Impact of Electric Vehicles

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BRM ASSIGNMENT 3

   NAME : PRITHVI MOHAN DWARAPUREDDY

     STUDENT ID : 19433653

     PROFFESSOR : DR. CHARLES WANG

ABSTRACT

The main intention is to recognize how the car users are aware of vehicle quality and its features which shows impact on their intention to purchase electric vehicles rather than fuel cars. The information collected is from the survey which is conducted in online in the country UK. It is discovered that the influential quality features are more important as they show huge impact and are related to the other quality features obtained from electric vehicles, this includes comfort and satisfaction of driving which is hedonic quality and the recognition obtained by purchasing and utilizing electric vehicles which is a symbolic quality. The people who are having concern towards the environment and feel proud by elevating their personality by showing concern towards the environment are willing to purchase and utilize electric vehicles. The recognition of electric vehicle quality features are incapacitated by the authorities.

INTRODUCTION:

The change in climatic conditions all over the globe made the automotive sector to introduce electric vehicles in order to decrease the carbon monoxide emissions, which is higher in the fuel cars. The innovation of electric vehicles is not new as the invention of electric vehicles has started much earlier as the oil was cheap the combustion vehicles were mostly preferred. As compared to the past years the increase in sales of Electric vehicles have increased thoroughly. The main reason is the change in people mindset as they are being concerned about the climate change and are willing to buy hybrid cars as they do not have emission at all. The increase in sales of electric vehicles depends on the recognition of the consumers. The people often seems to be doubtful whenever there is a new technology in the market as they don’t have proper knowledge towards the new technology and for decades they are using different technology and they are accustomed to that technology, it seems to be same issue with the introduction of electric vehicles. So, it is necessary to know which features influence the consumers to purchase electric vehicles. In this essay we discuss about how the recognition of hedonic, instrumental and symbolic features shows impact on consumers to choose electric vehicles. It has also been surveyed about how individuality shows impact on features which make consumers to focus on while purchasing electric vehicles. There is a need to inspect about the features of different types of electric vehicles and how these features are recognized if the electric vehicles are believed to be as a main car for utilization by a consumer.

IMPACT OF ELECTRIC VEHICLES:

As mentioned earlier the electric vehicles are not recent invention (Geertje, Anable, Skippon, Kinnear, 2013). The cars that run by batteries are invented much earlier but cost of making is high due to limited network and technology, at the same time there is lot of availability of fossil fuels which is used as a fuel for cars that run by internal combustion. So, the fuel cars are mostly preferred by the people till the present day but due to huge amount of utility of fuel cars and other vehicles there is change in climatic conditions which is getting polluted day by day due to emission of carbon monoxide from the fuel cars, this made people to be concerned about the climate and started to use electric vehicles. Therefore there is increase in usage of electric vehicles as the governments of several nations are making people aware of the climatic conditions and taking several measures to utilize electric vehicles. These days the cars used as taxis in several nations are of electric and hybrid. The electric cars are of different types they are Battery Electric vehicle which utilizes power from battery and it can be recharged. Plug in hybrid electric vehicle which have larger capacity of storage of power and it can be recharged by itself by acceleration. These are all considered together as Electric vehicles 

(Rezvani, Zeinab, Jansson, Bodin, 2015).

LITERATURE REVIEW

Recognized hedonic, symbolic and instrumental features that helped to choose electric vehicles:

It can be stated that people preferring electric vehicles is an individual initiative taken by the people by themselves in regard to environmental effects (Geertje, Anable, Skippon, Kinnear, 2013). In this essay we are going to discuss about the main intention to choose electric vehicles and what led people to choose electric vehicles. In order to choose latest and advanced technologies people often show their interest in purchasing new products as soon as the products come into the market even some of the consumers will be checking for advanced sales of the product i.e. they pre book the required products (Wang, Shanyong, Fan, Zhao, Yang, Yuanguang, 2016). The main enthusiasm aspects of consumers are described as hedonic, instrumental and symbolic, it is assumed that most of the consumers tend to opt new technology based on instrumental features which are functional and feasible features. The hedonic approach of consumers is based on the experience which can be obtained from the new technology i.e. the consumers feel pleasure and delighted by using new technology. The symbolic approach by the consumers is they choose electric vehicles due to their symbolic features which shows impact on their social identity. Usually the intention to purchase cars by the consumers rely on the hedonic, instrumental and symbolic features. Among these three aspects the consumers mostly rely on instrumental features which are on-road price, performance, reliability and time taken to recharge. But, at the same time symbolic and hedonic features made consumers to opt electric vehicles by establishing the consumer’s personality in the society by making difference with the others (Voss, Kevin, Spangenberg, Grohmann, 2003).