Risk Perception in Electrice Vehicle Purchases and Its Influence on the Purchasing Decision-Making Process

Zhu Min; Abu Bakar Abdul Hamid; Elkhansa Medjedel; Siti Norida Wahab

doi:10.62051/ijsspa.v9n1.32

Authors

Zhu Min
Abu Bakar Abdul Hamid
Elkhansa Medjedel
Siti Norida Wahab

DOI:

https://doi.org/10.62051/ijsspa.v9n1.32

Keywords:

Electric Vehicles, Perceived Risk, Consumer Behavior, Purchase Decision

Abstract

Amid the global energy crisis and carbon reduction goals, electric vehicles(EVs) have emerged as a key pathway for sustainable mobility. This study, based on perceived risk theory, constructs a perceived risk–purchase decision process's to examine how functional, financial, safety, time, social and psychological risks affect EV purchase intention. Using survey and empirical analysis, results show that functional, financial, and time risks significantly reduce purchase intention, with functional and financial risks being the most critical. Safety risk affects evaluation stages but has limited impact on final decisions, while social and psychological risks are not significant. Electric vehicle consumers place greater emphasis on practicality and are more sensitive to time risks. Findings suggest that firms should improve product performance and reduce costs, governments should enhance infrastructure and policies, and consumers should make rational purchase assessments.

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