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Does Driving Range of Electric Vehicles Influence Electric Vehicle Adoption?

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  • Seiho Kim

    (Graduate School of Management of Technology, Korea University, 145 Anam-ro, Seongbuk-gu, Seoul 02841, South Korea)

  • Jaesik Lee

    (Technology Appraisal Department, Korea Technology Finance Corporation, 33 Munhyeon Geumyung-ro, Nam-gu, Busan 48400, South Korea)

  • Chulung Lee

    (School of Industrial Management Engineering, Korea University, 145 Anam-ro, Seongbuk-gu, Seoul 02841, South Korea)

Abstract

This study aims to determine the influential factors on the market share of electric vehicles through panel data analysis based on time series data from 2011 to 2015 in 31 countries. We selected five significant independent variables that are expected to affect electric vehicle adoption based on literature review. The econometric model in this study suggests that the relative price of electric vehicle compared to internal combustion engine vehicle, driving range, and number of models available in markets are correlated to the market share of electric vehicles. On the other hand, relationship between recharging infrastructure—an important factor for electric vehicle adoption in many studies—and market share of electric vehicles turned out to be insignificant in this study. From a political point of view, we argue that policy makers need to allocate more resources to research and development in order to extend driving range at the early stage of electric vehicle deployment in the markets.

Suggested Citation

  • Seiho Kim & Jaesik Lee & Chulung Lee, 2017. "Does Driving Range of Electric Vehicles Influence Electric Vehicle Adoption?," Sustainability, MDPI, vol. 9(10), pages 1-15, October.
    • Handle: RePEc:gam:jsusta:v:9:y:2017:i:10:p:1783-:d:113883
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