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Adoption Of Electric Vehicles In Malaysia €” Consumer Preferences And Cost-Benefit Considerations

Author

Listed:
  • SANTHA CHENAYAH

    (Department of Economics, Faculty of Business and Economics, Universiti Malaya, 50603 Kuala Lumpur, Malaysia)

  • EVELYN S. DEVADASON

    (Department of Economics, Faculty of Business and Economics, Universiti Malaya, 50603 Kuala Lumpur, Malaysia)

  • LIM THYE GOH

    (Department of Economics, Faculty of Business and Economics, Universiti Malaya, 50603 Kuala Lumpur, Malaysia)

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.

Suggested Citation

  • Santha Chenayah & Evelyn S. Devadason & Lim Thye Goh, 2024. "Adoption Of Electric Vehicles In Malaysia €” Consumer Preferences And Cost-Benefit Considerations," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 69(04), pages 1395-1414, June.
    • Handle: RePEc:wsi:serxxx:v:69:y:2024:i:04:n:s021759082445005x
    DOI: 10.1142/S021759082445005X
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    More about this item

    Keywords

    Electric vehicle; hybrid vehicle; purchaser behavior; cost-benefit analysis; sustainability;
    All these keywords.

    JEL classification:

    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation
    • D10 - Microeconomics - - Household Behavior - - - General
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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