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What drives adoption intention of electric vehicles in India - An integrated UTAUT model with environmental concerns, perceived risk and government support
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Abstract
The purpose of this study is to explore the factors that affect adoption intention of electric vehicles (EVs) in India. An integrated model using Unified Theory of Acceptance and Use of Technology (UTAUT) was developed to forecast customer's adoption intention towards EVs in India using perceived risk as the predictor and environmental concerns and government support as the moderators. Quantitative data from 284 customers was analyzed using hierarchical linear regression analysis and verified with necessary conditions analysis. The findings show that performance expectancy and facilitating conditions positively affect adoption intention of EVs, whereas perceived risk negatively affects adoption intention of EVs. Government support was found to moderate the relationship between perceived risk and adoption intention such that it reduces the inverse relationship of perceived risk on adoption intention. The results validate UTAUT by studying it in the context of EV's adoption in India and adds to the literature on psychological traits affecting adoption intention of new products. Implications from results for policy and practice in terms of specific measures that could be taken by automobile firms and governments to promote adoption based on results are also discussed.
Introduction
Transport sector contributes to about 24% of energy related greenhouse gases (GHG) emissions globally and is projected to account for 50% of energy related GHG emissions globally by 2050 in the business-as-usual (BAU) scenario (IEA, 2017, 2015). In India, transport sector accounts for over 10% of energy related carbon emissions (GoI, 2015a) and is also a major source of air pollution (Jain et al., 2016). There are also important energy security implications as India relies on imported crude oil to meet its demand and currently imports about 80% of its petroleum needs (GoI, 2015a). During the period 2010–19, the number of registered two and four wheelers in India has grown roughly at a rate of 10% annually (GoI, 2018). India is one of the fastest growing major economies of the world and as the economy grows further, the increase in household income levels, rising population, and increasing urbanization are likely to continue driving the share of personal transport (Dhar et al., 2017) even more, further exacerbating the environmental and energy concerns.
The central and state governments in India have taken various measures to mitigate transport related emissions such as mandating improved fuel quality and emission standards for vehicles, banning old diesel vehicles in some cities, introducing cleaner fuels like natural gas, and promoting public transport including sub-urban metro trains, and promotion of electric vehicles (EVs) more recently. Globally, a reduction in tailpipe GHG emissions have made EVs a very attractive option when compared to conventional gasoline vehicles (GV) (Quiros et al., 2017). Sustainable modes of transport such as EVs can address both environmental and energy concerns and have seen their costs fall rapidly in recent years (Nykvist & Nilsson, 2015). In many countries EVs are already cost competitive with internal combustion engine vehicles (ICEV) (Palmer et al., 2018), although government support continues to remain essential for EVs' widespread adoption (Weldon et al., 2018).
The Indian Government has introduced several policies to facilitate the growth of EVs in India, beginning with the introduction of a national policy vision document National Electricity Mobility Mission Plan (NEMMP) in 2012. Under the NEMMP, Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME) was launched in 2015 (GoI, 2015b). FAME was divided in two phases with the first phase (FAME I) focusing on four focus areas, namely demand creation, technology platform, pilot project, and charging infrastructure (GoI, 2015b). FAME I was initially introduced as a two-year scheme to last from April 2015 to March 2017, but the period was later extended by two more years till March 2019. Between April 2015 and March 2019, FAME I provided a total financial support of INR 5.3 billion (approximately US$ 125 million) (GoI, 2015b). A total of 278,000 EVs were supported with total demand incentives of INR 3.4 billion (US$ 80 million). A government review of the achievements of FAME I revealed that a) the overall performance on two key parameters of fuel saving and CO2 reduction was well below the intended target, b) the market and industry displayed an encouraging but slow and cautious response, c) there was a need to overhaul the subsidy structure and create a parity across emerging EV technologies, and d) the electric three wheelers market witnessed an unexpected fast growth (GoI, 2019a).
LƯU Ý:
Tài liệu được chia sẻ bởi Anh "Quocphong Nguyen" Admin Group "Free Load Tài Liệu" và chỉ được dùng phục vụ mục đích học tập và nghiên cứu.
Abstract
The purpose of this study is to explore the factors that affect adoption intention of electric vehicles (EVs) in India. An integrated model using Unified Theory of Acceptance and Use of Technology (UTAUT) was developed to forecast customer's adoption intention towards EVs in India using perceived risk as the predictor and environmental concerns and government support as the moderators. Quantitative data from 284 customers was analyzed using hierarchical linear regression analysis and verified with necessary conditions analysis. The findings show that performance expectancy and facilitating conditions positively affect adoption intention of EVs, whereas perceived risk negatively affects adoption intention of EVs. Government support was found to moderate the relationship between perceived risk and adoption intention such that it reduces the inverse relationship of perceived risk on adoption intention. The results validate UTAUT by studying it in the context of EV's adoption in India and adds to the literature on psychological traits affecting adoption intention of new products. Implications from results for policy and practice in terms of specific measures that could be taken by automobile firms and governments to promote adoption based on results are also discussed.
Introduction
Transport sector contributes to about 24% of energy related greenhouse gases (GHG) emissions globally and is projected to account for 50% of energy related GHG emissions globally by 2050 in the business-as-usual (BAU) scenario (IEA, 2017, 2015). In India, transport sector accounts for over 10% of energy related carbon emissions (GoI, 2015a) and is also a major source of air pollution (Jain et al., 2016). There are also important energy security implications as India relies on imported crude oil to meet its demand and currently imports about 80% of its petroleum needs (GoI, 2015a). During the period 2010–19, the number of registered two and four wheelers in India has grown roughly at a rate of 10% annually (GoI, 2018). India is one of the fastest growing major economies of the world and as the economy grows further, the increase in household income levels, rising population, and increasing urbanization are likely to continue driving the share of personal transport (Dhar et al., 2017) even more, further exacerbating the environmental and energy concerns.
The central and state governments in India have taken various measures to mitigate transport related emissions such as mandating improved fuel quality and emission standards for vehicles, banning old diesel vehicles in some cities, introducing cleaner fuels like natural gas, and promoting public transport including sub-urban metro trains, and promotion of electric vehicles (EVs) more recently. Globally, a reduction in tailpipe GHG emissions have made EVs a very attractive option when compared to conventional gasoline vehicles (GV) (Quiros et al., 2017). Sustainable modes of transport such as EVs can address both environmental and energy concerns and have seen their costs fall rapidly in recent years (Nykvist & Nilsson, 2015). In many countries EVs are already cost competitive with internal combustion engine vehicles (ICEV) (Palmer et al., 2018), although government support continues to remain essential for EVs' widespread adoption (Weldon et al., 2018).
The Indian Government has introduced several policies to facilitate the growth of EVs in India, beginning with the introduction of a national policy vision document National Electricity Mobility Mission Plan (NEMMP) in 2012. Under the NEMMP, Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME) was launched in 2015 (GoI, 2015b). FAME was divided in two phases with the first phase (FAME I) focusing on four focus areas, namely demand creation, technology platform, pilot project, and charging infrastructure (GoI, 2015b). FAME I was initially introduced as a two-year scheme to last from April 2015 to March 2017, but the period was later extended by two more years till March 2019. Between April 2015 and March 2019, FAME I provided a total financial support of INR 5.3 billion (approximately US$ 125 million) (GoI, 2015b). A total of 278,000 EVs were supported with total demand incentives of INR 3.4 billion (US$ 80 million). A government review of the achievements of FAME I revealed that a) the overall performance on two key parameters of fuel saving and CO2 reduction was well below the intended target, b) the market and industry displayed an encouraging but slow and cautious response, c) there was a need to overhaul the subsidy structure and create a parity across emerging EV technologies, and d) the electric three wheelers market witnessed an unexpected fast growth (GoI, 2019a).
LƯU Ý:
Tài liệu được chia sẻ bởi Anh "Quocphong Nguyen" Admin Group "Free Load Tài Liệu" và chỉ được dùng phục vụ mục đích học tập và nghiên cứu.
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