Abstract
This study aims to determine the influential factors on the market share of electric vehicles through panel data analysis based on time series data from 2011 to 2015 in 31 countries. We selected five significant independent variables that are expected to affect electric vehicle adoption based on literature review. The econometric model in this study suggests that the relative price of electric vehicle compared to internal combustion engine vehicle, driving range, and number of models available in markets are correlated to the market share of electric vehicles. On the other hand, relationship between recharging infrastructure-an important factor for electric vehicle adoption in many studies-and market share of electric vehicles turned out to be insignificant in this study. From a political point of view, we argue that policy makers need to allocate more resources to research and development in order to extend driving range at the early stage of electric vehicle deployment in the markets.
| Original language | English |
|---|---|
| Article number | 1783 |
| Journal | Sustainability (Switzerland) |
| Volume | 9 |
| Issue number | 10 |
| DOIs | |
| Publication status | Published - 2017 Oct 1 |
Bibliographical note
Funding Information:Acknowledgments: This work was supported by under the framework of international cooperation program managed by National Research Foundation of Korea (NRF-2016K2A9A2A11938449).
Publisher Copyright:
© 2017 by the authors.
Keywords
- Battery performance
- Driving range
- Eco-innovation
- Electric vehicle adoption
- Environmental policy
- Panel data analysis
ASJC Scopus subject areas
- Computer Science (miscellaneous)
- Environmental Science (miscellaneous)
- Geography, Planning and Development
- Energy Engineering and Power Technology
- Hardware and Architecture
- Management, Monitoring, Policy and Law
- Computer Networks and Communications
- Renewable Energy, Sustainability and the Environment
