Consumer Preferences for Electric Vehicle Charging Services: Evidence from NIO’s ‘Worry Free Plan’

Abstract

Range anxiety restrains the widespread adoption of plug-in electric vehicles. This paper utilises novel survey data on NIO ES8 owners in order to investigate whether preferences for innovative electric vehicle charging services (EVCS) are augmented by range anxiety. Our limited dependent variable models draw upon NIO ES8 owners’ revealed and stated preferences for the Worry Free Plan. Objective measures of range are found to feed into consumers’ stated preferences, whilst the owners’ subjective concerns appear to statistically dominate the consumers’ revealed preferences for this service. A suite of specification checks supports the view that EVCS primarily overcomes the psychological foundations of range anxiety, elucidating insights for the development of innovative and sustainable service-based business models and policy design.