Analysis of Electric Vehicles with an Economic Perspective for the Future Electric Market

S. Sofana Reka, Prakash Venugopal, V. Ravi, Hassan Haes Alhelou, Amer Al-Hinai, Pierluigi Siano*

*Corresponding author for this work

Research output: Contribution to journalReview articlepeer-review

Abstract

The automotive industry is marching towards cleaner energy in the impending future. The need for cleaner energy is promoted by the government to a large degree in the global market in order to reduce pollution. Automobiles contribute to an upper scale in regard to the level of pollution in the environment. For cleaner energy in automobiles, the industry needs to be revolution-ized in all needed ways to a massive extent. The industry has to move from the traditional internal combustion engine, for which the main sources of energy are nonrenewable sources, to alternative methods and sources of energy. The automotive industry is now focusing on electric vehicles, and more research is being highlighted from vehicle manufacturers to find solutions for the problems faced in the field of electrification. Therefore, to accomplish full electrification, there is a long way to go, and this also requires a change in the existing infrastructure in addition to many innovations in the fields of infrastructure and grid connectively as well as the economic impacts of electric vehicles in society. In this work, an analysis of the electric vehicle market with the economic impacts of electric vehicles is studied. This therefore requires the transformation of the automotive industry.

Original languageEnglish
Article number172
JournalFuture Internet
Volume14
Issue number6
DOIs
Publication statusPublished - Jun 2022

Keywords

  • economic impact
  • electric grids
  • electric vehicles
  • renewable energy

ASJC Scopus subject areas

  • Computer Networks and Communications

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