An Economic Comparison between Electric and Conventional Vehicles Based on System Dynamics

Abstract:

Currently the number of electric vehicles on road is still small, the main reasons are their high cost, poor economic returns, which lead to their weak market competitiveness. In this paper, a system dynamics model was built to compare the life cycle costs of the electric vehicles and the conventional vehicles using Vensim. The results show that by the second half of 2016, the electric vehicles will be more economical than the conventional vehicles, and with the passage of time and the progress of technologies, economic benefits of electric vehicles would be more significant, and then the electric vehicles market could enter a period of rapid development.

• Periodical: Advanced Materials Research (Volumes 834-836)
• Pages: 2003-2008
• DOI: https://doi.org/10.4028/www.scientific.net/AMR.834-836.2003
• Online since: October 2013
• Authors: Jian Quan Xu*, Yan Ping Yang, Ren Shu Yin
• Keywords: Conventional Vehicle, Economic Evaluation, Electric Vehicle (EV), System Dynamics (SD)

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