Predictive Analytics based Modeling of the purchase intention of electric vehicles, and understanding the drivers and risks in their adoption for the people of Tamil Nadu in India

Abstract

While the adoption of electric vehicles by the World is very important to address the issues of climate change, the rate of adoption of EVs is substantially low due to some of the barriers in their adoption by the population. While several studies have been done in the past using different theories to measure the perception of people towards the electric vehicles in the context of several countries including India, there is no such study for a specific Indian state. Since India is the land of diversity where people with different lifestyles and values co-exist, the state-specific studies can generate more insights for the policy makers, manufacturers and marketers of EVs. Therefore, this study measures the perception of people of Tamil Nadu, one of the prominent automotive manufacturing hubs in the country, towards the adoption of electric vehicles through a structured primary survey. A logistic regression model has also been developed to measure the purchase intention of the potential adopters. The important findings of the study and managerial implications have also been discussed.