A Study to Investigate What Tempts Consumers to Adopt Electric Vehicles

Abstract

Pollution has become a major source of concern for the majority of people at present. Pollution is primarily caused by automobiles. Everybody wants to live in a pollution-free society. Nevertheless, India’s automobile registrations are growing at a rapid pace. Increased automobile usage will have a negative effect on the environment. As a result, our modes of transportation must be sustainable and environmentally friendly. The solution to this dilemma is electric vehicles. However, electric vehicle adoption is not occurring at a rate that is desirable in India, although it is anticipated to grow in the coming years. Numerous automobile manufacturers are ramping up production of electric automobiles. The purpose of this study is to ascertain the primary factors that influence the adoption of electric vehicles. This study includes five independent variables: financial incentives, charging infrastructure, social reinforcement, environmental concern, and price, and one dependent variable, electrical vehicle adoption. The data for the present study was collected from 366 randomly selected respondents across India. Structural Equation Modeling (SEM) and Confirmatory Factor Analysis (CFA) were used to analyze the data. The study’s findings demonstrate that pricing has a substantial impact on the adoption of electric vehicles.