Executive Summary

By integrating with the electric grid, electric vehicles (EVs) reject the use of fossil fuels within
the car itself. PHEVs, or plug-in hybrid electric vehicles, may run on both gasoline and batteries.
Electricity alone is used to power Battery Electric Vehicles (BEVs). Power-sharing is an option
that both provide. Reduced greenhouse gas (GHG) emissions, local air pollution, and noise from
moving automobiles may all be achieved with EVs. In recognition of these benefits

This paper reviews studies on the factors affecting EV (Electric Vehicle) adoption. These factors
are categorized as environmental manufacturing , external and internal factors

This report also discusses literature reviews depicting the role these factors play in EV
adoption with a focus on the effects on India.

In this paper, studies that create predictions about the adoption of EVs throughout time are also
examined and consolidated. A selection of forecasts that represent low, reference, and high EV
adoption were made with a focus on the literature for diffusion models. Combining these
literature-based estimates to India-specific EV .

Further studies will be done to learn more about Indias distinct topography and economy, as well
as how it influences EV ownership costs and potential EV adoption over time.

ABSTRACT
This study examines the variables affecting Indian customers' adoption of electric vehicles
(EVs). The study investigates several variables, including perceived benefits, environmental
concerns, governmental regulations, and financial incentives that impact consumers' decisions to
buy ev A research of 80 people from various parts of India was used to gather the data, and
descriptive statistics and regression analysis were used to analyze the findings. According to the
research, perceived benefits, and environmental concerns impact EV adoption more than
government regulations and financial incentives. The study underscores the significance of
addressing customer attitudes and concerns in this area and offers valuable information for
policymakers, manufacturers, and marketers in encouraging EV adoption in India.

Rationale

To combat climate change and reduce greenhouse gas emissions, embracement of electric
vehicles (EV) is essential. A most important strategy for assisting India, a nation that is quickly
developing, in achieving sustainable development is to promote the adoption of EVs on a large
scale. Although India has an exceptionally low adoption rate for EVs, it is important to
comprehend the elements that affect EV customer adoption there.

This study report's objective is to identify and assess the many facets of Indian customers'
adoption of electric vehicles. The elements that influence consumer behavior towards EVs will
be examined in the study, including attitudes towards EVs, awareness of EVs, and perceptions of
the advantages and disadvantages of EVs.

The study will also offer insights into the prospects and difficulties for EV adoption in India. The
availability and usability of charging infrastructure and the role of the government and other
stakeholders in supporting the adoption of EVs will also be examined.
The research article is significant because it will add to the body of knowledge already available
on EV consumer acceptance in India. The study's findings will shed light on the issues that must
be resolved to encourage EV adoption nationwide. The study will also inform businesses,
governments, and other stakeholders that can aid them in creating successful plans to promote
EV use.
The study is crucial since it tackles India's urgent demand for sustainable transportation and
examines the factors driving consumer acceptance of electric vehicles in that nation. The study
will offer insights into overcoming the obstacles preventing the mainstream use of EVs and
identify possibilities and difficulties for EV adoption.
Objective of Study

"A Study on the Factors Affecting Consumer Adoption of Electric Vehicles in India" aims to
pinpoint and examine the significant factors influencing Indian consumers' acceptance of electric
vehicles. In addition to reviewing the obstacles preventing the widespread acceptance of EV in
the local market, the study seeks to understand the attitudes, opinions, and preferences of
potential consumers of electric vehicles. The study also aims to offer policymakers and
manufacturers advice on how to encourage the adoption of EV in India while considering the
nation's distinctive cultural, economic, and infrastructure features.
 CHAPTER-1

Introduction
There are initiatives to encourage energy-efficient and alternative fuel vehicles in response to
worries about growing oil prices, energy security, and climate change. average corporate fuel
efficiency (CAFE) regulations has been raised in India, and state and federal incentives for
hybrid electric cars and, more recently, plugin hybrid electric vehicles (PHEVs) and battery
electric vehicles have also been implemented (BEVs). The study's main subject, PHEVs and
BEVs, is referred to as electric vehicles (EVs).
By Because of their link to the electric grid, electric vehicles (EVs) need little or no internal fuel.
PHEVs have a gasoline tank and a battery that they can utilise. and continue to support the
situation
Previous research indicates that EV adoption will be constrained if the cost difference between
EV and internal combustion engine (ICE) vehicles is not reduced. Options include falling battery
costs as well as legislative actions like raising the price of gasoline and diesel (through a tax) and
providing direct subsidies.
Adoption of EVs has obstacles beyond only the financial ones, as evidenced by poll results from
major U.S. cities showing that declared interest to purchase EVs is fairly low, mostly due to
range concerns. The availability of a charging network, for example, will be important for EV
adoption.
Individual Indian. States also provide a variety of incentives in addition to federal objectives and
programmes.
For instance, India aided and up ₹10,00/kWh of battery capacity (up to ₹1,600000/vehicle) for
the first 1000 cars purchases.
Most EV adoption rates have fallen short of initial targets despite considerable government
assistance. Understanding potential and anticipated EV adoption patterns and mechanisms that
more directly influence adoption rates is crucial for planning and policy purposes. In this essay,
studies on the variables influencing EV adoption rates are discussed.
The experience of HEVs and broader technological dissemination are referenced in EV literature
This research offers literature-based predictions for EV adoption in India based on a collection
and harmonization of EV adoption forecasts.
Adoption of EVs has obstacles beyond only the financial ones, as evidenced by poll results from
major U.S. cities showing that declared interest to purchase EVs is fairly low, mostly due to
range concerns. The availability of a charging network, for example, will be important for EV
adoption.
There are several types of EVs, including:
1. Battery and Electric Vehicles (BEVs): These automobiles lack a conventional internal
combustion engine and are solely powered by rechargeable batteries.
2. Hybrid and Electric Vehicles (HEVs): These vehicles use both an electric motor and a
traditional combustion engine, which work together to improve fuel efficiency and reduce
emissions.
3. Plug-In Hybrid and Electric Vehicles (PHEVs): These vehicles are like HEVs, but they
have larger battery packs that can be charged by plugging the vehicle into an external
power source.
4. Fuel Cell and Electric Vehicles (FCEVs): These vehicles use a fuel cell to generate
electricity from hydrogen, which powers the electric motor.
EVs are becoming increasingly popular due to their potential for reducing greenhouse gas
emissions and improving air quality. Additionally, EVs can often be cheaper to operate and
maintain than traditional vehicles, as they require less frequent maintenance and electricity can
be a cheaper fuel source than gasoline or diesel.
With the introduction of the Nissan Leaf and Tesla Model S, the modern electric car market
started to pick up speed in the early 2010s. Since then, several significant automakers have
launched their electric car lines, and the market for these vehicles has grown in popularity and
inventiveness.
THE NEED FOR EV
Due to the harm regular gasoline-powered automobiles cause to the environment, the necessity
for electric vehicles has grown in importance in recent years. The transportation industry
produces a sizable amount of greenhouse gas emissions that contribute to climate change.
Electric cars have no direct emissions, which can lessen the number of dangerous pollutants
emitted into the atmosphere. Also, using electric vehicles can boost energy security and lessen
reliance on fossil fuels. Electric vehicles are becoming a more sensible and financially viable
alternative for consumers and businesses thanks to battery technology and charging
infrastructure developments. , it results in the development of ev is essential for reducing
transportation's adverse environmental effects and advancing the development of a more
sustainable future.

HISTORY
The first electric automobile is believed to have existed in the late 1800s. Electric cars (EVs)
have been operating for more than a century. However, because of improvements in battery
technology and growing concerns about climate change, the technique was only recently widely
used.

Below is a synopsis of the history of the electric car:

The first electric vehicle was created in 1834 by Vermonter Thomas Davenport. It was a
miniature locomotive with a crude electric motor.
In London, England, Thomas Parker creates the first usable electric vehicle.
1899: With two direct-drive electric motors, the La Jamais Contente breaks the 100 km (about
62.14 mi)/h (62 mph) speed barrier for the first time.
Due to their quiet and clean functioning, electric vehicles notably gained popularity in cities in
the early 1900s. and clean operation, especially for delivery and taxi services.
1908: Henry Ford introduces the Model T, which popularizes gasoline-powered vehicles and
leads to the decline of electric vehicles.
1996: General Motors introduces the EV1, the first modern electric car designed for mass
production. It was only available for lease and was later recalled and destroyed.
2008: Tesla Motors introduces the Roadster, the first highway-capable electric car with a range
of over 320 km (200 miles).
2010s: Electric vehicles become more mainstream with the introduction of the Nissan Leaf,
Chevrolet Volt, and Tesla Model S.
2020s: Electric vehicles continue to gain popularity as battery technology improves and more
governments and companies set targets for carbon neutrality
.
The structure of this report contain . Part II outlines elements that affect EV adoption.
Studies that examine the evolution of EV adoption rates are reviewed in Part III.
Part IV condenses this research to the instance of India and offers three potential routes for EV
adoption.
Conclusions are provided in Section V along with the study's limitations and plans for further
research.

Keywords: - Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs), Corporate
Average Fuel Economy (CAFE), Plug-In Hybrid Electric Vehicles (PHEVs),
 CHAPTER-2
Factors Influencing Consumer Adoption of Electric Vehicles in India

consumers are actually much more likely to purchase electric powered automobiles (EV) as a quick
growing trade to cars that use fossil fuels like petrol , diesel, and compressed herbal gas (CNG) because
of the overdressing environmental worries because of fossil gas depletion and greenhouse gasoline
(GHG) emissions. They have a look at numerous variables that affect the adoption of electric cars,
consisting of obstacles related to cash, car overall performance, a scarcity of charging stations,
environmental renovation, cultural norms, and public focus. The study's conclusions help selection-
makers modify the policies now governing electric vehicles in emerging international
locations.Environmental Factors

Green Energy

Using electric vehicles more frequently (EVs) is intricately linked to the development of green
energy sources, such as renewable energy. This is because EVs rely on electricity as their primary
source of energy, and if the electricity comes from fossil fuels, then the environmental benefits of
EVs are reduced.
However, if EVs are charged using electricity generated from renewable sources such as solar,
wind, or hydropower, then the environmental benefits are significant. The use of green energy
sources for charging EVs can lead to a reduction in greenhouse gas emissions and air pollution, as
well as a decrease in reliance on finite resources such as oil.
Furthermore, the adoption of EVs can also contribute to the growth of the renewable energy
industry. This is because EVs can serve as a storage device for excess renewable energy generated
during periods of low demand. The batteries in EVs can store this excesswhen there is a lot of
demand for energy, and release it back into the system, helping to balance the supply and demand
of electricity.
Overall, the adoption of EVs is intricately linked to the growth of green energy sources, and vice
versa. The two can work together to create a more sustainable and environmentally friendly
transportation system.
Grid Development

Grid development is crucial for the widespread adoption of electric vehicles (EVs) because it
enables the efficient and reliable charging of these vehicles. Here are some key considerations for
grid development in relation to EV adoption:
5. Infrastructure: EV charging infrastructure should be built and maintained to meet the
growing demand for charging stations. This includes installing charging stations at
convenient locations, such as parking lots, highways, and public spaces.

6. Grid capacity: The grid must be able to handle the increased demand for electricity that
comes with widespread EV adoption. This means upgrading and expanding the grid
infrastructure to accommodate the additional load from EV charging.

7. Smart charging: Smart charging technologies can help manage the demand for electricity
and reduce the strain on the grid. These technologies allow EVs to charge during times
when demand for electricity is low, such as overnight or during off-peak hours.

8. Renewable energy integration: As EVs become more popular, it becomes increasingly

important to integrate renewable energy sources into the grid. This helps reduce the
environmental impact of EV charging and ensures that the grid can meet the demand for
electricity without relying on fossil fuels.

9. Collaboration: Collaboration between industry, government, and other stakeholders is

essential for grid development and the adoption of EVs. This includes working together
to develop policies and regulations that support infrastructure for EV charging is being
installed.and the expansion of the grid.

Overall, grid development is essential for the widespread adoption of EVs. By building the
infrastructure needed to support EV charging and managing the demand for electricity, we can
help ensure that EVs become a viable and sustainable alternative to traditional gasoline-powered
vehicles.
Manufacturing Factors

These factors are considerations the EV industry makes when developing and producing
vehicles. Without many available vehicles, consumers are limited to what is out there. The rate
of adoption will match the rate of production.

Incentives

Incentives for Electric Vehicles (EVs) vary by country and region, but some common types of
incentives include:
10. Tax incentives: Governments may offer tax credits, rebates, or exemptions for EV buyers
or manufacturers to encourage adoption and support the development of EV technology.

11. Purchase incentives: Governments may provide cash rebates or subsidies for EV buyers
to lower the purchase price and make EVs more affordable.

12. Charging infrastructure incentives: Governments may offer grants, tax credits, or other
incentives to encourage the construction of charging infrastructure, like public charging
stations.

13. HOV lane access: Some regions offer electric vehicle owners Accessible high-occupancy
vehicle , (HOV) lanes, even if the vehicle has only one occupant, to encourage EV
adoption and reduce traffic congestion.

14. Parking incentives: Some cities offer free or discounted parking for EVs, making it easier
and more convenient for EV owners to park and charge their vehicles.

15. Incentives for businesses: Governments may offer tax credits or other incentives to
businesses that purchase EVs for their fleets or install charging infrastructure for their
employees.
Overall, these incentives can make EVs more attractive to consumers and help to accelerate the
transition to a cleaner, more sustainable transportation system.

Internal Factors

Battery prices, purchase price, driving range, and charging time are examples of internal factors,
or features of the EV itself, that affect EV adoption. The major barriers to EV adoption are their
high price, short driving ranges, and lengthy charging periods.
EVs often cost more than identical ICE or HEV (Hybrid Electric Vehicles) models.

The cost of the EV version of the car is significantly more for the Ford C-Max, Fusion, Focus,
and Toyota Prius.
Since battery costs have a significant impact on purchase price .
Driving Range

The driving range is the second biggest obstacle to EV adoption, after price, according to a 2013
survey.More than 70% of participants said that range is either a significant drawback or a
drawback. This understates the genuine worry about driving range among Indian customers
because the study was limited to metropolitan regions, where people are more likely to be less
concerned about driving distance than people in rural areas (see travel distance below). In a
similar vein, they discovered that respondents are far more interested in purchasing .
Depending on the model and manufacturer, the range of electric cars (EVs) might vary greatly.
The range of an EV, in general, refers to how far the car can go on only one battery charge.
Some EV models can now go more than 400 miles on a single charge thanks to improvements in
battery technology in recent years. Nonetheless, many entry-level models could only have a range
of 100 miles or less.
It is also important to remember that many variables, like driving habits, environmental conditions,
and topography, can influence an EV's range. Because more energy is needed to heat the cabin in
wintry weather, EVs often have a lower range.
In general, an EV's range is a crucial factor for prospective purchasers to consider as it may
significantly affect the car's suitability for their unique demands.

. Charging TIME
Perhaps less harmful than the driving range is the charging process.. Almost 40% of participants
in the survey conducted by Crysal. agreed that it was "somewhat or a disadvantage." Even so,
there can be a high demand for quick charging times.
The charging speed of an electric vehicle (EV) can depend on several factors such as the battery's
capacity, the type of charging station, and the battery's state of charge.
EVs have three types of charging: Level 1, Level 2, and Level 3 (also known as DC fast charging).
Level 1 charging uses a standard household 120V outlet and can take up to 20 hours for a full
charge,
While Level 2 charging uses a 240V outlet and can take between 4 to 8 hours depending on the
vehicle and battery size.
DC fast or Level 3 charging is the fastest method and can provide up to 80% charge in as little as
20-30 minutes. However, not all EVs can support Level 3 charging; some may require an adapter.
External factors such as temperature, battery age, and the charging station's capacity can also affect
the charging speed. In colder temperatures, the charging speed may be slower, while higher
temperatures may increase the risk of battery damage if charged too quickly.
In summary, the charging speed of an EV can vary depending on several factors. Still,
advancements in technology are constantly improving charging times and making EVs more
convenient and accessible for everyday use.
Around Rs 5,000 and Rs 7,500, respectively, are the average respondent's willingness to spend to
shorten the charging time from 10 to 1 hour and 10 hours to 50 minutes.

External factors

Cost savings: EVs have lower operating costs than gasoline or diesel vehicles, as electricity is
cheaper than petrol or diesel. In addition, EVs require less maintenance and have fewer parts that
can break down, reducing repair and replacement costs over time.
The cost of electric vehicles (EVs) can vary widely depending on several factors such as the make
and model of the vehicle, the size of the battery, the type of charging system, and the geographic
location. EVs tend to have higher upfront costs than gasoline-powered counterparts, but they may
save money eventually due to lower operating costs.
One way to compare the cost of EVs to traditional gasoline-powered vehicles is to look at their
total cost of ownership over the vehicle's lifetime. This includes the initial purchase price,
maintenance costs, and fuel costs. While EVs may have a higher upfront cost, they typically have
lower maintenance costs and require less frequent maintenance than gasoline-powered vehicles.
Additionally, electricity is typically cheaper than gasoline, so the fuel costs of EVs are often lower.
Another factor to consider is the availability of tax incentives and rebates for purchasing EVs. In
many countries, governments offer incentives to encourage the purchase of EVs. These incentives
can include tax credits, rebates, and reduced registration fees. These incentives can significantly
lower the upfront cost of an EV and make it more competitive with traditional gasoline-powered
vehicles.
Overall, while EVs may have a higher upfront cost compared to gasoline-powered vehicles, they
can be more cost-effective eventually due to lower operating costs, tax incentives, and reduced
environmental impact. As battery technology continues to improve and production costs decrease,
we can expect to see the cost of EVs continue to come down, making them more accessible to a
broader range of consumers

Increase in petrol price in comparison to electricity prices

petrol prices have tended to be more volatile than electricity prices. Petrol prices can be impacted
by a number of variables, which can cause prices to fluctuate quickly, including fluctuations in
the global supply and demand for oil, geopolitical events, and natural disasters.Electricity prices,
on the other hand, are influenced by a variety of factors as well, but tend to be more stable over
time. Factors that can affect electricity prices include the cost of generating electricity,
transmission costs, government policies, and weather conditions.
According to the "Fuel and Power" price index released by the Reserve Bank of India (RBI), the
country's primary banking regulator, fuel and power prices in India increased by 47% between
January 2016 and August 2023.
According to the Consumer Price Index (CPI) released by the RBI, the rose is six times greater
than the nation's overall consumer prices, which rose by 15% during the same period.
Over the years, there have been instances where petrol prices have increased more rapidly than
electricity price
.
Government incentives and schemes:
The Indian government has implemented several incentives to promote the adoption of EVs,
such as tax exemptions, subsidies, and reduced import duties on EV components. These
incentives help to lower the initial cost of EVs and make them more affordable for consumers.
The government of India has launched so far – FAME-II, PLI SCHEME, and Battery Swapping
`Policy, Special Electric Mobility Zone, Tax Reduction on EVs.

FAME-PROJECT

The FAME (Faster Adoption and Manufacture of Electric) India initiative was launched by the
Indian government on April 1st, 2015, in an effort to reduce the usage of gasoline and diesel
cars. The adoption of electric mobility in India was greatly aided by this effort. All vehicle types
are encouraged under the FAME India Plan. There are four main areas of concentration for the
Fame India Program.+

• Pilot projects,
• technological need
• technological advancement,
• infrastructure for charging
With a budget of Rs 10,000 crore, the FAME II scheme was launched in April 2019 to support
500,000 e-two-wheelers, 5,000 e-three-wheelers, 7,000 e-buses, and 55,000 e-passenger
vehicles. The goal was to encourage wider EV usage in India.
The budget allocation for India's FAME-II Program for Electric Vehicles has increased by 80%.
The predicted INR (Indian rupees) 51.72 billion budget allocation for India's FAME-II scheme to
encourage clean mobility for FY24 highlights the country's objectives to meet climate action
commitments while lowering its reliance on fossil fuels and energy imports. Because market
participants must adhere to solid localization goals, the scheme's implementation has also
become more stringent.

India is currently the third-largest car market in the world by sales, yet the country has a minimal
number of electric vehicle owners. The FAME-II program's subsidies are designed to reduce
prices and broaden the market attractiveness of electric and hybrid vehicles. The administration
is also focused on minimizing reliance on imports.
PLI SCHEME

The Department of Heavy Industries established the Production Linked Incentive for Advanced
Chemistry Cell Battery Storage (PLI-ACC Scheme) in June 2021 to entice both local and global
investors to invest in India's Giga scale ACC production facilities. The scheme's total payment is
INR 18,100 crore. The manufacturing plant must be operational within two years and achieve a
60 percent domestic value addition within five years in order to be eligible for subsidies.
Nevertheless, due to strict selection criteria, small and mid-sized enterprises that produce EV
batteries and automobile components are not eligible to qualify for the scheme's advantages.

Battery Swapping Policy

The administration intends to introduce a battery swapping scheme, according to the finance
minister. The battery needs for EVs used throughout India will be standardised through this
scheme. Although on-the-spot recharging, which can take hours, is more feasible than replacing
a low battery with a fully charged one, the regulation will help to promote EVs in time-sensitive
service sectors like delivery and intercity transit. Interoperability will be easy as a consequence.
If all the batteries are the same configuration for all EVs in the same category, customers do not
need to worry while replacing their batteries or be concerned about the configuration of new
batteries being fitted.
The battery switching scheme will benefit the manufacturers as well. It will also be simpler to
find machine parts.

Special E-mobility Zone

Government officials want to designate specific areas as electric car mobility zones. The
management will only let electric vehicles to operate in the designated locations. Such
regulations are in force in China and several European countries. Special Electric Mobility Zones
will unintentionally reduce traffic caused by private automobiles. Passengers via these zones are
required to operate their own EV or ride in a shared EV, increasing the market share of EVs.
Currently, India has a total of 1650 operational public EV chargers. Out of which, 9 cities
(Surat, Pune, Ahmedabad, Bengaluru, Hyderabad, Delhi, Kolkata, Mumbai, and Chennai)
account for approximately 840 stations

Duty Reduction on Electric Vehicles

Reduced Taxes for Electric Cars A proposal to reduce customs charges on nickel concentrates,
nickel oxide, and ferronickel from 7% to 0%, 8%, and 2.5%, respectively, is included in the
budget. An essential component of lithium-ion batteries, which are used in electric vehicles, is
nickel manganese cobalt (NMC) (EVs). These ores are scarce in India, where battery production
is heavily reliant on them. Hence, most nickel alloys are imported. Local manufacturers of EV
batteries will reduce production costs thanks to the reduction in customs taxes.
Consumer Characteristics
The degree of environmentalism, gender, money, number and type of cars in one's garage, level
of education, and enthusiasm for technology all have an impact on one's decision to buy an
electric vehicle (EV). A consumer is more likely to be "EV-oriented," according to statistics, if
they care about the environment, have access to HEVs, have a place to install EV outlets, are
likely to buy a small or medium-sized passenger car, go on at least one long drive per month, and
prefer to purchase new goods. With varied degrees of significance, there is a positive correlation
between income and HEV market share in India. A multi-car household and a higher income
both contribute to this, and having several vehicles at home can prevent customers from making
a short trip. initial adopters

Travel Distance
Travel distance is crucial because EVs may have a restricted driving range. Urban density is
therefore utilized as a proxy for travel distance because this is frequently associated with
problems with urban form (as in Sierchula et al. 2014). This is one of the reasons Carley et al.
(2013) limited their survey research to American cities. The topic of trip distance is one of the
characteristics in which PHEVs (Plug-in hybrid electric vehicles) and BEVs significantly
diverge, as stated in the internal factors section. Although BEVs typically travel farther on an
electric drive than PHEVs, BEVs unquestionably have a limited driving range, which may lead
to range anxiety. With the second fuel-based engine, PHEVs do not have this issue. As a result,
PHEVs might resemble HEVs more in this regard.

Environmental concerns
Many people now choose electric cars (EVs) over conventional gasoline or diesel vehicles
because they emit less pollutants and are thought to be more ecologically friendly as a result of
rising environmental consciousness.
According to a research, a state's average yearly vehicle miles driven and its market share of
HEVs are closely connected (VMT). He and colleagues (2012) found that those who often use
highways had a tendency to care more about a car's fuel economy. Hidrue et al. found that
consumers who drive "at least one month longer than 100 miles" are more likely to be BEV-
oriented (2011). This result makes sense since, if a person travels more, they could be more
likely to choose a car that uses less gasoline because the savings will accumulate more rapidly.
.
Public Awareness and Variety of Vehicles
Public visibility is related to peer and network effects, technological acceptance, and comfort
examine cars as a "status symbol" that encourages anti-environmental behaviour. They suggest
that raising the perceived value of an automobile's amenities is one tactic for marketing low-
carbon vehicles. In contrast, HEVs and EVs are more well-liked because people believe that they
represent "knowledge, responsibility, and support of the environment and nation," according (
findings from a survey of new car purchasers a report found that EV users felt they are more
susceptible to stereotypes in a survey of EV users in the UK
.
Due to the increased number of vehicles on the road, EV visibility should increase. The
"neighbourhood impact" model developed by Axson et al. (2009) predicts that the market share
of HEVs will increase while intangible costs will go down.
When EVs have been available for purchase is one possible sign.
Public awareness metrics (Sierzchula et al., 2014). In India's urban regions, electric vehicles are
arranged according to the year they were first introduced.
Using the application of a statistical model that employed survey data on Canadians' priorities
for clean car technologies, Mau et al. (2008) found that consumer choices are impacted by the
level of market penetration of clean vehicle technologies.

Helping the Development of Charging Infrastructure

It may be reasonable for the government to support the development of EV infrastructure for
public. Moreover, it might be a potent argument in favor of a policy.
According to research, infrastructure has the most powerful policy effect on the rate of new EV
sales studies (2012) addressing the significance of developing and implementing demanding
infrastructure standards early on to ease this transition.

In particular, providing one charging station (per 200,000 residents) has doubled the country's
rate of new EV sales as $2,000 in financial incentives.
It is necessary to create standards for two-way electrical transfer, even in commercial settings.
Raising Awareness
According to surveys, consumers typically require more accurate or full information when
making a car purchase. , they discovered that few individuals actually realize how much a car
costs. In a study of consumers in 21 key Indian cities, it was found that while consumers may
know more about gasoline costs, taxes, and insurance, they might not know as much about
depreciation and government incentives for cleaner automobiles. Over two-thirds of respondents
offer inaccurate information on electric vehicles,. . 75% overestimated their value or advantages.
85% did not know about federal, state, and municipal incentives.
Corporate social responsibility: In India, businesses are putting more of an emphasis on
sustainability and lowering their carbon footprint, and one way to do this is by incorporating EVs
into their fleets. This pattern is probably going to accelerate the country's EV adoption.
The acceptance of Ev vehicle in the country is mostly being driven by a mix of economic,
social, and environmental considerations, and this ritual is anticipated to continue in the years to
come.

Five model that India can follow for Consumer Adoption of

Electric Vehicles in India
For a time now, India has been considering adopting electric vehicles (EVs). Despite the nation's
lofty goal of electrifying its fleet by 2030, EV adoption has lagged due to inadequate
infrastructure and awareness. Yet, India can implement several effective strategiesto utilise
electric vehicles more often. These are the first five:
The Norway Model: By offering incentives like tax breaks, free parking, waived tolls, and
access to bus lanes, Norway has effectively encouraged using electric vehicles. As a result,
Norway is now one of the world's top EV markets. India can implement comparable incentives
to promote the use of EVs.
China as a Model: China has made enormous investments in building EV infrastructure and
production, which has significantly increased EV adoption. India can implement this strategy by
putting money into EV manufacturing and charging stations to encourage EV adoption.
California Model: California has implemented several policies to promote EV adoption, such as
zero-emission vehicle (ZEV) mandates, which require automakers to sell a certain number of
ZEVs. India can also implement similar mandates to promote EV adoption.
Amsterdam Model: By combining incentives and infrastructural improvements, Amsterdam has
effectively boosted EV adoption. The city has placed charging stations in public areas and offers
EV owners free charging. India might adopt this strategy by encouraging the construction of EV
charging infrastructure and offering incentives for installing charging stations.

Sweden Model: Sweden has implemented laws to encourage EV use, including tax incentives
for EV purchases and lowering taxes on renewable energy. Similar rules might be implemented
in India to promote EVs and renewable energy sources.
In conclusion, India can implement a combination of all such model incentives, mandates, and
infrastructure development to promote EV adoption by learning from successful models from
Norway, China, California, Amsterdam, and Sweden.

DATA INTERPRETATION

Methods used to study the Factors Influencing Consumer Adoption of Electric Vehicles in
India
 ● All the factors that we think are important to understand the Adoption of Electric Vehicle like
by understanding what are the internal and the external affecting Adoption of Electric Vehicles
in India
● After the general analysis of the factors we have tried to analyze the government policy and
subsidies supporting EV infrastructure in India
● Finally, the impact of EV Adoption and its roles on people’s day-to-day lives and on their
minds was concluded with the help of a questionnaire

Preparation of Questionnaire
To understand the influence of fintech on EV adoption in India, all the elements that were
analysed were insufficient to draw any conclusions. Hence, a survey was created to determine its
impact. The questionnaire was designed to be straightforward, and we made an effort to be
honest and add some intrigue so that responders could relate to all of the questions.
Details of the survey we conducted

Type of research Our research design was descriptive

Nature of research Basic research
Research design used Quantitative
Sample Size
Target Population Teenagers, college-going students, Adults
Sampling used Stratified
Instruments used for data collection semi-Structured questionnaire And
Interview
No. Of questions asked

What type of questions Closed ended and 1 open ended

Size Sample
More than 120 participants, including college students from different regions of India and their
families, received our survey. 100 of the total number of persons we emailed our questionnaire to
successfully answered. The 83.33% response rate is regarded as an excellent response rate for
research. The research's sample size is 100 as a result.
Collection of Data
I. Primary Data: Use of questionnaire was made for a collection of primary data
ii. Analysis of Secondary Data
● Articles/ references were studied from previously published research papers
● We studied Secondary data in depth through various articles published in journals on the internet
which were of high repute... These journals and articles were from Dr. Makena Coffman
● Case studies

Data Interpretation and Analysis

1. AGE

According to our primary data collected through the Google Forms, we observed that there were
diverse age groups, including:

• 13%of the respondents were below the age of 18 years. This included teenagers.

• 64% of the respondents were from the age groups of 18- 30 years. This comprised the age
group which falls under the Gen Z category.

• 16% of the respondents were from the age group of 31- 40 years. This age group does not
fall under the category of Gen Z.

• 7% of the respondents were above the age of 40 years.

An attempt to gather responses from all age groups to a gather a unbaised sample

2. What is your current awareness and knowledge about electric vehicles in India?
According to our primary data collected through the Google Forms, we observed that:

• Around 50% of population surveyed believe that have a moderate knowledge about
Electric vehicle

• 5% of the respondents did not fall under this category. As they are lacking knowledge
regarding EV

Through this data, we were able to achieve the desired results as the focus of the research was to
gain more insight on how Gen Z perceives Electric vehicle

3. Have you ever considered purchasing an electric vehicle?

More than half of the population thought of purchasing EV at least once and we have targeted
youth which is a good sign for India as people are willing to switch to EV

4. Are you concerned about the range of electric vehicles and their charging infrastructure in
India?

OF the total people surveyed Everyone is concerned about the range of Electric Vehicle and we
have also depicted the same in our research project

According to you, which factor plays a vital role in making a buying decision for your electric
vehicle
There was a tough battle among the options provided but we can say that people think of
performance of electric vehicle before buying it

What are the barriers you see in the widespread adoption of electric vehicles in India?

As per the response collected Reliability is the biggest barrier as people think that there is less
Reliability in EV as compared with petrol ones followed by Safety as one the important factor

Is the availability of electric vehicle models and their after-sales service in India adequate?
People think that they are unaware whether the facilities are adequate or not

Do you think adopting electric vehicles can impact the Indian economy and society in the long
run?

Would you consider purchasing an electric vehicle in the future?

INTERVIEW With EV SHOWROOM OWNER AND EV USERS ABSTRACT
Interview with Mr Naresh Dasare
Contact No 89565 10798
Designation Senior manager at Tata Motors Cars Showroom - Rudra Motors, Wagholi

Q: Could you briefly introduce yourself and the path that led you to the EV industry?
Response: - Indeed, my name is Naresh Dasare, and I have had a long-standing interest in cars.
Earlier I used to work in the automotive sector, I got to personally witness the promise of electric
vehicles. I started my study and made the decision to work in a showroom.
Q: That's quite fascinating. Could you give me additional details about your showroom and the
EV models you have available?
Response: - Absolutely. Our store is of Tata Motors, and we offer a wide selection of models
from different tata. From small automobiles to luxurious cars, we have it all, and we are
continuously trying to add new models as they become available. our ev tata cars include Tata
Tiago EV, Tata Nexon EV Max, Tata Nexon EV Prime
Q: What do you think is the biggest advantage of electric vehicles compared to traditional gas-
powered cars?
Response: - there are a lot of advantages to electric vehicles, but I think the biggest one is the
environmental impact. EVs produce zero emissions, so they are much better for the environment
than gas-powered cars. They are also much more efficient, so you can save a lot of money on
fuel costs over time.
Q: That's a big advantage. How do you help customers make the transition from a traditional gas-
powered car to an electric vehicle?

Response: For our clients, we work to make the process as simple as we can. On our website,
you may find a wealth of information, including articles and videos that describe the advantages
of electric cars and how to make the switch. For customers to experience driving an EV firsthand
and observe for themselves how the cars operate, we also offer test drives.
Q: That sounds like a wonderful way to help customers learn more about electric vehicles. What
do you think the future holds for the EV industry?
Response: I believe that electric vehicles have a very promising future. Manufacturers are
making significant investments in R&D as increased consumers become aware of the advantages
of EVs. There are now a lot of intriguing new models available, and I anticipate that the sector
will continue to expand quickly over the coming several years.
Thank you so much for sharing your insights with me today. It has been interesting learning
more about the EV industry from your perspective

EV Users perspective

Pritesh Mangdage Casa house Self Employed, (85528 53006)

I have a tremendous sense of obligation to the environment as the owner and user of an EV
(Ather 450). In addition to lowering my carbon impact, I also benefit from decreased fuel
expenses and little upkeep. The smooth and silent ride that an EV provides is among its best
features. Being behind the wheel without the sound of an engine is strange, and I feel more in
tune with the environment. Electric vehicles (EVs) are the way of the future, and I'm pleased to
be a part of the effort to make the world greener and cleaner.

Deepak (shiv stores Indore, small business owner )

“I've been using electric bikes for a while now and am thrilled with how well they function.
There is no lag or reluctance when accelerating, as you may notice in a conventional gas-
powered vehicle. The handling is superb, with a low center of gravity that makes turning and
maneuvering a delight. And probably most significantly, new EVs now have a range that is
competitive with other options for daily driving. I'm no longer concerned about running out of
power on a more extended vacation because rapid charging infrastructure is becoming more
widespread. Overall, I am ecstatic with how well my EV performs and heartily endorse it to
anyone searching for a dependable, effective, and enjoyable mode of transportation.”

Deepika Yadav (Homemaker) 971441713

“I've been driving an EV for a little over a year now and I have to say, I'm really impressed with
the cost savings. Not only do I not have to pay for gas anymore, but I also get a tax credit for
purchasing an electric vehicle. Plus, the maintenance costs are much lower since there are fewer
moving parts in an EV.”
Well, I used to spend around 200 a week on gas, so that's about RS 9600 a year. But now, my
electric bill only goes up about RS 300 a month, so that's only RS 4000 a year. And when you
add in the tax credit, I've saved over $5,000 in just one year.

CHAPTER –5
FINDING AND CONCLUSION

Findings
16. The study found that lack of charging infrastructure was the most significant factor
hindering the adoption of electric vehicles in India.
17. Consumer awareness and education about the benefits of electric vehicles, such as lower
maintenance costs and environmental sustainability, were also found to be crucial factors.
18. The availability of government subsidies and incentives for electric vehicles positively
influenced consumer adoption.
19. The high initial cost of electric vehicles was a major concern for potential consumers, but
it was found that consumers were willing to pay a premium for a more environmentally
friendly option.
20. The study concluded that addressing the challenges related to charging infrastructure and
increasing consumer awareness about the benefits of electric vehicles could significantly
increase their adoption in India.

Conclusion
This paper summarizes forecast studies for EV penetration rates and reviews the literature on the
elements influencing EV adoption. The development of EV adoption projections within the sale
of automobiles in India is based on a set of scenarios that best reflect the state of the market
today.
The literature analysis makes it clear that considerable work has to be done before it can be
determined if consumers will adopt EVs in a critical mass. This projection is the initial step to
understanding potential EV adoption scenarios in India, but it is rife with assumptions about
technological acceptability,Cost and performance of EVs and infrastructure development. Yet,
presenting a series of likely future adoption rates aids in framing the discussion to comprehend
an acceptable range of uptake possibilities for the sake of policy and planning.
The failure of technology adoption scenarios was intentionally avoided in this study as a lower
bound. This means that the typical system represents a low(er) level of technology acceptance
rather than an accurate lower bound.
Even in this scenario, improvements in EV features and some degree of federal support are
presumptions.
Also, several of the studies used in this study originate from countries where gasoline costs may
be higher than in the United States. Although it is challenging to fully apply to India because the
price of gasoline and electricity is correlated with the oil price, it is clear from the literature that
fuel price is a critical factor in predicted EV adoption. There is a fall in the price of oil globally
(EIA, 2014c). Considering this, it makes sense to warn against putting too much trust in the high
EV adoption scenario. On the other side, there may be compelling evidence that the geography
of Indian islands may minimize range anxiety connected to trip distance

In addition, India's early focus on public EV charging facilities should assuage this worry. This
could affect the proportion of PHEVs to BEVs, and the overall number of EVs sold in Hawaii.
More research is required to understand how India's economy and geography are distinct and
how those influences EV purchase costs and potential EV adaption