Relating consumers' information and willingness to buy electric vehicles: Does personality matter?

Abstract

• Investigated relationship between consumers' information and willingness to buy EVs. • Employed Big Five trait theory as a theoretical framework. • Analyzed data using structural equation modeling approach. • OPEN, CONS, EXTR and AGRE positively moderate this relationship. • NEUR negatively moderates this relationship. Being an energy-efficient mode of transportation, electric vehicles (EVs) adoption is a multifaceted mechanism driven by a bunch of factors. However, studies focusing on assessing the influence of personality traits on consumers' information about EVs (CINEVs) and willingness to buy (WTB) EVs are scarce. This study investigates the relationship between CINEVs and WTBEVs by accommodating the moderating role of the Big Five personality traits. Results are based on a sample of 624 respondents in the seven largest Indian cities by employing a comprehensive questionnaire survey. Structural equation modeling is used to test the formulated hypotheses. The results highlight that CINEVs is directly related to WTBEVs. We further add to the existing pool of knowledge by providing empirical evidence that openness, conscientiousness, extraversion, and agreeableness positively moderate the relationship between CINEVs and WTBEVs, whereas neuroticism negatively moderates this relationship. The results uncovered an interesting role of personality traits in propagating EV development.