Open AccessTransition in Automotive Sector from Fuel-Based Engines to Electric Vehicles: A Study on Consumer Attitude towards Electric Vehicles
Author(s) -
Raghu G. A,
Mala K. M
Publication year - 2022
Publication title -
international journal for research in applied science and engineering technology
Language(s) - English
Resource type - Journals
ISSN - 2321-9653
DOI - 10.22214/ijraset.2022.40606
Subject(s) - battery (electricity) , battery electric vehicle , automotive industry , subsidy , automotive engineering , electric vehicle , gasoline , electric vehicle battery , business , engineering , economics , waste management , power (physics) , physics , quantum mechanics , market economy , aerospace engineering
Electric Vehicles have advanced significantly in quite your time, owing partially to decreasing battery costs. Yet EVs remain more costly than gasoline fueled vehicles over their useful life .This research paper analyzes the additional advances which can be needed ,if electric vehicles are to significantly penetrate the passenger vehicle fleet during this low pricing market. This has further been divided into 3sub parts: 1) Battery Prices 2) Will Declining Battery Costs Make EVs competitive? 3) EV’s Charging Infrastructure challenges Battery Prices- Cell costs have fell down drastically to $100 kwh or 7500RS approximately or lower and are even expected to continue falling with technological improvements and returns to large-scale production. While cells are just one component of the value of an installed battery, the price of installed battery, the value of installed batteries has declined from around $1000 per kwh in 2010 to an estimated $250 -350 per kwh in 2018.Total Battery costs are falling more slowly as consumers demand EVs with longer ranges and thus larger batteries. Meanwhile, governments are finding it difficult to fiscally justify large subsidies to draw in buyers. Keywords: Costs, Gasoline, Battery costs, Consumer Attitude, Automotive industry