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The transportation industry, along with its associated carbon emissions, has been under constant scrutiny due to its role in exacerbating global temperatures and worsening air quality. Adoption of fuel-efficient technology, such as electric vehicles that are energy-rich and green, is crucial to solving this issue.
Objective: This research examines consumer adoption of electric vehicles (EVs) in the local Indian market, with a focus on this trend. The challenge was to learn more about the factors that drove people to embrace this new environmentally friendly technology.
Methodology: 266 current EV owners (of any brand) were given a questionnaire as part of the study, which asked them about their reasons for buying EVs and whether or not state agencies' and the government's transportation-related policies had encouraged them to act more sustainably.
Findings: The data was analysed with the help of SPSS and the results of Exploratory Factor Analysis (EFA) revealed perceived economic benefits, personal innovativeness towards EVs and subjective norms playing an important role towards EV purchase behaviour followed by driving experience, environmental awareness and moral norms of Indian consumers. Besides, several other factors were identified in open comments like favourable government policies, brand consciousness, compatibility and functional benefits in terms of comfortable and noiseless driving which tend to drive the decision of Indian consumers towards buying EVs.
Novelty: This study is relevant and fulfils the underlying gap in the existing literature related to actual motivations that consumers look for before buying a high involvement product such as EVs.