Social and Technological Impact of Businesses Surrounding Electric Vehicles

Rachana Vidhi, Prasanna Shrivastava and Abhishek Parikh
Additional contact information
Rachana Vidhi: Harvard Extension School, Harvard University, Cambridge, MA 02138, USA
Prasanna Shrivastava: Harvard Extension School, Harvard University, Cambridge, MA 02138, USA
Abhishek Parikh: DNV-GL, San Diego, CA 92122, USA

Clean Technol., 2021, vol. 3, issue 1, 1-17

Abstract: Electric vehicle (EV) penetration has been increasing globally and is expected to continue its exponential growth over the coming decades. Several countries have already announced plans to achieve total or partial electrification of their vehicle fleets. Such rapid transportation electrification will have a significant impact on society and businesses that support the transportation industry. Additionally, new business opportunities will be available to support this technological evolution. In this paper, the business opportunities emerging from EVs and their supporting infrastructure are reviewed. It has been observed that several businesses, such as sustainable mining and manufacturing, will need to be developed before EV growth as they provide the initial platform required for EV adoption. Other businesses such as fleet optimization, battery management, and recycling can be developed at a later stage. All of these businesses will also have social and technological impacts, which will drive policy decisions. Regional governments play a critical role in ensuring the smooth execution of a transition to transportation electrification through social programs, such as training and education for equitable growth, and legislative decisions, such as technology standardization.

Keywords: electric vehicles; battery; business models; lifecycle (search for similar items in EconPapers)
JEL-codes: Q2 Q3 Q4 Q5 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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