INVITED PAPER: ADOPTION OF ELECTRIC VEHICLES IN MALAYSIA - CONSUMER PREFERENCES AND COST-BENEFIT CONSIDERATIONS
Document Type
Article
Publication Date
6-1-2024
Abstract
The electric vehicles (EVs) market in Malaysia, though growing remains relatively small. Previous related studies on Malaysia focused mainly on consumer preferences and the country's readiness towards a higher adoption of environmentally friendly alternative vehicles. This study extends previous work to examine consumer preferences towards EVs through a market survey conducted in Klang Valley. Then follows a comparative economic and environmental cost-benefit analysis of EVs relative to conventional vehicles and hybrid vehicles to provide some understanding on the market diffusion of the former. The key findings from the survey suggest that pricing and the maintenance costs of EVs negatively influence the uptake of EVs despite the positive environmental attitudes of consumers. The cost-benefit analysis, in turn, implies that the EV transition will accelerate with rising petrol prices and falling battery costs. The study concludes with some implications for sustainability based on the adoption of EVs.
Keywords
Electric vehicle, hybrid vehicle, purchaser behavior, cost-benefit analysis, sustainability
Divisions
Faculty_of_Business_and_Accountancy
Funders
Universiti Malaya Impact-Oriented Interdisciplinary Research Grant (IIRG) (IIRG007D-19IISS)
Publication Title
Singapore Economic Review
Volume
69
Issue
04
Publisher
World Scientific Publishing
Publisher Location
5 TOH TUCK LINK, SINGAPORE 596224, SINGAPORE