Background: The adoption of electric vehicles (EVs) has been largely discussed and investigated by the industry and researchers as a means to support the transition from fossil-fueled-based vehicles to more environmentally sustainable solutions, as the EVs are. However, adoption is not ramping-up as the industry expected even though the technology proved to be ready for the market. The reason for it could vary, nevertheless common factors have been identified. Purpose: This work aims to understand which factors appear as a concern regarding willingness to purchase EVs in Sweden and what strategies original equipment manufacturers (OEMs) should adopt to enhance the widespread EV adoption. Methodology: A questionnaire based on 5 level Likert scale was distributed to the Swedish population to investigate factors that affect EV adoption such as the high cost of the EVs, lack of charging station infrastructure, EVs’ driving experience, EVs’ driving range, removal of governmental subsidies for EV, availability of different EV models, battery life and EVs safety aspects. Responses were also gathered on the perceived effectiveness of OEMs adoption strategies. A multiple linear regression was used to test 8 hypotheses on willingness to purchase EVs. Results and Analysis: Of the 8 factors analyzed, only two, namely driving experience and range were significant to the model generated on willingness to purchase EV, in which 66% agreed or strongly agreed that they are willing to purchase EVs. On the OEM strategies, the study observed that OEMs should invest in strategies to allow the public to experience driving an EV, as well as educate the population about the technology, its benefits, and the total cost of ownership (TCO). Conclusion: The results indicate that in Sweden factors such as driving experience and range are still relevant to influence the willingness to acquire an EV, on the other hand, the cost of EVs, removal of government subsidies, and the other factors previously mentioned do not impact the respondent’s willingness. To boost adoption, OEMs should focus their strategies on refreshed market segmentation, customer education, test drive experience, and marketing. Recommendation for future research: It is recommended that future research should have a higher sample size that is distributed based on Swedish population density to enhance the statistical significance of the analysis. Additionally, more factors affecting EV adoption could be investigated in the future, such as the sustainability of battery material sourcing.
| Identifer | oai:union.ndltd.org:UPSALLA1/oai:DiVA.org:bth-25152 |
| Date | January 2023 |
| Creators | Osadolor, Osagie Alex, Balaniuc, Christian Grimm, Tuei, Leonard Sang |
| Publisher | Blekinge Tekniska Högskola, Institutionen för industriell ekonomi |
| Source Sets | DiVA Archive at Upsalla University |
| Language | English |
| Detected Language | English |
| Type | Student thesis, info:eu-repo/semantics/bachelorThesis, text |
| Format | application/pdf |
| Rights | info:eu-repo/semantics/openAccess |
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