The Role of Consumer Perceptions in Electric Vehicles Adoption: Financial incentives, Retrofitting, and Environmental Concerns in India.

Abstract

The study investigates the key determinants influencing consumer adoption of electric vehicles (EVs) in India, focusing on financial incentives, relative advantages, desire for unique products, percieved ease of use and usefulness of technology and the potential of retrofitting existing vehicles. In the context of India’s dominance by internal combustion engines (ICE), understanding consumer decision-making is critical for facilitating the transition to a sustainable transportation system. The study combines the Theory of Planned Behaviour and the Technology Acceptance Model to examine the above factors. The data collection included pilot study in form of interviews of end users and a survey of 333 participants, including both potential and actual consumers. The study employed Partial Least Squares Structural Equation Modeling (PLS-SEM) revealing key drivers if EV adoption. Study also revealed that reluctance towards retrofitting comes from indeaquate infrastructure, concerns about mining pollution, a preference towards a new vehicle, limited awareness and lack of interest. The study holds impliactions for EV manufacturers and marketers and offers actionable recommendations for advancing green transportation initiatives in India.