Multidimensional Factors Driving the Substitution Effect of New Energy Vehicles: an Empirical Study Based on Provincial Data from China

DOI

10.2991/978-94-6463-572-0_15How to use a DOI?

Keywords

New Energy Vehicles; Substitution Effect; Panel Data Analysis; Consumer Preferences

Abstract

This study comprehensively examines the substitution effects of new energy vehicles (NEVs) for conventional gasoline vehicles in China. Employing panel data and fixed-effects models, we scrutinize the influences of economic indicators, environmental factors, and infrastructural advancements on the adoption rates of NEVs across various provinces. Our analysis reveals a robust positive correlation between per capita GDP and the uptake of NEVs, underscoring the significant role of economic prosperity in fostering sustainable automotive choices. Conversely, higher electricity prices and challenging geographical terrains (e.g., steep inclines) are associated with lower adoption rates, suggesting barriers that could impede the widespread transition to NEVs. Additionally, the study explores the dynamics of gasoline prices and charging station availability, further illuminating their complex relationships with NEV adoption. These findings not only enhance our understanding of consumer preferences and market dynamics but also provide nuanced insights into the effectiveness of current policies and strategic directions for promoting sustainable automotive technologies in diverse economic and environmental contexts.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Download article (PDF)

TY  - CONF
AU  - Mingrui Cui
AU  - Shuo Wang
PY  - 2024
DA  - 2024/11/19
TI  - Multidimensional Factors Driving the Substitution Effect of New Energy Vehicles: an Empirical Study Based on Provincial Data from China
BT  - Proceedings of the 3rd International Conference on Financial Innovation, FinTech and Information Technology (FFIT 2024)
PB  - Atlantis Press
SP  - 136
EP  - 144
SN  - 2352-538X
UR  - https://doi.org/10.2991/978-94-6463-572-0_15
DO  - 10.2991/978-94-6463-572-0_15
ID  - Cui2024
ER  -