Analysis of Consumers’ Willingness to Accept of Government Subsidies for Electric Vehicles

Abstract

Environmental sustainability is being increasingly emphasized, with the issue of air pollution again being a major concern. Electric vehicles are increasingly playing an important role in solving air pollution problems, and thus the electric vehicle industry and consumption are receiving special attention from the government, which has formulated a policy of subsidies for the development of the electric vehicle industry and consumption. In this paper, contingent valuation method (CVM) was used to conduct a statistical analysis of a questionnaire survey on the willingness of consumers to accept EV subsidies in Nanyang City, Henan Province, China. The estimated consumer willingness to accept the BEV subsidy is 26.505 RMB and the willingness to accept the PHEV subsidy is 24,867 RMB. The conclusions from the logit model analysis can provide policy recommendations for the government to better promote the development of EV industry and consumption.