Towards Sustainable Mobility: Unveiling Consumer Preferences for 4-wheeler Electric Vehicle Adoption in India
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Abstract
In an age increasingly prioritizing sustainable transportation, Electric Vehicles (EVs) represent a transformative solution, guiding the automotive industry towards environmental stewardship. However, EV adoption in India faces multifaceted challenges, necessitating a nuanced understanding of consumer preferences. This study addresses this gap by examining factors influencing the adoption of 4-wheeler EVs through a sequential exploratory mixed research approach. Qualitative interviews with 10 participants provided insights into attributes like price, subsidy, range, performance, battery capacity, charging station accessibility, and resale value. Subsequently, a choice-based conjoint analysis involving 420 respondents quantitatively evaluated these attributes. Findings highlight affordability and subsidies as pivotal, alongside preferences for extended range and satisfactory performance. Best profile analyses for each attribute offer actionable insights for manufacturers and policymakers, emphasizing the need for strategic pricing, subsidy optimization, and infrastructure development to enhance EV adoption. These insights are crucial for developing targeted strategies to promote wider EV adoption, thereby contributing to sustainable transportation goals in India and beyond.
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