Selection factors for behavioral intention regarding electric vehicles in Norway

Master's thesis in EconomicsNorway has acted as a laboratory for electric vehicles. It has taken a leading role in the introduction of electric vehicles and the development of a sustainable electric vehicle market. According to a recent report from the Norwegian Electric Vehicles Association (NEVA), electric vehicles in Norway have enjoyed increasing sales of almost one-third per year. Given this staggering rise, the purpose of this study is to identify the variables that impact people’s intent on electric vehicle adoption in Norway. An online survey is conducted to determine the selection factors for the behavioral intentions of 280 individuals towards electric vehicles in Norway. Applying multiple regression analysis, the study finds that environmental concern, subjective norms, reception of economic benefits, and overall perception of electric vehicles have a statistically significant influence on people’s behavioral intention to buy an electric vehicle. The regression analysis concludes that the direct effect of the reception of economic benefit (β = 0.309) is more significant than the direct effect of subjective norms (β = 0.291) and the perception of electric vehicles (β = 0.241). Our findings provide a better understanding of Norwegian consumers’ motivations in buying electric vehicles and should guide the government, electric vehicle manufacturers, and investors in Norway to better marketing and incentivization decisions