SEM-based Analysis of Factors Influencing the Purchase Intention of Electric Vehicle Consumers

Abstract

Consumers' purchase intention plays an important role in the development of the electric vehicle industry. Based on the SOR model, this paper investigates the factors influencing the purchase intention of electric vehicle consumers in four dimensions: product attributes, environmental perceptions, charging policies, and subjective norms. The results show that: product attributes and environmental perceptions may influence consumers' perceived risk, and improving product performance and reducing environmental pollution in the production process will increase consumers' willingness to purchase; charging policy and subjective regulation have significant effects on consumers' willingness to purchase through consumers' perceived value and perceived risk, and improving charging policy will help improve consumers' willingness to purchase. Improving the charging policy helps to enhance consumers' purchase intention; consumers pay more attention to the perceived value of electric vehicles than to the perceived risk. Accordingly, this paper proposes that car companies should focus on the performance of electric vehicles, strictly control the production process, develop marketing strategies, and improve the charging policy jointly with relevant departments to enhance consumers' purchase intention.