Electrifying the Road: A Comprehensive Analysis of Factors Influencing Consumer Adoption of Electric Vehicles

M. S. Bindhya (), N. V. Madhusoodanan Kartha (), Gibin Jacob (), Alan Lukose () and Jeena Joseph ()
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M. S. Bindhya: Department of Commerce, Milad-E-Sherief Memorial College, Kayamkulam, India
N. V. Madhusoodanan Kartha: Department of Commerce and Management Studies, Sri. C. Achutha Menon Government College, Thrissur, India
Gibin Jacob: Department of Commerce, St. Paul's College, Kalamassery, India
Alan Lukose: Department of Commerce, Prajyoti Niketan College, Pudukad, Thrissur, India
Jeena Joseph: Department of Computer Applications, Marian College Kuttikkanam Autonomous, India

International Journal of Energy Economics and Policy, 2024, vol. 15, issue 1, 552-565

Abstract: This study examines the factors influencing electric vehicle (EV) consumer acceptance, focusing on the gap between technology advances and consumer uptake. It examines how consumer perceptions, knowledge, and demographics affect EV adoption decisions. The mixed-methods study collects data from a varied sample using surveys and interviews. Empirical evaluation captures customer opinions regarding EVs across environmental, social, economic, price, performance, and awareness issues. The study also explores how age, money, and social standing affect customer views and adoption. The data shows a large gap between EV technical maturity and consumer adoption rates, driven by a lack of EV buyer knowledge and understanding. EVs provide environmental and economic benefits, but demographics and knowledge gaps cause hesitation. Younger and higher-income groups are more likely to embrace EVs, providing targeted possibilities. The findings suggest focused educational initiatives and legislative measures to close the knowledge gap and boost consumer trust in EV technology. EV adoption can be improved by stakeholders customizing tactics to demographic groups' wants and concerns. The report recommends a comprehensive approach to promote electric mobility, emphasizing informed customer choice in transportation's future. This study adds to the literature by studying key aspects of electric vehicle (EV) adoption that previous studies missed. The information illuminates the complex factors that influence client decisions, filling gaps in technical progress and commercial acceptance knowledge. This study complements scholarly discourse by concentrating on ignored places and providing essential data for sustainable transportation promotion.

Keywords: Electric Vehicle; Sustainability; Consumer Perception; Consumer Adoption (search for similar items in EconPapers)
Date: 2024
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DOI: 10.32479/ijeep.17036

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