Impact of Government Policies and Incentives on Consumer Preferences for Electric Vehicles in India

Abstract

This study delves into how government policies and incentives influence consumer preferences for electric vehicles (EVs) in India amid the global shift towards electric powertrains. It examines subsidies, tax benefits, and infrastructure investments' impact on consumer awareness, perceptions, and purchasing decisions regarding EVs. Key motivators for adoption include financial incentives, environmental benefits, and sustainable mobility trends. Conversely, barriers such as high initial costs, range anxiety, inadequate infrastructure, and technology trust issues hinder adoption. Effective dissemination of information is crucial for increasing adoption rates. The perceived value of incentives varies across consumer segments based on factors like socioeconomic status and prior exposure to EV technology. Infrastructure development, notably charging station accessibility, is vital for electric mobility. To accelerate EV adoption, policymakers must combine financial incentives with robust infrastructure and targeted consumer education. Aligning government efforts with consumer preferences can reduce emissions, decrease fossil fuel dependence, and promote sustainable transportation.