IDEAS home Printed from https://ideas.repec.org/a/vrs/ecocul/v20y2023i1p102-113n1.html
   My bibliography  Save this article

Electric Vehicles from an Economic Point of View

Author

Listed:
  • Urbánová Mária

    (Institute of Economics and Management, Faculty of Economics and Management, Slovak University of Agriculture in Nitra, Nitra, Slovak Republic)

  • Čeryová Dominika

    (Institute of Economics and Management, Faculty of Economics and Management, Slovak University of Agriculture in Nitra, Nitra, Slovak Republic)

  • Benďáková Viktória

    (Institute of Economics and Management, Faculty of Economics and Management, Slovak University of Agriculture in Nitra, Nitra, Slovak Republic)

  • Husárová Patrícia

    (Institute of Economics and Management, Faculty of Economics and Management, Slovak University of Agriculture in Nitra, Nitra, Slovak Republic)

Abstract

Research purpose. In recent years, the importance of moving from a linear economy to a circular economy in every area and sector of the economy has been discussed more than ever before. This includes discussions on a net zero energy system as the basis for a fully decarbonised electricity sector. The increase in demand for electricity and the push for net zero emissions are leading to a focus on using electric vehicles to meet the EU's sustainability targets. The European transport sector is responsible for a significant part of the European Union's total greenhouse gas emissions. The main aim is to evaluate the impacts of the automotive industry from an economic point of view because the increase in sales of electric cars can lead, among other things, to the mitigation of environmental problems. Design / Methodology / Approach. Electric cars and biofuel cars are the two most discussed solutions in the transport sector. As EVs are sustainable to the extent that their energy sources are sustainable, the main aim of this research paper is to investigate the impacts of the chosen electric vehicle types from an economic point of view, especially the sales of electric vehicles in the time period of 2010-2021. Battery electric vehicles and plug-in hybrid vehicles' sales situation will be analysed in Europe and globally. The assumptions and hypotheses were set and verified through regression and correlation analysis. Findings. The research results have confirmed our assumptions that the number of vehicles sold in Europe and worldwide is increasing with time. During the time period under consideration, electric car sales increased worldwide. 6,600,000 battery electric vehicles and plug-in hybrid vehicles were supplied in total in 2021, representing a 45% increase from the previous year. The most significant growth in car sales in Slovakia was in 2021, but only one-tenth of one per cent were electric vehicles. Originality / Value / Practical implications. A gradual shift of the main interest from automakers to electric vehicles is seen. At the same time, there are other questions connected to electric vehicles that need to be addressed and analysed, such as their high price, charging options and infrastructure and, nowadays, the electricity price.

Suggested Citation

  • Urbánová Mária & Čeryová Dominika & Benďáková Viktória & Husárová Patrícia, 2023. "Electric Vehicles from an Economic Point of View," Economics and Culture, Sciendo, vol. 20(1), pages 102-113, June.
    • Handle: RePEc:vrs:ecocul:v:20:y:2023:i:1:p:102-113:n:1
    DOI: 10.2478/jec-2023-0009
    as

    Download full text from publisher

    File URL: https://doi.org/10.2478/jec-2023-0009
    Download Restriction: no
    File URL: https://libkey.io/10.2478/jec-2023-0009?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
    ---><---

    References listed on IDEAS

    as
    1. Florin Mariasiu & Ioan Aurel Chereches & Horia Raboca, 2023. "Statistical Analysis of the Interdependence between the Technical and Functional Parameters of Electric Vehicles in the European Market," Energies, MDPI, vol. 16(7), pages 1-22, March.
    2. Li, Zhenhe & Khajepour, Amir & Song, Jinchun, 2019. "A comprehensive review of the key technologies for pure electric vehicles," Energy, Elsevier, vol. 182(C), pages 824-839.
    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. Xie, Yunkun & Li, Yangyang & Zhao, Zhichao & Dong, Hao & Wang, Shuqian & Liu, Jingping & Guan, Jinhuan & Duan, Xiongbo, 2020. "Microsimulation of electric vehicle energy consumption and driving range," Applied Energy, Elsevier, vol. 267(C).
    2. Chen, Jie & Wang, Ruochen & Ding, Renkai & Luo, Ding, 2024. "Matching design and numerical optimization of automotive thermoelectric generator system applied to range-extended electric vehicle," Applied Energy, Elsevier, vol. 370(C).
    3. Jie Hu & Wentong Cao & Feng Jiang & Lingling Hu & Qian Chen & Weiguang Zheng & Junming Zhou, 2023. "Study on Multi-Objective Optimization of Power System Parameters of Battery Electric Vehicles," Sustainability, MDPI, vol. 15(10), pages 1-23, May.
    4. Yossi Hadad & Baruch Keren & Dima Alberg, 2023. "An Expert System for Ranking and Matching Electric Vehicles to Customer Specifications and Requirements," Energies, MDPI, vol. 16(11), pages 1-18, May.
    5. Hicham El Hadraoui & Mourad Zegrari & Fatima-Ezzahra Hammouch & Nasr Guennouni & Oussama Laayati & Ahmed Chebak, 2022. "Design of a Customizable Test Bench of an Electric Vehicle Powertrain for Learning Purposes Using Model-Based System Engineering," Sustainability, MDPI, vol. 14(17), pages 1-22, September.
    6. Wen, Shuang & Lin, Ni & Huang, Shengxu & Wang, Zhenpo & Zhang, Zhaosheng, 2023. "Lithium battery health state assessment based on vehicle-to-grid (V2G) real-world data and natural gradient boosting model," Energy, Elsevier, vol. 284(C).
    7. Wu, Yingwen & Ji, Yangjian, 2023. "Identifying firm-specific technology opportunities from the perspective of competitors by using association rule mining," Journal of Informetrics, Elsevier, vol. 17(2).
    8. Tingting Wang & Xin Liu & Dongchen Qin & Yuechen Duan, 2022. "Thermal Modeling and Prediction of The Lithium-ion Battery Based on Driving Behavior," Energies, MDPI, vol. 15(23), pages 1-22, November.
    9. Ataur Rahman & Kyaw Myo Aung & Sany Ihsan & Raja Mazuir Raja Ahsan Shah & Mansour Al Qubeissi & Mohannad T. Aljarrah, 2023. "Solar Energy Dependent Supercapacitor System with ANFIS Controller for Auxiliary Load of Electric Vehicles," Energies, MDPI, vol. 16(6), pages 1-23, March.
    10. Foda, Ahmed & Abdelaty, Hatem & Mohamed, Moataz & El-Saadany, Ehab, 2023. "A generic cost-utility-emission optimization for electric bus transit infrastructure planning and charging scheduling," Energy, Elsevier, vol. 277(C).
    11. He, Hongwen & Han, Mo & Liu, Wei & Cao, Jianfei & Shi, Man & Zhou, Nana, 2022. "MPC-based longitudinal control strategy considering energy consumption for a dual-motor electric vehicle," Energy, Elsevier, vol. 253(C).
    12. Piotr Bielaczyc & Rafal Sala & Tomasz Meinicke, 2021. "Analysis of Technical Capabilities, Methodology and Test Results of a Light-Commercial Vehicle Conversion to Battery Electric Powertrain," Energies, MDPI, vol. 14(4), pages 1-18, February.
    13. Weiqi Zhou & Nanchi Wu & Qingchao Liu & Chaofeng Pan & Long Chen, 2023. "Research on Ecological Driving Following Strategy Based on Deep Reinforcement Learning," Sustainability, MDPI, vol. 15(18), pages 1-14, September.
    14. Abdulgader Alsharif & Chee Wei Tan & Razman Ayop & Ahmed Al Smin & Abdussalam Ali Ahmed & Farag Hamed Kuwil & Mohamed Mohamed Khaleel, 2023. "Impact of Electric Vehicle on Residential Power Distribution Considering Energy Management Strategy and Stochastic Monte Carlo Algorithm," Energies, MDPI, vol. 16(3), pages 1-22, January.
    15. Jain, Monika & Singh, Archana, 2024. "An empirical study on electric vehicle adoption in India: A step towards a greener environment," Transport Policy, Elsevier, vol. 156(C), pages 112-125.
    16. Xiao, Feng & Yang, Zhengguang & Wei, Bo, 2024. "Distributed fixed-time cooperative control for flywheel energy storage systems with state-of-energy constraints," Energy, Elsevier, vol. 293(C).
    17. Macias, A. & Kandidayeni, M. & Boulon, L. & Trovão, J.P., 2021. "Fuel cell-supercapacitor topologies benchmark for a three-wheel electric vehicle powertrain," Energy, Elsevier, vol. 224(C).
    18. Kandidayeni, M. & Macias, A. & Boulon, L. & Kelouwani, S., 2020. "Investigating the impact of ageing and thermal management of a fuel cell system on energy management strategies," Applied Energy, Elsevier, vol. 274(C).
    19. Mokesioluwa Fanoro & Mladen Božanić & Saurabh Sinha, 2022. "A Review of the Impact of Battery Degradation on Energy Management Systems with a Special Emphasis on Electric Vehicles," Energies, MDPI, vol. 15(16), pages 1-29, August.
    20. Deng, Huifan & Zhao, Youqun & Feng, Shilin & Wang, Qiuwei & Zhang, Chenxi & Lin, Fen, 2021. "Torque vectoring algorithm based on mechanical elastic electric wheels with consideration of the stability and economy," Energy, Elsevier, vol. 219(C).

    More about this item

    Keywords

    Electric vehicles; Circular economy; Sustainable economics;
    All these keywords.

    JEL classification:

    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities

    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:vrs:ecocul:v:20:y:2023:i:1:p:102-113:n:1. 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: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    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.