Evaluating the Intention-Behavior Gap and Asset Risk Barriers in Mumbai’s Electric Vehicle Market

Mayuresh Milind Joshi; Prithvi Jabar Bhandare

Evaluating the Intention-Behavior Gap and Asset Risk Barriers in Mumbai’s Electric Vehicle Market

Author(s)	Dr. Mayuresh Milind Joshi, Ms. Prithvi Jabar Bhandare
Country	India
Abstract	The global shift toward sustainable transportation has positioned electric vehicles (EVs) as a cornerstone of urban decarbonization strategies; however, the transition remains uneven in emerging economies characterized by high-density urbanism. Despite ambitious national targets to achieve 30% EV penetration by 2030, India's current adoption rate stands at 7.66%, with the personal car sector showing significant stagnation. The current research work investigates the Intention-Behaviour Gap within MMR, where intersection of high real-estate costs, vertical living constraints, and opaque secondary markets creates unique barriers to adoption. Utilizing a cross-sectional survey of 300 residents, the research employs Principal Component Analysis (PCA), K-Means Clustering, and Ordinary Least Squares (OLS) Regression to isolate psychological, financial, and structural determinants of EV acceptance. Findings uncover a "Green Marketing Fallacy" wherein though environmental concern is observed to be high (7.780/10), it lacks statistical significance (p=0.564) in predicting willingness to pay a premium. Instead, adoption intent is strictly governed by utilitarian economics such as range requirements (p=0.024) and home-charging access (p=0.036). Market segmentation reveals three distinct clusters which include Transition-Ready Enthusiasts (39.3%), Anxious Aspirants (30.0%), and Indifferent participants (30.67%). The study concludes that the Aspirant represents the primary bottleneck, ideologically supportive but physically hindered by infrastructure and Asset Risk Aversion. Comparative analysis reveals a Reality Gap, where current owners report 2.21-point higher confidence than non-owners, suggesting barriers are largely perceptual. The study recommends a strategic pivot toward financial de-risking, including Right to Charge mandates for housing societies and standardized battery health certifications to stabilize the secondary market.
Keywords	EV, Intention-Behavior Gap, Mumbai MMR, Green Market Fallacy
Published In	Volume 8, Issue 3, May-June 2026
Published On	2026-05-11

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Evaluating the Intention-Behavior Gap and Asset Risk Barriers in Mumbai’s Electric Vehicle Market

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