Factors Affecting Consumers’ Preference for Private Electric Vehicles in Bangladesh: Policy Implications for Adoption

In order to reduce emissions from the transport sector, the government of Bangladesh aims to accelerate the pace of electric vehicles (EVs) adoption. However, research on consumer perceptions of EVs in the country is limited. This study examined the factors that encourage or discourage consumers from adopting private EVs. A pre-tested structured questionnaire was distributed across the country employing purposive sampling, and 427 responses were obtained. Descriptive statistics were computed, and binary regressions were performed to understand the relationship between respondents' characteristics, factors, and adoption of EVs. For more than 80% of respondents, EVs are energy efficient, environmentally friendly, reduce the usage of fossil fuels, stylish, and elegant. About 90% of respondents cited several discouraging factors, including a lack of sufficient service stations and mechanics, a limited driving range, a higher purchase price, and a low resale value. Approximately 60% of respondents are inclined to buy an EV as their next car. Nevertheless, the probability of them embracing an EV was significantly associated with a higher income and a more comprehensive understanding of EVs. These findings could potentially support pertinent authorities in their efforts to accelerate the adoption of EVs. To be more precise, authorities give precedence to the encouragement of EVs purchase through the provision of incentives such as road tax and registration fee reductions. Furthermore, it is essential that authorities allocate resources towards the development of EV-friendly infrastructure, including charging and service stations, while concurrently augmenting public consciousness and understanding of EVs.