Key Factors Influencing Consumers’ Purchase of Electric Vehicles

Abstract

Although the rapid progress of the global economy and technology has advanced human civilization, it has also caused tremendous damage to the global ecological environment. Therefore, humans are thinking seriously about the environment and its sustainable development. One of the solutions to environmental problems is new energy vehicles. Since the promulgation of the "Energy Saving and New Energy Vehicle Industry Development Plan (2012-2020)" by the General Office of the State Council, the Chinese government has determined a strategy of pure electric driving technology. The electric vehicle market in China has expanded rapidly, making China the largest electric vehicle market in the world. Hence, research on the situation of electric vehicles in China is highly necessary and of reference value for other countries to develop electric vehicles. As a result, it is a critical issue to develop low-carbon, energy-saving, and intelligent electric vehicles to reduce the environmental impact. This paper establishes a theoretical framework based on the theory of planned behavior (TPB), technology acceptance model (TAM) and innovation diffusion theory (IDT), and explores the key factors influencing consumers' purchase of electric vehicles. The results show that: The application of the key factor model constructed in this study to consumers' behavioral intention regarding electric vehicle purchase is acceptable. According to the structural equation modeling (SEM) analysis results, (1) In terms of behavioral intention: Consumers' control over the resources required to purchase electric vehicles has the highest influence on their behavioral intention, while consultation opinions from consumers' surroundings also significantly affect their behavioral intention to purchase electric vehicles. In addition, consumers' environmental awareness and acceptance of technology products will also influence their behavioral intention. (2) In terms of attitude toward behavior: When consumers believe that electric vehicles are more beneficial at the individual, environment or national level, or they believe that the usage of electric vehicles is simpler and more convenient, they will show a more positive attitude towards the purchase of electric vehicles. Consumers consider electric vehicles as forward-looking technology products with similar driving operation and usage cost compared to traditional vehicles. (3) In terms of regulations: The opinions of consumers' family members, friends, colleagues or supervisors do not significantly affect the attitude or behavior of consumers regarding electric vehicle purchase. The key factors influencing consumers' purchase of electric vehicles are not only applicable to the design and development of electric vehicles that better suit consumer demands, but also serve as a theoretical basis for the popularization of electric vehicles, and provide a reference for consumers' choice and purchase. Therefore, the government and relevant manufacturers need to consider increasing the publicity of electric vehicle...

Electric Vehicle Sales Catastrophe Averted (?)

“…An interesting manuscript "The effect of perceived risk on the purchase intention of electric vehicles: an extension to the technology acceptance model" (Thilina, 2019) seeks to analyze significant market penetration for the sale of electric vehicles accompanied by the analysis (Mo, 2018) of life-cycle cost of ownership including congestion and environmental impacts (Tu, 2019), (Rajeev, et al, 2019), (Hao, 2017), (Philipsen, et al, 2019), (Lopez-Arboleda, et al, 2019), (Almeida, et al, 2019). Considerable emphasis have been placed on improvements in vehicle charging (Wolbertus, et al, 2019) amongst many other underlying technological areas seeking to improve the value proposition to potential buyers (Jager, et al, 2019), , , (Minnerup, et al, 2019), (Muller, 2019) and also make recommendations in both technology (Zha, et al, 2019), , (Zha, et al, 2019), , (Jiyan, et al, 2019), (Pier, et al, 2019), (Agaton, et al, 2019), , (Watanabe, et al, 2019), (Kusaka, et al, 2019), (Zhang, W., et al, 2019), , (Mayer, et al, 2019), (Ricciardi, et al, 2019), , (Yu, Z., et al, 2019), (Senda, et al, 2019), (Marquez-Fernandez, et al, 2019), (Wu, D., et al, 2019), (Wang, H., et al, 2019), (Obayashi, et al, 2019), (Gong, et al, 2019), (Vermeulen, et al, 2019), (Jia, J., et al, 2019), (Li, Q., et al, 2019) and policy incentives (Zhang, X., et al, 2019), (Ortar, et al, 2019), culminating in charging strategies to influence the obvious trade-off between gasoline prices and charging availability , (Wolbertus, et al, 2019),…”

Electric Car Purchase Price as a Factor Determining Consumers’ Choice and their Views on Incentives in Europe

“…The factors influencing vehicle choice in general and EVs in particular can be studied using empirical and theoretical models. An example of the latter is provided by Tu and Yang [7], who attempted to combine three pieces of theory: theory of planned behavior, technology acceptance model and innovation diffusion theory. Table 1 shows the list of such factors identified in three studies: Mueller and de Haan [8], Jensen et al [9] and Struben and Sterman [10].…”

Adopting an Actor Analysis Framework to a Complex Technology Innovation Project: A Case Study of an Electric Road System

“…However, the review also showed that this analysis is very suitable for equally complex systems in other domains such as the space industry, business management, policy analysis, and energy and environment domains. Most of the literature in this study (41) included peer-reviewed papers, conference proceedings, and book chapters. The authors also included relevant PhD and master theses (3), project reports (9), and web pages (11) to reduce the elimination bias of search engines.…”

“…It is helpful and necessary for stakeholders to engage a broad range of individuals including local politicians, media, residents, business owners, and national pressure groups due to the sensitivity of transportation strategy development [40]. Stakeholder requirements play a crucial role when the system reaches the implementation stage in society [41].In the case of this ERS study, knowing the stakeholders' concerns, what goals they set for themselves, and how they act to reach their goals can help uncover interactions, similarities, and conflicts among the stakeholders. Actor analysis methods focus on analysing the actors' interactions in the policy analysis domain, which provides a chance to understand system complexity from the actor perspective [14].…”

“…It is helpful and necessary for stakeholders to engage a broad range of individuals including local politicians, media, residents, business owners, and national pressure groups due to the sensitivity of transportation strategy development [40]. Stakeholder requirements play a crucial role when the system reaches the implementation stage in society [41].…”