Examining the Pros and Cons, Why Radical Disruption Is Not Always Beneficial: Lessons from Demonetization, International Monetary Fund: A Closer Look. The pressing nature of environmental issues has caused automotive companies to invest in the widespread adoption of alternative energy for their vehicles.In 2017, 68 percent of Americans stated driving range was a concern for investing in an electric vehicle, but that number that dropped to 58 percent in 2018. In short, the report concludes, “whether in the form of gasoline or diesel, oil’s days as a fuel for LDVs are clearly numbered because the economics of new wind and solar projects combined with EVs are set to become irresistible”. That doesn’t make it a bad deal; it just means you should consider your actual tax situation before discounting the purchase price. Saudi Arabia, Russia, Nigeria, the UAE, Canada, Iraq, Angola, Libya, etc. Even allowing for the structural advantage enjoyed by oil in terms of flow rates, “we think the economics of renewables are already impossible for oil to compete with when looked at over the cycle,” the report states. Answers for the economic feasibility of electric vehicle would be as follows. The electric vehicle market in China has expanded rapidly, making China the largest electric vehicle market in the world. What India Inc. Expects from President Trump and Likely Outcomes from His Visit, How Should the Indian Government Manage a Possible Collapse of the Financial System, How the Coronavirus Outbreak Would Change the Way We Work and Live in the Future, As the World Grind to a Halt, a Look Ahead at What is in Store for the Global Economy. The Two Conflicting Theories of Recession. In other words, we are in a similar boat as the EU. What Would Happen If America Leaves NAFTA? These issues can have a profound impact on company performance but are still largely ignored by many investors. Sign up for our free daily newsletter or weekly newsletter to never miss a story. Prepared by . Yes, it is true that the credit is available, and yes, it is true that everyone is entitled to it. Prepared for . electric vehicles; TPB; TAM; IDT; structural equation model, Help us to further improve by taking part in this short 5 minute survey. iv Abstract Title: Implementation of electric cars in Iceland. The Economic Impact of the Power Grab in China, How Sports Became Big Business and Its Implications for All Stakeholders, Corporate and Individual Strategies to Respond to the Protectionism Worldwide, The Walmart-Flipkart Deal and Its Implications for the eCommerce and Retail Sectors, Implications of Emerging Trends in Tourism for Developing Countries and Societies, Case Study of the Indian Aviation Sector: Soaring High or Turbulence Ahead, Early Bird Catches the Worm: Why First Mover Advantage Matters to Everyone, Why Viewing Global Trade in Zero Sum Terms is Shortsighted and Self Defeating, How Singapore Became a World Class Regional Financial and Commercial Hub, Economic Shocks, Creative Destruction, and Their Effects on Nations and Individuals, Historic Greek Debt Relief Deal and the Lessons for Other Nations from this Crisis, Barriers to India achieving Double Digit Growth, Looking beyond BRICS for the Next Economic Hotspots, Why the World Needs an Urban Rejuvenation for Sustainable Urbanization, Missed Call: A Case Study of the Indian Telecom Industry in the Post Liberalization Era, What is FOMO (Fear of Missing out) and how it Impacts all of us in the Digital Age. Is this the New Normal for the Indian Economy? 2005. MDPI stays neutral with regard to jurisdictional claims in published maps and institutional affiliations. Beyond cutting €525 million a day in imports, there are many more economic benefits that I will discuss further down the article, after introducing the US situation. Will the GST (Goods and Services Tax) be the Game-Changer for the Indian Economy? There is considerable debate about when that might happen. Or is it yet another startup bubble waiting to pop? That’s approximately $155 billion a year. BMW also offers the i3 fully electric vehicle for an MSRP of $41,350, plus options that can quickly raise the price to well over $50,000. Can India Really Guarantee a Minimum Income? Why Businesses Must Prepare for Chaos and Confusion as the New Normal to Come. Graduate School of Design, National Yunlin University of Science &Technology, Yunlin 640, Taiwan. Tu, J.-C.; Yang, C. Key Factors Influencing Consumers’ Purchase of Electric Vehicles. Some Perspectives on the Way Ahead, Why the Present Job Crisis in India is a Perfect Storm of Converging Trends, The Pros and Cons of Reserving Jobs for Locals and Regional and Linguistic Chauvinism, The Changing Role of the CEOs in the Digital Age and What It Means for Them, Why the 2020 Presidential Election in the United States are Pivotal to Global Businesses. The future is not looking bright for oil, according to a new report that claims the commodity would have to be priced at $10-$20 a barrel to remain competitive as a transport fuel. Also, the car takes close to an hour to recharge and can run for only 140 miles in one charge. Therefore, the government and relevant manufacturers need to consider increasing the publicity of electric vehicles and launch more attractive battery and charging schemes to attract consumers and promote the sustainable development of the automobile industry. How the Promised Utopia of Technology is Turning into a Perilous Dystopian Nightmare, Why Indians Must Change Their Work Habits to Become World Class Professionals. Oil-rich countries and billionaire oil barons are the most obvious parties that will have a tough time adjusting, but there will also be ramifications in many other sectors of society, as oil company investors lose cash, oil industry workers lose their jobs, etc. Why is HealthCare Expensive in the United States ? Management Study Guide is a complete tutorial for management students, where students can learn the basics as well as advanced concepts related to management and its related subjects. Why Growth is Stalling around the World ? Apple’s Trillion Dollar Achievement and Also Some Forthcoming Challenges, Europe's Controversial Common Agricultural Policy, Why Tax Harmonization in the Eurozone Is a Bad Idea, The Turkish Collapse and Its Effect on Europe, America's Response to China's Belt and Road Initiative, The Introduction of Property Tax in China, Factors behind the Rise of the Swiss Economy. Much of that money isn’t going to make it back into the US economy in any way, shape, or form. Oil's days as a transportation fuel are numbered because the economics of renewable energy are so compelling, says a new report from BNP Paribas. How will the Sino American Trade War End? In addition, consumers’ environmental awareness and acceptance of technology products will also influence their behavioral intention. Why are American Medicare Expenses Rising Rapidly? Economic Impacts of Electric Vehicle Adoption. That’s still nothing to scoff at. Digital Cash: Advantages and Disadvantages, Facebook’s Entry into the World’s Payment Systems, The Trade Deal between America and Mexico. Demonetization and Its Impact on the Indian Economy, Digital Payments: What they are, How they Work, and their Benefits and Problems, The Promise and Peril of the Digital Economy, Move to a Digital Economy Cannot Happen Without the Government Providing the Ecosystem, Donald Trump’s Stance on Illegal Immigration. A Sequential Hybridization of Genetic Algorithm and Particle Swarm Optimization for the Optimal Reactive Power Flow, Green Procurement Decisions with Carbon Leakage by Global Suppliers and Order Quantities under Different Carbon Tax. India plans to sell only electric cars by 2030 and in China, ... A new global economic recession as well as environmental disasters are also realistic factors that would have a direct impact on the overall growth in demand for minerals, metals and rare earths. Received: 17 May 2019 / Revised: 14 July 2019 / Accepted: 15 July 2019 / Published: 16 July 2019, (This article belongs to the Special Issue. The health costs, the climate catastrophe costs, and the national security costs can all be cut by switching to electric transport (and cut further by switching to clean electricity production), and that could provide a great economic boon to the USA, Europe, and basically every country in the world.