Consumer's Intention to Embrace Electric Vehicles: A Study of Indian EV Market

Abstract

The study focuses on understanding the influence on consumers' intention to embrace electric vehicles in India. This study uses Regression analysis to analyze the effect of Six Factors viz. perceived utility, perceived usability, environmental concern, compatibility, moral norms, and individualinventiveness on the consumers' intention to embrace electric vehicles. The study is analytically examined based on the data obtained from 152 relevant respondents in India. The analysis revealed that ecological crisis (EC) is essential in influencing the consumer adoption intention of electric vehicles. The data showed that environmental concern is positively associated with it. The study also showed that moral standards are positively associated with consumers' intentions to purchase electric vehicles, indicating that ethical standards positively and significantly impact consumer adoption. Though perceived usefulness is a positive indicator of consumer adoption, it does not significantly influence their intention. Additionally, it was discovered that consumers' perceived usability, compatibility, and individual innovativeness are not positively connected with their intent to purchase electric vehicles and are not statistically significant. Planners and Legislators may find the study's findings helpful in increasing the rate at which electric vehicles are adopted in the real world.