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Consumer preferences and willingness to pay for electric vehicles in China

In light of the growing environmental concerns and the urgent need to reduce carbon emissions, the adoption of electric vehicles (EVs) plays a pivotal role in transforming the automotive industry towards sustainability. In China, the promotion of EVs dates back to 2009, and EVs have lower consumer a...

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Main Authors: Hong, Xuefei, W. Mohamad, Wan Norhidayah, Samdin, Zaiton, Abdul Samad, Abdul Rahim
Format: Article
Language:English
Published: HARD Publishing Company 2024
Online Access:http://psasir.upm.edu.my/id/eprint/113621/1/113621.pdf
http://psasir.upm.edu.my/id/eprint/113621/
https://www.pjoes.com/Consumer-Preferences-and-Willingness-nto-Pay-for-Electric-Vehicles-in-China,184151,0,2.html
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spelling my.upm.eprints.1136212024-11-14T03:18:08Z http://psasir.upm.edu.my/id/eprint/113621/ Consumer preferences and willingness to pay for electric vehicles in China Hong, Xuefei W. Mohamad, Wan Norhidayah Samdin, Zaiton Abdul Samad, Abdul Rahim In light of the growing environmental concerns and the urgent need to reduce carbon emissions, the adoption of electric vehicles (EVs) plays a pivotal role in transforming the automotive industry towards sustainability. In China, the promotion of EVs dates back to 2009, and EVs have lower consumer acceptance than conventional fuel vehicles. The large financial subsidies that are frequently employed to encourage the proliferation of EVs are not long-term viable. As a result, it suggests that research into the inherent qualities and features of EVs itself has to be refocused. This study examines consumer preferences and willingness to pay (WTP) for EVs’ attributes using the choice experiment (CE) method in Shandong, China. The assessed attributes were driving range, seats, battery warranty period, charging time, and price. Finally, the data from 330 valid responses was examined using conditional logit (CL) and mixed logit models (MXL). The results reveal that the most preferred attribute was an extension of the battery warranty duration, which led to a WTP ranging from CNY626,352 to CNY1,141,580 (US$98,485 to US$170,385) among the different models. Furthermore, the outcomes indicate distinct consumer preferences based on gender, age, education, and income. These findings have significant implications for policymakers in developing the EV industry. HARD Publishing Company 2024 Article PeerReviewed text en cc_by_nc_4 http://psasir.upm.edu.my/id/eprint/113621/1/113621.pdf Hong, Xuefei and W. Mohamad, Wan Norhidayah and Samdin, Zaiton and Abdul Samad, Abdul Rahim (2024) Consumer preferences and willingness to pay for electric vehicles in China. Polish Journal of Environmental Studies, 33 (6). pp. 6153-6165. ISSN 1230-1485 https://www.pjoes.com/Consumer-Preferences-and-Willingness-nto-Pay-for-Electric-Vehicles-in-China,184151,0,2.html 10.15244/pjoes/184151
institution Universiti Putra Malaysia
building UPM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Putra Malaysia
content_source UPM Institutional Repository
url_provider http://psasir.upm.edu.my/
language English
description In light of the growing environmental concerns and the urgent need to reduce carbon emissions, the adoption of electric vehicles (EVs) plays a pivotal role in transforming the automotive industry towards sustainability. In China, the promotion of EVs dates back to 2009, and EVs have lower consumer acceptance than conventional fuel vehicles. The large financial subsidies that are frequently employed to encourage the proliferation of EVs are not long-term viable. As a result, it suggests that research into the inherent qualities and features of EVs itself has to be refocused. This study examines consumer preferences and willingness to pay (WTP) for EVs’ attributes using the choice experiment (CE) method in Shandong, China. The assessed attributes were driving range, seats, battery warranty period, charging time, and price. Finally, the data from 330 valid responses was examined using conditional logit (CL) and mixed logit models (MXL). The results reveal that the most preferred attribute was an extension of the battery warranty duration, which led to a WTP ranging from CNY626,352 to CNY1,141,580 (US$98,485 to US$170,385) among the different models. Furthermore, the outcomes indicate distinct consumer preferences based on gender, age, education, and income. These findings have significant implications for policymakers in developing the EV industry.
format Article
author Hong, Xuefei
W. Mohamad, Wan Norhidayah
Samdin, Zaiton
Abdul Samad, Abdul Rahim
spellingShingle Hong, Xuefei
W. Mohamad, Wan Norhidayah
Samdin, Zaiton
Abdul Samad, Abdul Rahim
Consumer preferences and willingness to pay for electric vehicles in China
author_facet Hong, Xuefei
W. Mohamad, Wan Norhidayah
Samdin, Zaiton
Abdul Samad, Abdul Rahim
author_sort Hong, Xuefei
title Consumer preferences and willingness to pay for electric vehicles in China
title_short Consumer preferences and willingness to pay for electric vehicles in China
title_full Consumer preferences and willingness to pay for electric vehicles in China
title_fullStr Consumer preferences and willingness to pay for electric vehicles in China
title_full_unstemmed Consumer preferences and willingness to pay for electric vehicles in China
title_sort consumer preferences and willingness to pay for electric vehicles in china
publisher HARD Publishing Company
publishDate 2024
url http://psasir.upm.edu.my/id/eprint/113621/1/113621.pdf
http://psasir.upm.edu.my/id/eprint/113621/
https://www.pjoes.com/Consumer-Preferences-and-Willingness-nto-Pay-for-Electric-Vehicles-in-China,184151,0,2.html
_version_ 1816132752849764352
score 13.223943

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