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2023 | OriginalPaper | Buchkapitel

20. Comparison of Economic Viability of Electric and Internal Combustion Engine Vehicles Based on Total Cost of Ownership Analysis

verfasst von : Deepak Kumar, Gautam Kalghatgi, Avinash Kumar Agarwal

Erschienen in: Transportation Systems Technology and Integrated Management

Verlag: Springer Nature Singapore

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Abstract

Global climate change and local air quality concerns due to transport activities have led to several governmental interventions to accelerate the transition of internal combustion engine vehicles (ICEVs) powered transport sector to alternative powertrains such as battery electric vehicles (BEVs). In today’s world, every county is aiming for sustainable development. There are questions about the sustainability of BEVs which need to be answered. There are three main pillars of sustainability: environment, economy, and social. This study reviews the comparison of BEVs and ICEVs based on the total cost of ownership (TCO), a tool for ensuring economic sustainability. TCO varies from country to country and their policies. This chapter reveals that for a BEV to be TCO-competitive without subsidies/incentives, the initial purchase price of the vehicle needs to be reduced substantially or the average annual distance travelled must be increased severalfold. Technological innovations and economies of scale will reduce the price of a BEV; however, this will take a long time to materialize. From a TCO perspective, a BEV can be cost-competitve only in high mileage use cases, such as taxi fleet operators or ride-hailing companies, and it’s not competitive for most private car owners.

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Titel: Comparison of Economic Viability of Electric and Internal Combustion Engine Vehicles Based on Total Cost of Ownership Analysis
verfasst von: Deepak Kumar
Gautam Kalghatgi
Avinash Kumar Agarwal
Verlag: Springer Nature Singapore
Buch: Transportation Systems Technology and Integrated Management
Print ISBN: 978-981-9915-16-3

Electronic ISBN: 978-981-9915-17-0

Copyright-Jahr: 2023
DOI: https://doi.org/10.1007/978-981-99-1517-0_20

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