What Increases Consumers’ Purchase Intention of Battery Electric Vehicles from Chinese Electric Vehicle Start-Ups? Taking NIO as an Example

As environmental and energy issues are becoming more and more serious, China has seen the birth of a number of electric vehicle start-ups (EVSUs). Although there has been a dozen or so studies about consumers’ purchase intention of battery electric vehicles, few of them were about electric vehicle start-ups. Therefore, it is necessary to explore the factors that influence consumers’ purchase intention of electric vehicles from Chinese electric vehicle start-ups (CEVSUs). This study establishes a theoretical model of the factors that influence consumers’ purchase intentions of electric vehicles from CEVSUs through brand identity, brand image, brand awareness, and perceived risk. The analysis results of 332 valid questionnaires show that the factors that affect consumers’ purchase intention of electric vehicles from CEVSUs include brand identity, brand image, and perceived risk. Brand image will be affected by brand recognition, brand awareness, and perceived risk. The perceived risk will be affected by brand awareness and brand identity. Brand awareness will be affected by brand identity, but brand awareness will not directly affect purchase decisions. The conclusions of this study can be used as a reference for the government, consumers, or practitioners in the electric vehicle industry to promote the sales of electric vehicles to achieve low-carbon transportation, and also to help Chinese start up brands to take a larger share of the domestic market.