Advances in Economics, Management and Political Sciences

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Proceedings of the 3rd International Conference on Business and Policy Studies

Series Vol. 67 , 05 January 2024


Open Access | Article

The Positive Reinforcement of New Energy Vehicles on the Overall Automobile Market

Yifan Zheng * 1
1 University College London

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 67, 108-115
Published 05 January 2024. © 05 January 2024 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Yifan Zheng. The Positive Reinforcement of New Energy Vehicles on the Overall Automobile Market. AEMPS (2024) Vol. 67: 108-115. DOI: 10.54254/2754-1169/67/20241275.

Abstract

New energy vehicles (NEVs), including battery electric vehicles (BEVs), plug-in hybrid vehicles (PHEVs) and fuel cell electric vehicles (FCEVs), have gained significant traction in recent years both in China and globally due to heightened environmental awareness, government support, and technological innovations. While some studies suggest that the rise of NEVs has led to a decline in traditional fuel vehicle (TFVs) sales, particularly in developed countries with high EV adoption rates, others argue that the NEV market's growth has spurred innovation throughout the entire automobile industry, which would have a positive impact on the entire automobile market. This paper delves into the intricate relationship between NEVs and the traditional automobile market, concentrating on whether the surge in NEVs causes crowding-out effects or fosters positive reinforcement. Our data analysis supports the latter notion, revealing that NEVs have not supplanted TFVs but have, in fact, energized the entire automotive sector. Drawing insights from existing literature, this paper analyses the key drivers behind this positive reinforcement, emphasizing the role of government policies, consumer behaviour, and industry innovations in shaping this dynamic.

Keywords

new energy vehicles, traditional fuel vehicles, positive reinforcement

References

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Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 3rd International Conference on Business and Policy Studies
ISBN (Print)
978-1-83558-265-7
ISBN (Online)
978-1-83558-266-4
Published Date
05 January 2024
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/67/20241275
Copyright
05 January 2024
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated