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All Journal International Journal of Accounting & Finance in Asia Pasific
Sin, Dr. Liem Gai
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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EV Markets: A Comparative Analysis between India, Nigeria, and Indonesia Shree, Vandana; Edeh, Dr. Friday Ogbu; Sin, Dr. Liem Gai; Pandey, Dr. Rudresh; Tiwari, Swarn; Onukele, Amarachi; Gupta, Himanshu Kumar; K A, Farzan; Tiwari, Ganesh; Triana, Andra Aprillia Ayu; Alzahri, MHD. Daffa
International Journal of Accounting & Finance in Asia Pasific (IJAFAP) Vol 7, No 1 (2024): FEBRUARY EDITION INTERNATIONAL JOURNAL OF ACCOUNTING FINANCE IN ASIA PASIFIC
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/ijafap.v7i1.2899

Abstract

In this study, we present a nuanced comparative evaluation of the Electric Vehicle (EV) landscapes in India, Nigeria, and Indonesia — three emerging economies with divergent socio economic and infrastructural profiles. Our objective is to explain the multifaceted determinants underpinning EV adoption and growth within these nations. India, showcasing a more mature EV ecosystem, has witnessed accelerated growth propelled by encouraging governmental strategies, fiscal incentives, and an evolving charging framework. In contrast, Nigeria's embryonic EV sector grapples with infrastructural impediments and fiscal challenges. Indonesia has abundant natural resources, but demand for electric vehicles in Indonesia is still low so the infrastructure for vehicle charging stations is still in the development stage. Through an indepth scrutiny of consumer predilections, acquisition impediments, and state led initiatives, we delineate the idiosyncratic challenges and prospects inherent to each milieu. Our exploration further delves into the cultural, economic, and policy driven catalysts sculpting the EV milieu in these territories. The insights gleaned from this investigation serve as a pivotal reference for policymakers, industry aficionados, and financial proponents aiming to decode the intricate dynamics of the EV market within these variegated settings. Furthermore, the comparative paradigm employed augments the overarching comprehension of global EV assimilation patterns.
Electric Vehicle (EV) Markets: A Comparative Analysis Between India, Nigeria, and Indonesia Shree, Vandana; Edeh, Dr. Friday Ogbu; Sin, Dr. Liem Gai; Pandey, Dr. Rudresh; Tiwari, Swarn; Onukele, Amarachi; Gupta, Himanshu Kumar; K A, Farzan; Tiwari, Ganesh; Triana, Andra Aprillia Ayu; Alzahri, MHD. Daffa
International Journal of Accounting and Finance in Asia Pasific (IJAFAP) Vol 7, No 1 (2024): February 2024
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/ijafap.v7i1.2899

Abstract

This study aims to provide a comparative analysis of the electric vehicle (EV) markets in India, Indonesia, and Nigeria. The analysis will encompass various aspects of the EV market, including government regulations, charging infrastructure, consumer behavior, and market penetration. The objective is to identify the primary drivers and impediments to EV adoption in these nations.  The research employed a mixed-method approach, utilizing both primary and secondary data collection methods. The analysis reveals that economic factors, particularly satisfaction with EVs, significantly impact adoption, with India exhibiting higher average satisfaction than Indonesia and Nigeria. A positive correlation between satisfaction ratings in India and Indonesia suggests commonalities in consumer preferences, although data limitations hinder conclusive insights. Notably, India's policy framework emerges as more conducive to EV adoption, with a statistically significant positive impact. The study implies that economic factors, especially satisfaction, contribute significantly to India's lead in EV adoption, highlighting the crucial role of the policy framework.
Co-Authors Alzahri, MHD. Daffa Edeh, Dr. Friday Ogbu Gupta, Himanshu Kumar K A, Farzan Onukele, Amarachi Pandey, Dr. Rudresh Shree, Vandana Tiwari, Ganesh Tiwari, Swarn Triana, Andra Aprillia Ayu