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Assessment of impacts of critical mineral resources on sustainable transport sector

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  • Du, Ruoyao

Abstract

The sustainability of the transportation sector, particularly through the growth of the EV market, has become a critical issue for mineral-rich economies due to the role of key minerals like lithium in EV batteries. This study assesses how expanding lithium production affects the EV market in the top 10 EV markets from 2010 to 2022. Results show a 1% increase in lithium production is linked to a 0.58% rise in EV sales, driven by improved battery supply stability and lower costs. Technological advances in lithium-ion batteries boost efficiency and address range concerns. Additionally, a 1% increase in renewable energy generation leads to a 0.25% rise in EV sales, driven by a preference for eco-friendly transport. However, patent innovation has minimal immediate impact on EV sales, and urbanization negatively affects them due to congestion. Recommended policies include competitive tenders, green procurement, purchase subsidies, and green finance to enhance mineral markets and sustainable transportation.

Suggested Citation

  • Du, Ruoyao, 2024. "Assessment of impacts of critical mineral resources on sustainable transport sector," Resources Policy, Elsevier, vol. 98(C).
    • Handle: RePEc:eee:jrpoli:v:98:y:2024:i:c:s0301420724007025
    DOI: 10.1016/j.resourpol.2024.105335
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    More about this item

    Keywords

    Critical mineral resource development; Green transport sector; Lithium production; Major EVs market; CS-FMOLS panel approach;
    All these keywords.

    JEL classification:

    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
    • Q34 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Natural Resources and Domestic and International Conflicts
    • L92 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Railroads and Other Surface Transportation
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models

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