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The adoption of electric vehicles has been promoted as a possible environmentally friendly solution in the field of transport. However, uptake is uneven across European countries. The impact of factors influencing the adoption of electric vehicles has been highlighted in recent literature. Nevertheless, this literature has scarcely considered willingness to pay, the risks associated with the purchase, and the moderating variables in consumers' purchase intention. This research addresses this gap and aims to analyze these factors. To this end, these variables are incorporated into a model based on the theory of planned behavior (TPB) and the norm activation model (NAM). The model estimation was developed through the data collected from a questionnaire given to regular drivers in Spain (n = 1241) and analyzed using partial least squares structural equation modelling (PLS-SEM). The results indicate that awareness of environmental issues and consequences of one's actions, along with social pressure, activate the individual personal norm, channeling these effects towards intention, and with greater intensity towards willingness to pay. In addition, the influence of performance and financial risks was confirmed, albeit with a lower impact than expected on purchase intention. The analysis also reveals significant moderating effects, with variations observed based on age, income, primary vehicle use, and prior experience with electric or hybrid vehicles.
Cabeza‐Ramírez et al. (Sat,) studied this question.