With the goal of mitigating energy consumption and environmental pollution, governments globally actively promote the widespread adoption of electric vehicles (EVs). Although the sales of electric vehicles (EVs) are rapidly increasing, in reality, the purchasing intention among most ordinary consumers appears to be not high for EVs. To maintain the rapid development trend of electric vehicles and to spark interest in ordinary consumers for purchasing EVs, it is crucial to enable potential consumers to perceive the benefits of electric vehicles, that is, their product characteristics, more than other modes of transportation. This study examines the interplay between the reasons driving consumer choices of electric vehicles, the level of policy support, and their impact on consumer perceived value and purchase intention. By integrating the product characteristics of electric vehicles, consumer perceptions, and policy support, this research was conducted in both South Korea and China, collecting and utilizing 362 valid data points for empirical analysis. The findings indicate a positive influence of product characteristics on consumer perceived value, revealing a direct correlation between consumer perceived value and the purchase intention of electric vehicles. Moreover, the confirmed regulatory effect of policy support on consumer perceived value and purchase intention enhances our understanding. This study, exploring the correlation between consumer perceived value and purchase intention, offers valuable recommendations for shaping future marketing and promotional strategies for businesses and governments alike.