Electric Vehicles: Tracing the Evolution from Past to Present and Charting Future Frontiers

Electric Vehicles: Tracing the Evolution from Past to Present and Charting Future Frontiers

Anshit Sharma, Sheetal Shalini

Guide: Mrs. Anjali Sharma

MASTER OF BUSINESS ADMINISTRATION

Mittal School of Business (MSOB)

LOVELY PROFESSIONAL UNIVERSITY

PHAGWARA, PUNJAB

ABSTRACT

 Electric vehicles (EVs) were recently reintroduced to the global car market. These are an improvement over their predecessors in performance and electric driving range. Although the uptake of EVs has been notable in a short period of time, most government goals for adoption have not been met. This paper reviews a growing body of peer-reviewed literature assessing factors affecting EV adoption. Several important gaps in knowledge are identified. First, there is mixed evidence of the effectiveness of government incentives in encouraging EV uptake and particularly little knowledge in regards to issues of timing and magnitude. The literature shows that public charging infrastructure is an important factor associated with EV uptake, though the direction of causality is yet unclear. Public charging infrastructure can ease range anxiety, particularly for battery electric vehicles, but there is little guidance as to the way in which government should best go about ensuring the provision of infrastructure. Lastly, the nascent EV market means that studies primarily rely on surveys about hypothetical situations. There is strong evidence that actual purchases are much lower than consumers’ stated preferences. Improving understanding of this “attitude–action” gap is important to better informing studies of EV uptake over time.