ADOPTION OF ELECTRIC VEHICLES IN MALAYSIA — CONSUMER PREFERENCES AND COST-BENEFIT CONSIDERATIONS

Santha Chenayah, Evelyn Devadason () and Lim Thye Goh
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Santha Chenayah: Department of Economics, Faculty of Business and Economics, Universiti Malaya, 50603 Kuala Lumpur, Malaysia

The Singapore Economic Review (SER), 2024, vol. 69, issue 04, 1395-1414

Abstract: The electric vehicles (EVs) market in Malaysia, though growing remains relatively small. Previous related studies on Malaysia focused mainly on consumer preferences and the country’s readiness towards a higher adoption of environmentally friendly alternative vehicles. This study extends previous work to examine consumer preferences towards EVs through a market survey conducted in Klang Valley. Then follows a comparative economic and environmental cost-benefit analysis of EVs relative to conventional vehicles and hybrid vehicles to provide some understanding on the market diffusion of the former. The key findings from the survey suggest that pricing and the maintenance costs of EVs negatively influence the uptake of EVs despite the positive environmental attitudes of consumers. The cost-benefit analysis, in turn, implies that the EV transition will accelerate with rising petrol prices and falling battery costs. The study concludes with some implications for sustainability based on the adoption of EVs.

Keywords: Electric vehicle; hybrid vehicle; purchaser behavior; cost-benefit analysis; sustainability (search for similar items in EconPapers)
JEL-codes: D10 Q51 Q55 Q56 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1142/S021759082445005X

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