Factors Influencing Electric Vehicle Purchase Intention in Indonesia: Ownership Cost, Fiscal Incentives, and Credit Accessibility

Electric vehicle (EV) adoption in Indonesia continues to face affordability challenges despite growing policy support. This study investigates EV Purchase Intention by integrating behavioral, economic, policy, and financing perspectives. The model examines Attitude, Subjective Norm, Perceived Behavioral Control, Fiscal Incentives, and Ownership Cost as explanatory variables, with Credit Accessibility tested as a moderator of the relationship between Ownership Cost and EV Purchase Intention. Data from 270 potential EV consumers in the JABODETABEK area were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results show that Ownership Cost has a significant positive association with EV Purchase Intention (β = 0.415, p = 0.001). Meanwhile, Attitude, Subjective Norm, Perceived Behavioral Control, Fiscal Incentives, and Credit Accessibility have no significant direct associations. Credit Accessibility also does not significantly moderate the relationship between Ownership Cost and EV Purchase Intention (β = -0.012, p = 0.822). These findings indicate that respondents’ coded perceptions of ownership-related economic considerations were positively associated with EV Purchase Intention in the present sample. The study provides implications for understanding EV ownership costs, financing schemes, and policy development in Indonesia.