Exploring the Decision to Adopt a High-End Battery Electric Vehicle: Role of Financial and Nonfinancial Motivations. Issue 1 (2016) - Hardman, Scott
The decision to adopt a battery electric vehicle (BEV) can be influenced by a number of factors. Previous research into the decision to adopt a BEV has revealed several factors important for consumers, including financial incentives. Recently, high-end BEVs, such as the Tesla Model S, have had market success. These vehicles are remarkably different from mainstream BEVs, and the adopters of these BEVs have been overlooked within the literature. An attempt is made to understand who is adopting high-end BEVs, why they are doing so, and how important are the financial incentives for this group of adopters. Data on high-end adopters were gathered through a questionnaire, which yielded 539 responses. In-depth interviews with 33 adopters were also carried out. The following are among the findings: environmental, performance, and technological motivations are reasons for adoption; the new technology brings a new segment of buyers into the market; and financial purchase incentives are not important in the consumer's decision to adopt a high-end BEV.