Predicting Purchase Intention of Electric Vehicles in Hong Kong

Abstract

What makes consumers adopt energy-sustainable innovations? Drawing from psychological research on environmental behaviors, we propose a model integrating attitudinal factors, normative factors and self-control to explain the purchase of electric vehicles (EVs) by consumers. Specifically, we utilized structural equation modeling to develop a model to identify relationships between perceived values, green attitudes, normative factors, and self-expressive benefits and purchase intention of EVs. An empirical study was carried out to test the conceptual framework and 11 hypotheses were developed based on literature. The model was tested with survey data from 205 Hong Kong respondents from the automobile community. SEM analyses confirmed that perceived value, trust in EV, responsive efficacy, and willingness to pay had significant and positive influence on purchase intention of EVs. This study offers insights into the development of marketing program for EV in Hong Kong. The findings will help EV manufacturers to facilitate EV purchases. Future research opportunities are discussed.