The Effects of Consumers' Electric Vehicles Purchase Intention: A Perspective from Theory of Consumption Values and Technology Acceptance Model

Abstract

The purpose of this study is to examine influences towards consumers' in purchasing electric vehicles in Malaysia. As Malaysia aims to reduce carbon emission and going green seems to be the way going forward to a sustainable world, thus, adopting electric vehicle is a feasible plan in reducing carbon emissions within the country. Electric vehicle is also a green product that can represent the automotive industry. This study applied the Theory of Consumption Values and Technology Acceptance Model, which proposed that Functional Value, Conditional Value, Social Value, Emotional Value, Epistemic Value, Perceived Ease of Use and Perceived Usefulness will impact consumer's purchase intention for electric vehicles in Malaysia. In addition, this study also leverages on the effect of Environmental Awareness and Government Intervention on electric vehicles purchase intention in Malaysia. Quantitative research approach was adopted in this study and a selfadministrated questionnaire was used in collecting a total of 126 sample size from working adults in Malaysia. Findings illustrated that Conditional Value, Emotional Value, Epistemic Value, Perceived Usefulness and Government Intervention have significant and positive relationship with attitude towards using electric vehicle, stating these are the values that customers expect before purchasing electric vehicles in Malaysia. On the other hand, Social Value, Functional Value, Environmental Awareness and Perceived Ease of Use have insignificant relationship with attitude towards using electric vehicle, meaning the customers are not affected by these values when making a decision of purchasing an electric vehicle in Malaysia. Furthermore, attitude towards using electric vehicle has a positive and significant relationship with purchase intention towards electric vehicles in Malaysia. This study verified the combination of the Theory of Consumption Values and Technology Acceptance Model's applicability in examining consumers' purchase intention towards electric vehicles, providing information for future researchers. The results of this research provide insight of consumer behaviours towards electric vehicles in Malaysia, allowing electric vehicles manufacturers and marketers to provide additional value that customers demand and appreciate, stimulating the purchase intention of electric vehicles in Malaysia.