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

Author

Listed:
  • Sofana Reka S

    (School of Electronics Engineering, Vellore Institute of Technology, Chennai 600127, India)

  • Prakash Venugopal

    (School of Electronics Engineering, Vellore Institute of Technology, Chennai 600127, India)

  • Ravi V

    (School of Electronics Engineering, Vellore Institute of Technology, Chennai 600127, India)

  • Hassan Haes Alhelou

    (Department of Electrical Power Engineering, Faculty of Mechanical and Electrical Engineering, Tishreen University, Lattakia 2230, Syria)

  • Amer Al-Hinai

    (Department of Electrical and Computer Engineering, College of Engineering, Sultan Qaboos University, Al-Khoudh, Muscat 123, Oman)

  • Pierluigi Siano

    (Department of Management & Innovation Systems, University of Salerno Via Giovanni Paolo II, 132, 84084 Fisciano, Italy
    Department of Electrical and Electronic Engineering Science, University of Johannesburg, Johannesburg 2006, South Africa)

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 revolutionized 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.

Suggested Citation

  • Sofana Reka S & Prakash Venugopal & Ravi V & Hassan Haes Alhelou & Amer Al-Hinai & Pierluigi Siano, 2022. "Analysis of Electric Vehicles with an Economic Perspective for the Future Electric Market," Future Internet, MDPI, vol. 14(6), pages 1-17, May.
    • Handle: RePEc:gam:jftint:v:14:y:2022:i:6:p:172-:d:829466
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    References listed on IDEAS

    as
    1. Vasileios Boglou & Christos-Spyridon Karavas & Konstantinos Arvanitis & Athanasios Karlis, 2020. "A Fuzzy Energy Management Strategy for the Coordination of Electric Vehicle Charging in Low Voltage Distribution Grids," Energies, MDPI, vol. 13(14), pages 1-34, July.
    2. Chong Cao & Luting Wang & Bo Chen, 2016. "Mitigation of the Impact of High Plug-in Electric Vehicle Penetration on Residential Distribution Grid Using Smart Charging Strategies," Energies, MDPI, vol. 9(12), pages 1-19, December.
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    Cited by:

    1. Hasan Huseyin Coban & Wojciech Lewicki & Ewelina Sendek-Matysiak & Zbigniew Łosiewicz & Wojciech Drożdż & Radosław Miśkiewicz, 2022. "Electric Vehicles and Vehicle–Grid Interaction in the Turkish Electricity System," Energies, MDPI, vol. 15(21), pages 1-19, November.
    2. J.-K. Rostovski, 2023. "Impact of Electric Vehicle Development on Energy Consumption: Risks and Opportunities for the Russian Economy," Studies on Russian Economic Development, Springer, vol. 34(3), pages 353-362, June.

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