IDEAS home Printed from https://ideas.repec.org/a/eee/eneeco/v134y2024ics0140988324003219.html
   My bibliography  Save this article

A win-win relationship? New evidence on artificial intelligence and new energy vehicles

Author

Listed:
  • Gu, Jianqiang
  • Wu, Zhan
  • Song, Yubing
  • Nicolescu, Ana-Cristina

Abstract

Investigating the vital role of artificial intelligence is essential to develop the electric vehicle market. This study utilises the wavelet-based QQR methodology to seize the dynamic correlation of artificial intelligence index (AII) and electric vehicle indicator (EVI). Based on quantitative deliberations, the favourable effects of AII on EVI at low-low and high-high quantiles and adverse impacts at high-low and low-high quantiles in the short run confirm the role of artificial intelligence in facilitating the electric vehicle market. However, the favourable effect of AII at medium to high quantiles on EVI at low quantiles refutes it because of the crowding-out effect. Conversely, the positive impact of EVI at medium to high quantiles on AII at low to medium quantiles ascertains the crowding-out effect of electric vehicles, while AII at medium to high quantiles cannot agree on it due to safety and convenience needs. In the mid-to-long term, the interactions of AII and EVI are gradually weakened, and speculative behaviours, crowding-out effects, and safety concerns drive the different cases. Therefore, a win-win situation between them does not always hold, and recommendations are being offered to enhance the significance of artificial intelligence in electric vehicles under the new round of scientific and technological revolution.

Suggested Citation

  • Gu, Jianqiang & Wu, Zhan & Song, Yubing & Nicolescu, Ana-Cristina, 2024. "A win-win relationship? New evidence on artificial intelligence and new energy vehicles," Energy Economics, Elsevier, vol. 134(C).
    • Handle: RePEc:eee:eneeco:v:134:y:2024:i:c:s0140988324003219
    DOI: 10.1016/j.eneco.2024.107613
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0140988324003219
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.eneco.2024.107613?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Basso, Rafael & Kulcsár, Balázs & Sanchez-Diaz, Ivan & Qu, Xiaobo, 2022. "Dynamic stochastic electric vehicle routing with safe reinforcement learning," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 157(C).
    2. Huang, Lei & Ladikas, Miltos & Schippl, Jens & He, Guangxi & Hahn, Julia, 2023. "Knowledge mapping of an artificial intelligence application scenario: A bibliometric analysis of the basic research of data-driven autonomous vehicles," Technology in Society, Elsevier, vol. 75(C).
    3. Gong, Xingyue & Jia, Guozhu, 2023. "Impactful messaging: Elite sentiment in Chinese new energy vehicle vs machine learning perspective," Finance Research Letters, Elsevier, vol. 57(C).
    4. Jiang, Zhangsheng & Xu, Chenghao, 2023. "Policy incentives, government subsidies, and technological innovation in new energy vehicle enterprises: Evidence from China," Energy Policy, Elsevier, vol. 177(C).
    5. Zhang, Qiyuan & Wallbridge, Christopher D. & Jones, Dylan M. & Morgan, Phillip L., 2024. "Public perception of autonomous vehicle capability determines judgment of blame and trust in road traffic accidents," Transportation Research Part A: Policy and Practice, Elsevier, vol. 179(C).
    6. Shang, Yunfeng & Yang, Qin & Pu, Yuanjie & Taghizadeh-Hesary, Farhad, 2024. "Employing artificial intelligence and enhancing resource efficiency to achieve carbon neutrality," Resources Policy, Elsevier, vol. 88(C).
    7. Zhang, Tong & Burke, Paul J. & Wang, Qi, 2024. "Effectiveness of electric vehicle subsidies in China: A three-dimensional panel study," Resource and Energy Economics, Elsevier, vol. 76(C).
    8. Li, Daitian & Malerba, Franco, 2024. "Technological change and the evolution of the links across sectoral systems: The case of mobile communications," Technovation, Elsevier, vol. 130(C).
    9. Shao, Jin & Hong, Jingke & Wang, Xianzhu & Yan, Xiaochen, 2023. "The relationship between social media sentiment and house prices in China: Evidence from text mining and wavelet analysis," Finance Research Letters, Elsevier, vol. 57(C).
    10. Burra, Lavan T. & Sommer, Stephan & Vance, Colin, 2024. "Free-ridership in subsidies for company- and private electric vehicles," Energy Economics, Elsevier, vol. 131(C).
    11. Ye, Yiming & Wang, Hanchen & Xu, Bin & Zhang, Jiangfeng, 2023. "An imitation learning-based energy management strategy for electric vehicles considering battery aging," Energy, Elsevier, vol. 283(C).
    12. Zhong, Yufei & Chen, Xuesheng & Wang, Zhixian & Lin, Regina Fang-Ying, 2024. "The nexus among artificial intelligence, supply chain and energy sustainability: A time-varying analysis," Energy Economics, Elsevier, vol. 132(C).
    13. Shahbaz, Muhammad & Zakaria, Muhammad & Shahzad, Syed Jawad Hussain & Mahalik, Mantu Kumar, 2018. "The energy consumption and economic growth nexus in top ten energy-consuming countries: Fresh evidence from using the quantile-on-quantile approach," Energy Economics, Elsevier, vol. 71(C), pages 282-301.
    14. Zhong, Zewei & Zeng, Yun & Zhao, Xiaoli & Zhang, Sufang, 2024. "The social benefits resulting from electric vehicle smart charging balancing economy and decarbonization," Transport Policy, Elsevier, vol. 147(C), pages 113-124.
    15. Su, Chi Wei & Song, Xin Yue & Qin, Meng & Lobonţ, Oana-Ramona, 2024. "Is copper a safe haven for oil?," Resources Policy, Elsevier, vol. 91(C).
    16. Qin, Meng & Zhu, Yujie & Xie, Xin & Shao, Xuefeng & Lobonţ, Oana-Ramona, 2024. "The impact of climate risk on technological progress under the fourth industrial era," Technological Forecasting and Social Change, Elsevier, vol. 202(C).
    17. Chen, Kaiming & Chen, Xiaoqian & Wang, Zhan-ao & Zvarych, Roman, 2024. "Does artificial intelligence promote common prosperity within enterprises? —Evidence from Chinese-listed companies in the service industry," Technological Forecasting and Social Change, Elsevier, vol. 200(C).
    18. Yu, Quanqing & Nie, Yuwei & Peng, Simin & Miao, Yifan & Zhai, Chengzhi & Zhang, Runfeng & Han, Jinsong & Zhao, Shuo & Pecht, Michael, 2023. "Evaluation of the safety standards system of power batteries for electric vehicles in China," Applied Energy, Elsevier, vol. 349(C).
    19. Su, Chi Wei & Shao, Xuefeng & Jia, Zhijie & Nepal, Rabindra & Umar, Muhammad & Qin, Meng, 2023. "The rise of green energy metal: Could lithium threaten the status of oil?," Energy Economics, Elsevier, vol. 121(C).
    20. Lee, Chien-Chiang & Yan, Jingyang & Wang, Fuhao, 2024. "Impact of population aging on food security in the context of artificial intelligence: Evidence from China," Technological Forecasting and Social Change, Elsevier, vol. 199(C).
    21. Qin, Meng & Zhang, Xiaojing & Li, Yameng & Badarcea, Roxana Maria, 2023. "Blockchain market and green finance: The enablers of carbon neutrality in China," Energy Economics, Elsevier, vol. 118(C).
    22. Li, Tianyu & Yue, Xiao-Guang & Qin, Meng & Norena-Chavez, Diego, 2024. "Towards Paris Climate Agreement goals: The essential role of green finance and green technology," Energy Economics, Elsevier, vol. 129(C).
    23. Li, Jingwen & Wang, Yue & Song, Yubing & Su, Chi Wei, 2023. "How resistant is gold to stress? New evidence from global supply chain," Resources Policy, Elsevier, vol. 85(PB).
    24. Shen, Yung-Shuen & Huang, Guan-Ting & Chang-Chien, Chien-Li & Huang, Lance Hongwei & Kuo, Chien-Hung & Hu, Allen H., 2023. "The impact of passenger electric vehicles on carbon reduction and environmental impact under the 2050 net zero policy in Taiwan," Energy Policy, Elsevier, vol. 183(C).
    25. Wong, Stephen D. PhD & Shaheen, Susan A. PhD & Martin, Elliot PhD & Uyeki, Robert, 2023. "Do Incentives Make a Difference? Understanding Smart Charging Program Adoption for Electric Vehicles," Institute of Transportation Studies, Research Reports, Working Papers, Proceedings qt98z4b5rr, Institute of Transportation Studies, UC Berkeley.
    26. Gao, Jiong & Ma, Shoufeng & Zou, Hongyang & Du, Huibin, 2023. "How does population agglomeration influence the adoption of new energy vehicles? Evidence from 290 cities in China," Technological Forecasting and Social Change, Elsevier, vol. 196(C).
    27. Qin, Meng & Hu, Wei & Qi, Xinzhou & Chang, Tsangyao, 2024. "Do the benefits outweigh the disadvantages? Exploring the role of artificial intelligence in renewable energy," Energy Economics, Elsevier, vol. 131(C).
    28. Shahzad, Syed Jawad Hussain & Shahbaz, Muhammad & Ferrer, Román & Kumar, Ronald Ravinesh, 2017. "Tourism-led growth hypothesis in the top ten tourist destinations: New evidence using the quantile-on-quantile approach," Tourism Management, Elsevier, vol. 60(C), pages 223-232.
    29. Qin, Meng & Su, Chi-Wei & Umar, Muhammad & Lobonţ, Oana-Ramona & Manta, Alina Georgiana, 2023. "Are climate and geopolitics the challenges to sustainable development? Novel evidence from the global supply chain," Economic Analysis and Policy, Elsevier, vol. 77(C), pages 748-763.
    30. Rico Lee-Ting Cho & John S. Liu & Mei Hsiu-Ching Ho, 2021. "The development of autonomous driving technology: perspectives from patent citation analysis," Transport Reviews, Taylor & Francis Journals, vol. 41(5), pages 685-711, September.
    31. Koenker, Roger W & Bassett, Gilbert, Jr, 1978. "Regression Quantiles," Econometrica, Econometric Society, vol. 46(1), pages 33-50, January.
    32. Wang, Yufei & Liao, Zhongju, 2023. "Functional industrial policy mechanism under natural resource conflict: A case study on the Chinese new energy vehicle industry," Resources Policy, Elsevier, vol. 81(C).
    33. Samuel Kwaku Agyei & Ahmed Bossman & Emmanuel Asafo−Adjei & Oliver Asiamah & Vincent Adela & Cornelius Adorm−Takyi & Li Li, 2022. "Exchange Rate, COVID-19, and Stock Returns in Africa: Insights from Time-Frequency Domain," Discrete Dynamics in Nature and Society, Hindawi, vol. 2022, pages 1-20, August.
    34. Gandoman, Foad H. & Jaguemont, Joris & Goutam, Shovon & Gopalakrishnan, Rahul & Firouz, Yousef & Kalogiannis, Theodoros & Omar, Noshin & Van Mierlo, Joeri, 2019. "Concept of reliability and safety assessment of lithium-ion batteries in electric vehicles: Basics, progress, and challenges," Applied Energy, Elsevier, vol. 251(C), pages 1-1.
    35. Qin, Meng & Mirza, Nawazish & Su, Chi-Wei & Umar, Muhammad, 2023. "Exploring Bubbles in the Digital Economy: The Case of China," Global Finance Journal, Elsevier, vol. 57(C).
    36. Yan, Xu & Huang, Minyi, 2022. "Leveraging university research within the context of open innovation: The case of Huawei," Telecommunications Policy, Elsevier, vol. 46(2).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Wu, Jiawen & Li, Jing-Ping & Su, Chi-Wei, 2024. "Can green bond hedges climate policy uncertainty in the United States: New insights from novel time-varying causality and quantile-on-quantile methods?," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 1158-1176.
    2. Li, Tianyu & Yue, Xiao-Guang & Qin, Meng & Norena-Chavez, Diego, 2024. "Towards Paris Climate Agreement goals: The essential role of green finance and green technology," Energy Economics, Elsevier, vol. 129(C).
    3. Zhao, Qian & Wang, Lu & Stan, Sebastian-Emanuel & Mirza, Nawazish, 2024. "Can artificial intelligence help accelerate the transition to renewable energy?," Energy Economics, Elsevier, vol. 134(C).
    4. Yang, Shengyao & Zhu, Meng Nan & Yu, Haiyan, 2024. "Are artificial intelligence and blockchain the key to unlocking the box of clean energy?," Energy Economics, Elsevier, vol. 134(C).
    5. Kong, Fanna & Gao, Zhuoqiong & Oprean-Stan, Camelia, 2023. "Green bond in China: An effective hedge against global supply chain pressure?," Energy Economics, Elsevier, vol. 128(C).
    6. Lee, Chi-Chuan & Li, Yong-Yi, 2024. "Does environmental policy matter for renewable energy production and economic activity? Evidence from Granger causality in quantiles," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 225-237.
    7. Zhang, Xiuqi & Meng, Xiangyu & Su, Chi Wei, 2024. "The security of energy import: Do economic policy uncertainty and geopolitical risk really matter?," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 377-388.
    8. Qin, Meng & Hu, Wei & Qi, Xinzhou & Chang, Tsangyao, 2024. "Do the benefits outweigh the disadvantages? Exploring the role of artificial intelligence in renewable energy," Energy Economics, Elsevier, vol. 131(C).
    9. Cao, Fangzhi & Su, Chi-Wei & Sun, Dian & Qin, Meng & Umar, Muhammad, 2024. "U.S. monetary policy: The pushing hands of crude oil price?," Energy Economics, Elsevier, vol. 134(C).
    10. Lianhong QIU & Haidan SU & Chi-Wei SU & Meng QIN, 2024. "The Essential Role of Big Data: Could it Effectively Mitigate Non-Performing Loans?," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 140-160, October.
    11. Liu, Fangying & Su, Chi Wei & Tao, Ran & Umar, Muhammad, 2023. "The instability of U.S. economic policy: A hindrance or a stimulus to green financing?," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 33-46.
    12. Liao, Feimei & Hu, Yaoyao & Chen, Mengjie & Xu, Shulin, 2024. "Digital transformation and corporate green supply chain efficiency: Evidence from China," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 195-207.
    13. Qin, Meng & Su, Chi-Wei & Umar, Muhammad & Lobonţ, Oana-Ramona & Manta, Alina Georgiana, 2023. "Are climate and geopolitics the challenges to sustainable development? Novel evidence from the global supply chain," Economic Analysis and Policy, Elsevier, vol. 77(C), pages 748-763.
    14. Zhong, Yufei & Chen, Xuesheng & Wang, Zhixian & Lin, Regina Fang-Ying, 2024. "The nexus among artificial intelligence, supply chain and energy sustainability: A time-varying analysis," Energy Economics, Elsevier, vol. 132(C).
    15. Iqbal, Najaf & Fareed, Zeeshan & Wan, Guangcai & Shahzad, Farrukh, 2021. "Asymmetric nexus between COVID-19 outbreak in the world and cryptocurrency market," International Review of Financial Analysis, Elsevier, vol. 73(C).
    16. Chen, Hao & Xu, Chao, 2022. "The impact of cryptocurrencies on China's carbon price variation during COVID-19: A quantile perspective," Technological Forecasting and Social Change, Elsevier, vol. 183(C).
    17. George S. Atsalakis & Elie Bouri & Fotios Pasiouras, 2021. "Natural disasters and economic growth: a quantile on quantile approach," Annals of Operations Research, Springer, vol. 306(1), pages 83-109, November.
    18. Sarantis Lolos & Panagiotis Palaios & Evangelia Papapetrou, 2023. "Tourism-led growth asymmetries in Greece: evidence from quantile regression analysis," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 22(1), pages 125-148, January.
    19. Hou, Xiang & Hu, Qianlin & Liang, Xin & Xu, Jingxuan, 2023. "How do low-carbon city pilots affect carbon emissions? Staggered difference in difference evidence from Chinese firms," Economic Analysis and Policy, Elsevier, vol. 79(C), pages 664-686.
    20. Sun, Ji-Le & Tao, Ran & Wang, Jiao & Wang, Yi-Fei & Li, Jia-Yi, 2024. "Do farmers always choose agricultural insurance against climate change risks?," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 617-628.

    More about this item

    Keywords

    Artificial intelligence; Electric vehicles; Win-win relationship; Dynamic;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • Q21 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Demand and Supply; Prices
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:eneeco:v:134:y:2024:i:c:s0140988324003219. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/eneco .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.