Abstract
Pollution has become a major source of concern for the majority of people at present. Pollution is primarily caused by automobiles. Everybody wants to live in a pollution-free society. Nevertheless, India’s automobile registrations are growing at a rapid pace. Increased automobile usage will have a negative effect on the environment. As a result, our modes of transportation must be sustainable and environmentally friendly. The solution to this dilemma is electric vehicles. However, electric vehicle adoption is not occurring at a rate that is desirable in India, although it is anticipated to grow in the coming years. Numerous automobile manufacturers are ramping up production of electric automobiles. The purpose of this study is to ascertain the primary factors that influence the adoption of electric vehicles. This study includes five independent variables: financial incentives, charging infrastructure, social reinforcement, environmental concern, and price, and one dependent variable, electrical vehicle adoption. The data for the present study was collected from 366 randomly selected respondents across India. Structural Equation Modeling (SEM) and Confirmatory Factor Analysis (CFA) were used to analyze the data. The study’s findings demonstrate that pricing has a substantial impact on the adoption of electric vehicles.
Highlights
Environmental concerns are compelling both the government and consumers to consider alternative fuel sources for automobiles
The findings suggest that when it comes to purchasing electric vehicles, people are least concerned about the environment
This study confirms that price is the primary determinant of electric vehicle adoption
Summary
Environmental concerns are compelling both the government and consumers to consider alternative fuel sources for automobiles. The Indian government offers various financial and non-financial incentives to manufacturers and consumers. Manufacturers are rewarded financially for increasing their investment in the production of electric vehicles. Indian automakers such as Maruti Suzuki, Bajaj Auto, Tata Motors, and Mahindra and Mahindra are planning to launch a variety of electric vehicle models to meet future demand. In line with industry, the potential of electrical vehicles and their mobility has been recognized and investigated by academia with varying perspectives. Numerous researchers confirmed several aspects of electric mobility, including technical, economic, logistical and environmental [1,2,3]
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