenance cost and a weak infrastructure are adding to the perception of a car that is NOT a good value for money.  Manufacturers of Electric Vehicles need to focus on addressing the ‘personal benefits’ of ownership.  Japan is the leading market for Electric Vehicles. The key drivers that trigger Japanese customers are direct ‘personal benefits’ such as having a car that is easy to operate, safe and reliable. However, in China and other markets customers perceive EVs as environmentally friendly (as the main and key benefit), but they do NOT relate the car to their personal benefits, such as is safe, reliable or easy to operate.

26. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 26 Summary & Conclusions What are the key industry characteristics per market? JAPAN – is the leading market for Electric Vehicles. The majority of customers have a favorable opinion (82%) and consider it (63%). Looking at car segments, station wagon (sedan) intenders have the highest EV consideration (78%). The triggers that drive the industry in Japan are different from all other markets. Electric Vehicles meet personal needs of those customers who see them as vehicles that are easy to operate, safe and reliable. They also see it is a good value for money and they are willing to pay a premium price. CHINA – The opinion/feelings toward electric vehicles in China are not as yet formed. The majority has a neutral impression (60%), and there are few with favorable opinion (16%) and only a few consider it. The main barrier in China is its insufficient driving range. Also, customers do not think it is a reliable car with a good value for money. USA – only 36% have a favorable opinion but still 14% consider it. The main barrier is cost. Customers in the US are not willing to pay more for electric cars compared to conventional engine cars. They would also like to see a wider range of choices. RUSSIA – EVs are environmental friendly and 72% of respondents have a favorable opinion, while 10% consider them and are willing to pay 5% more than for a conventional car, but still it is not a great value for money. SPAIN - overall positive but still very low familiarity. Potential market if EV increases its perception as a car with a good value for money. FRANCE - overall positive attitude, 61% have a favorable opinion. However, customers are polarized when it comes to consideration. Still not perceived as a car with a great value for money.

27. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 27 GLOBAL POSITION OF ELECTRIC VEHICLES Global Automotive 2013

28. © GfK 2013 | Electric Vehicles Study – GfK Automotive | July 2013 28 Global Automotive, 2013 Questionnaire