1. Introduction
Reducing carbon emissions, driven by climate change mitigation motives, continues to be a prime environmental challenge faced by global economies [
1,
2,
3]. In order to achieve the United Nations (UN) Sustainable Development Goals, transportation decarbonization is a critical aspect, and electric mobility plays a critical role in this area [
4]. The electric vehicle industry (EV) has grown rapidly in the past decade due to government policies and technological advances [
5,
6]. During the past four years, selling electric vehicles has increased by an average of 60% each year [
7]. Approximately 90% of global EV sales take place in China, Europe, and the United States. Globally, there are over 8 million electric vehicles, including both passenger cars and medium/heavy trucks, over half of which are in China [
8]. In 2019, EV sales in the global market slowed down, particularly during the second half of the year, due to the contraction of the car market and reductions in EV subsidies across the major markets [
9]. The percentage of EVs in the global car market is relatively small (2.6%), making it difficult to achieve mobility electrification in the near future. There was an increase of 256.56 million tons in China’s gasoline and diesel consumption between 2012 and 2020 [
10].
The higher expense of EVs, the lesser availability of charging infrastructure, and the extended charging time prevent consumers from purchasing electric vehicles [
11]. The Chinese government has introduced several fiscal and non-fiscal policies to facilitate the acceptance of EVs. There are several forms of fiscal policy in place, including rebates on purchases, tax exemptions for purchases, infrastructure construction subsidies, and subsidies for electricity prices. There are primarily non-financial policies, such as free public charging at public charging stations and exemptions from road tolls [
12]. It is important to note that EVs are sold poorly in the private sector, where the Chinese government is more interested in seeing EVs become a great success. The consumer’s preference for EVs is the most critical factor in the private sector [
13]. Due to this, it is essential to conduct a comprehensive study of the key factors affecting consumers’ adoption of electric vehicles.
Several studies have investigated consumers’ perceptions of environmentally friendly products [
14]; however, very limited studies specifically focused on green vehicles, and most were contradictory. Despite having higher levels of ENK, consumers in emerging countries generally show a relatively low level of environmental awareness, which suggests further research is needed in this area. According to Said et al., participants are aware of a few local environmental concerns, but do not understand how to do sustainable consumption practices [
15]. This study aims to fill the knowledge gap regarding emerging countries’ consumers’ BIs toward green vehicles. It is expected that the demand for green vehicles will increase, and very little is known about consumers’ attitudes towards green vehicles, especially young consumers. When developing marketing strategies for green vehicles, it is essential to take into account consumers’ attitudes, beliefs, and behaviors, as well as their WTP premium for these products. This study explores ENK, performance expectations, IO, SN, and PR in relation to BIs and WTP for electric vehicles.
The present research makes three main contributions. Firstly, in contrast to earlier research, this study addresses a gap in the literature by examining all the elements that may influence BI of electric vehicles in China. According to best of authors’ knowledge, this is the earliest study to determine the importance of BI and WTP for electric vehicles in the Chinese context. Due to recent economic growth and population growth, the country is facing severe energy-related challenges, necessitating comprehensive research on how electric vehicles can be adopted. Secondly, the Theory of Planned Behavior (TPB) is expanded by incorporating three unique dimensions (performance expectancy, information loaded, and perceived risk) that may influence consumers’ BIs and WTP for EVs. Finally, the current study extends the research results in a manner distinct from earlier studies. For example, ENK proved to be a critical dimension in the adoption of electric vehicles. In the same vein, beliefs about the benefits of electric vehicles remain a crucial component of TPB’s theoretical framework.
As for the remaining part of the study, it can be summarized as follows: Firstly, the literature regarding the theoretical foundation and hypotheses formulation is reviewed. Secondly, data collection procedures and a sampling structure are explained to determine the methodology for investigating the research questions. Thirdly, we deliberate the results of the empirical analysis. In conclusion, the paper outlines the research limitations, future opportunities for practitioners, and possible policy implications.
5. Discussion
This study aimed to investigate the factors influencing the BI of individuals from Beijing, China, regarding the purchase of electric vehicles. In general, the findings support the findings of [
81] that respondents from Beijing, China are highly concerned about and committed to preserving their environment. In this study, the aim was to investigate and analyze the drivers of consumers’ BI in order to better understand their WTP for EVs. In this study, consumers’ ENK, PE, IO, SN, and PR are used to estimate consumers’ BI of EVs in Beijing, China.
Our study found that all factors positively affect consumer behavior intentions and WTP for EVs. Firstly, the findings indicate that perceived ENK significantly influences consumer behavior toward electric vehicles. Researchers have found that consumers who are knowledgeable about electric cars are more likely to demonstrate positive behavior toward them. As TPB’s model shows, ENK is a significant predictor of environmental behavior. These results are consistent with previous research that demonstrated ENK is a reliable predictor for consumer BI [
82].
The results of our study also indicate that SN is positively related to EV BI. According to [
83], consumers’ BI is strongly influenced by SN. It has been shown in previous studies that SN has little effect either on BI or actual behavior [
45,
83,
84,
85]. Additionally, we found that IO is negatively associated with the BI of an electric vehicle. The results are consistent with the research of [
39]. In light of these findings, it may be possible to alleviate overload problems by enhancing the quality of EV-related information. Due to this, the quantity and quality of EV-related information play equal roles in determining how much information consumers are overloaded with, depending on the situation.
The results also revealed that SN is a strong influencer of BI. Previous studies have shown that the more pressure an individual receives from significant individuals, the more likely they are to perform a behavior [
47]. Inconsistent with the research of [
48] and [
49], SN is found to positively influence BI. Furthermore, the findings also advocate that PR negatively affects BI. It is possible that PR influences consumers’ purchasing decisions [
55]. According to [
61], consumers have a hesitation to purchase electric vehicles due in part to concerns about safety. An essential factor that may discourage EV acceptance is PR. In light of this, consumers who perceive EV adoption and use risks are more likely to have negative attitudes about these vehicles and reduce their adoption intentions.
Lastly, our findings suggest that BI has strong association with WTP for electric vehicles. In order to determine the WTP of a particular product or service, a buyer must determine their purchasing intentions. However, it should be noted that an individual’s intent to buy a product may not necessarily be accompanied by an intention to pay a premium price over alternatives (Gam et al., 2010). According to findings from the study, participants expressed WTP more for an eco-friendly product and their actual purchasing behavior during an auction. It is interesting to note that respondents with high BI indicated that they would be willing to pay 40 percent more than what they actually paid.
5.1. Theoretical Implications
As part of the study, theoretical implications are provided that enhance the TPB through its contribution to the existing literature on sustainable consumption. Firstly, this research contains a theoretic framework that includes BI and WTP among consumers and the importance of attributes for electric vehicles. In this study, the emphasis is placed on ENK and attitudes regarding the EVs BI. Environmental development aims to create a positive image of eco-friendly products to promote their purchase [
86,
87]. Furthermore, the conceptual model presented here is unique in that it has been developed and tested in a developed market (e.g., China). We also found that PR plays an important role in understanding sustainable consumption behavior. In accordance with previous research, a feeling of risk might lead to emotional responses to environmental degradation and its state, which, in turn, may lead to a strong commitment at the individual level to environmental causes. Additionally, cross-national studies have found that perceptions of environmental risks may influence attitudes and behaviors.
5.2. Policy Recommendations
Due to our findings, we may need to make some important policy recommendations in order to increase EV buying intent and promote EV development in China. First, the Chinese government and companies need to focus more on improving the infrastructure for fast charging and safety of electric vehicles. This research will significantly impact consumer knowledge and perceptions of electric vehicles. As a result, consumers of electric vehicles may be more inclined to make a purchase.
Second, governments and companies must work together to increase consumers’ awareness of electric vehicles. In order to accomplish this, it would be necessary to disseminate information about EVs and demonstrate how they can be used to regenerate the environment while reducing operating costs. The use of exhibitions and experience centers can further educate the public about electric cars. It is possible for consumers to improve their understanding of crucial policy decisions through public service announcements (PSA), e.g., through TV advertisements and expert forums.
Thirdly, it is also important to create and strengthen monetary incentives policies to encourage customers to buy electric cars. In spite of the fact that electric cars (EVs) have become a commercial product in some markets, they are still at the beginning of their development process. A substantial level of support from the government is needed. It is preferable for the government to adopt a five-year tax-free policy on electric vehicles instead of imposing a 1% sales tax. In addition, charging station electricity prices should be lowered. To improve the performance of electric vehicles, incentives should be given instead of subsidizing electric vehicle sales. It is possible to offer subsidies to non-EV owners so that they can buy EVs.
Finally, it would be helpful if policymakers could provide additional information on the benefits and drawbacks of EVs in order to help people transition to the next stage of evolution. The difference between intrinsic motivations to purchase EVs (and their costs) might also close if they understand their driving habits and the services they can offer. In this way, people will not need incentives for switching to electric vehicles. In spite of this, the effectiveness and efficiency of financial policies are likely to decrease as people shift to electric vehicles. There may be a greater benefit to focusing on behavior modification rather than providing incentives to everyone.
6. Conclusions
The results of the study reveal that the level of consumer ENK, PE, IO, SN, and PR regarding electric vehicles is positively and significantly associated with BI. The observational results of the study also show that consumers’ BI has a positive and significant influence on WTP for EVs. The study’s findings demonstrate that companies must let consumers know about the environmental and safety regulations that require the development of electric vehicles, which validates their higher cost and price. In this study, the importance of ENK and other attributes is highlighted as a factor in purchasing eco-friendly electric vehicles. Finally, the study recommends that future researchers use survey data or research designs to assess how consumers use automated vehicles.
It should also be noted that there are some limitations to this study. There are five factors that significantly promote consumers’ EV BI: perceived ENK, PE, IO, SN, and PR measures. Nevertheless, this research only examined the direct effects of the above factors on BI, and the theoretical mechanism analysis is still inadequate. Future studies could explore the indirect effect of the antecedent variables mentioned above on WTP via the mediating role of BI. Additionally, this study was conducted in the city of Beijing, China. However, the findings of future studies should be generalized to more cities based on their electric vehicle usage rate. Moreover, the study applies theory to environmental behavior; major antecedents are included in this study. Future studies can apply eco-conscious models, value-belief-norm theories, and norm activation models to environmental behavior. A future study could include additional psychological variables, such as empathy and morality.