To Study the Impact of Socio Economic Issues on Consumer Preferences Related to Alternate Energy Transport

Abstract

The present research focuses on understanding the impact of socio-economic issues on consumer preferences related to Alternate Energy Transport (AET) with a focus on Electric Vehicle (EV). This study concentrates on Delhi, Gurugram and Faridabad. The researcher obtained 500 urban professionals in the age group of 20-60 from November 2016 to March 2018. A total of 465 responses were considered valid and have been included in the study, out of which 113 were from women (24%) and 352 were from men (76%). A focused group meeting of potential stakeholders of electric vehicles in Delhi-NCR with academicians, entrepreneurs, car making companies, and engineers was organized on 25th August 2018 at Cyber Hub in Gurugram by the scholar. newlineThe importance of purchase price, recharge options, recharging stations, availability of vehicle size and vehicle reliability has been discussed in detail. This study highlights how the consumers will react to the new technology-driven EV market once they are available for mass consumption. This study discusses in depth the role of Government of India and various state governments to encourage and motivate Indian automobile manufacturers through incentives, tax exemption or reduction and other modes to innovate and produce electric vehicles. This study discusses ecological concerns, marketing strategies, the resale value of batteries and EVs, and gender sensitivity, policy decisions, incentive support from the Government, Rand D, and all pertinent issues relating to EVs in India. Policy-makers, environmentalists and automobile companies, students, researchers will find answers to the questions they are seeking while getting ready for the era of responsible xxv energy usage. This study was intended to analyze the importance of socio-economic issues that a consumer will consider if he wants to shift to EVs. newline newline