Investigating consumers’ adoption of electric vehicles: a perceived value-based perspective

Abstract

PurposeThe current work aims to understand the consumers’ adoption of electric vehicles (two-wheelers) from their value perspective by utilizing the value-based adoption model.Design/methodology/approachThe study considered data from 302 potential electric two-wheeler customers and tested the hypotheses using structural equation modeling.FindingsThe outcomes showed that perceived economic benefits, social image, enjoyable acceleration and enhanced fun and perceived environment (positively) and perceived physical safety risk, perceived cost of ownership and range and charging risk (negatively) influenced the customers’ perceived value linked with electric two-wheeler (ETW) adoption. Only low engine noise emission and infrastructure issues did not affect perceived value.Research limitations/implicationsMost of the respondents considered in the study were less than 35 years old. Hence, the model can be tested for other age groups.Practical implicationsThe study’s outcomes will help ETW marketers, manufacturing companies and governments (state and central) to provide a more convenient environment for electric two-wheelers' adoption and help them curate appropriate strategies.Originality/valueThe current work offers a better understanding of potential customers' ETW adoption by employing a value-based trade-off.