What drives purchase behavior for electric vehicles among millennials in an emerging market

Abstract

The transport sector is recognized as a crucial source of emissions. In this regard, electric vehicles (EVs) are a promising technology that can address this issue. Although EV are introduced as an optimal alternative, how to convince people to adopt EVs is still a challenging question. Therefore, further research on how to promote EVs adoption is necessary. Given this context, this study responds to the call by examining whether self-identity has an impact on EVs purchase orientation and behavior amongst millennials in Vietnam, an emerging market. Particularly, the Unified Theory of Acceptance and Use of Technology (UTAUT) framework plays a key part in this study's moderating process. Utilizing primary data gathered through a survey with a questionnaire, this study takes a quantitative method. The survey yielded 485 legitimate replies. The findings indicate that self-identity has a direct and indirect impact on EVs purchase behavior. In this relationship, purchase orientation plays a mediation role and UTAUT measures (consumers' expectancy and objective motivation) play a moderation role. By presenting a fresh strategy for accelerating EVs adoption in practice, the study greatly adds to the body of literature already written in this field. Therefore, academics, researchers, decision-makers, experts, and expounders could find this contribution interesting.