Investigating consumers’ adoption of electric vehicles: a perceived value-based perspective

Abstract

Purpose

The current work aims to understand the consumers’ adoption of electric vehicles (two-wheelers) from their value perspective by utilizing the value-based adoption model.

Design/methodology/approach

The study considered data from 302 potential electric two-wheeler customers and tested the hypotheses using structural equation modeling.

Findings

The outcomes showed that perceived economic benefits, social image, enjoyable acceleration and enhanced fun and perceived environment (positively) and perceived physical safety risk, perceived cost of ownership and range and charging risk (negatively) influenced the customers’ perceived value linked with electric two-wheeler (ETW) adoption. Only low engine noise emission and infrastructure issues did not affect perceived value.

Research limitations/implications

Most of the respondents considered in the study were less than 35 years old. Hence, the model can be tested for other age groups.

Practical implications

The study’s outcomes will help ETW marketers, manufacturing companies and governments (state and central) to provide a more convenient environment for electric two-wheelers' adoption and help them curate appropriate strategies.

Originality/value

The current work offers a better understanding of potential customers' ETW adoption by employing a value-based trade-off.

Citation

Vishwakarma, P. (2024), "Investigating consumers’ adoption of electric vehicles: a perceived value-based perspective", Marketing Intelligence & Planning, Vol. 42 No. 6, pp. 1028-1051. https://doi.org/10.1108/MIP-05-2023-0228