Charging forward: unveiling the dynamics of consumer EV adoption in Asia's transition to green mobility

Abstract

Purpose

This study aims to explore the determinants influencing consumer purchase intentions towards electric vehicles (EVs) within the Asian market. It specifically examines how perceived value and perceived risk interact with the moderating effects of environmental, policy, and social factors to shape consumer behaviors towards EV adoption. The purpose is to delineate the intricate mechanisms driving consumer intentions in the context of sustainable mobility solutions.

Design/methodology/approach

Adopting a quantitative research design, this investigation collected data via a survey targeting consumers across various Asian countries. The study utilized Structural Equation Modeling (SEM) to analyze the responses, enabling a robust examination of the relationships between perceived value, perceived risk, and the potential moderating roles of external factors on consumer purchase intentions towards EVs.

Findings

The analysis revealed that both perceived value and perceived risk significantly influence consumers' intentions to purchase EVs. It was also found that environmental factors effectively moderate the relationship between perceived risk and purchase intentions, while social factors moderate the relationship between perceived risk and purchase intentions, highlighting the complex influence of external elements on consumer decisions. Contrarily, policy factors did not exhibit a significant moderating impact on the relationships examined.

Originality/value

This research enriches the domain of sustainable technology adoption by providing nuanced insights into the factors driving consumer intentions towards EVs in the Asian context. It underscores the critical roles of perceived value and risk, along with the distinct moderating effects of environmental and social factors, offering strategic implications for stakeholders within the EV ecosystem. The study's findings contribute to the broader discourse on consumer behavior in green technology adoption, laying groundwork for future investigations across diverse settings.