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  • PURE Accepted Manuscript TFSC_EV Business model 0121

    Rights statement: This is the author’s version of a work that was accepted for publication in Technological Forecasting and Social Change. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Technological Forecasting and Social Change, 166, 2021 DOI: 10.1016/j.techfore.2021.120639

    Accepted author manuscript, 1.17 MB, PDF document

    Embargo ends: 6/08/22

    Available under license: CC BY-NC-ND: Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License

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Buy, lease, or share?: Consumer preferences for innovative business models in the market for electric vehicles

Research output: Contribution to journalJournal articlepeer-review

E-pub ahead of print
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Article number120639
<mark>Journal publication date</mark>31/05/2021
<mark>Journal</mark>Technological Forecasting and Social Change
Volume166
Number of pages18
Publication StatusE-pub ahead of print
Early online date6/02/21
<mark>Original language</mark>English

Abstract

Although business models are critical to the successful market penetration and diffusion of sustainable innovations, little is known about consumer preferences for adopting electric vehicles (EVs) under innovative business models. Drawing on existing conceptualisations of business models, we study consumers’ preferences for three innovative EV business models: (i) battery-leasing, (ii) EV-leasing, and (iii) Business-to-Customer (B2C) EV-sharing, in addition to the conventional EV-buying model. By conducting a nationwide stated preference (SP) experiment in China, we show that consumers perceive battery-leasing and EV-buying models to be close substitutes, while EV-leasing and EV-sharing models are perceived as independent. Important monetary attributes are the operational cost saving in the battery-leasing model and the leasing cost in the EV-leasing model. Critical service and policy attributes include home charging capability, vehicle licensing policy, and the density of battery-swapping stations for the battery-leasing model. We also find that female consumers, those who are well-educated, and those who have a pro-EV attitude are most likely to adopt EVs in innovative business models. Our work has significant value for companies and government in terms of better designing and supporting the innovative business models for EV adoption.

Bibliographic note

This is the author’s version of a work that was accepted for publication in Technological Forecasting and Social Change. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Technological Forecasting and Social Change, 166, 2021 DOI: 10.1016/j.techfore.2021.120639