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 individual
inventiveness 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.