Factors Affecting Electric Vehicle Purchase Intentions: An Approach of the Developing Markets

Abstract: This study focuses on the factors which are vital for a consumer while buying electric vehicle (EV). It is based on the reflective type 2 model, Reflective formative from the paper of Jarvis (2003). The primary sample of 425 was collected from Professionals and youth. This study is based on the factors that examine the hypothesis to support the conceptual discrete model. The study is analysed by IBM SPSS AMOS 23v (2019). The paper includes comprehensive factors of consumer buying behaviour for EV’s including safety of vehicle, manufacture’s credibility, price, and other factors. The result shows that the regulations for financial incentives, manufacturer’s credibility and safety of vehicle are preferred most by the EV buyers followed by price and product understanding. In addition, the product understanding is not having any significant factor for buyers of EV’s. This paper will give manufacturers the comprehensive preference of consumer for EV vehicles which can be considered.

Keywords: Electric Vehicle, SEM, Factors Analysis, Sustainability