Multivariate Analysis of the Factors Influencing Consumer’s Purchase Decision towards Electric Vehicles (EVs) in Maharashtra, India

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Dr. Dinesh Gabhane, Dr. Vishal Diliprao Chavan, Bidisha Roy Goswami


The evolution of electric vehicles (EVs) has accelerated and attracted attention in recent years due to significant developments in EV technology. Electric Vehicles (EVs) are an effective technology for creating a sustainable transport sector in the future, due to low carbon emissions, high efficiency, low noise, and flexibility in grid operation and integration. The shift in EV adoption results in an increase in the number of electric vehicles (EVs) in the coming years. However, it is not clear what factors drive this widespread acceptance of electric vehicles, particularly, battery electric (BEV) vehicles in a developing country like India. This study was conducted through structured interviews amongst 150 individuals (two wheeler and four wheeler passenger car owners) to explore the various factors that influence consumer’s purchase decision towards electrical vehicles (EVs) in Maharashtra, India. The factors are identified astechnological, environmental, economic, and infrastructural.Multivariate analysis is used to identify the importance of each factor in purchase decision. Furthermore, secondary data has been collected to understand the policy initiatives taken by the central as well as Maharashtra government to promote EVs. The findings of the study indicate that, economic aspect is the most important factor in the adoption of EV, followed by environmental, technological and infrastructural factor.

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