EXPLORING DRIVERS OF ELECTRIC VEHICLE PERCEIVED VALUE: A COMPARATIVE STUDY OF PAKISTAN AND LITHUANIA

Abstract

The global transition toward electric vehicles (EVs) is central to sustainability strategies, yet consumer adoption remains uneven across countries, suggesting that technological progress and policy incentives alone insufficiently explain adoption behavior. This study investigates how functional, psychological, environmental, and symbolic value dimensions shape consumer perceived value of electric vehicles, and examines whether these relationships differ between Pakistan and Lithuania as culturally and economically distinct markets. For this purpose, this study adopts a quantitative cross-sectional survey and it was conducted with 218 respondents (120 from Pakistan, 98 from Lithuania). Drawing on the Theory of Consumption Values, the study measured battery life and cost concerns, range anxiety, battery recycling awareness, and symbolic value as determinants of EV perceived value. Data were analyzed using descriptive statistics, correlation analysis, multiple regression, and moderation analysis in SPSS. The findings of this study reveal that battery life and cost concerns (β = -0.32, p < 0.01) and range anxiety (β = -0.28, p < 0.01) significantly negatively influenced perceived value, with stronger effects observed in Pakistan. Battery recycling awareness (β = 0.24, p < 0.01) and symbolic value (β = 0.41, p < 0.01) positively influenced perceived value, with stronger effects in Lithuania. National context significantly moderated these relationships, confirming that value formation is context-dependent. This study advances EV adoption research by reframing adoption barriers as negative value dimensions within a unified value-based framework, and by demonstrating that perceived value is not universal but culturally and economically constructed. The findings provide actionable guidance for policymakers and marketers to design context-sensitive strategies for accelerating EV adoption in diverse markets.