The Impacts of Carbon-neutral Renewable Energy Characteristics on Purchase Intention: Focusing on Chinese Electric Vehicles

Abstract

Climate change affects each of us and has significant implications for the global economy. Replacing gasoline-powered vehicles with electric cars is key to reducing carbon emissions in transportation systems around the world. The popularity of electric cars has accelerated in recent years. Global sales of electric vehicles have increased by 56% annually since 2012. Its sales in 2021 doubled from the previous year to 6.75 million units, a record high. In the coming years, many governments have introduced policies to limit or even ban the production of fuel cars, while reducing or exempting taxes on electric vehicles. Governments and businesses around the world are investing heavily in charging facilities. Compared to fuel vehicles, new generation consumers are more likely to buy electric vehicles. This will continue to drive growth in the supply and demand for electric vehicles. The transition from gasoline vehicles to electric vehicles is a global structural change that will offer enormous potential opportunities for market participants. The purpose of this study is to identify the impact of the characteristics of renewable energy under the background of carbon neutrality on government policy, corporate development, and consumers' purchasing intentions. The research object is the consumers of electric vehicles in China, and the statistical analysis used SPSS 23.0 and Smart PLS 4.0. The results of the study are as follows. First, has had a significant impact on government policy. Second, circularity has had a significant impact on government policy. Third, economics has had a significant impact on government policy. Fourth, persistence had no significant effect on the development of enterprise. Fifth, circularity had a significant impact on enterprise development. Sixth, economics had a significant impact on the development of enterprise. Seventh, government policies have had a significant impact on purchase intentions. Eighth, the development of enterprise had a significant influence on purchase intention. Through this study, it has been confirmed that if the characteristics of renewable energy are clear, consumers' intention to purchase electric differential vehicles increases.