Understanding business models for the adoption of electric vehicles and charging stations: Challenges and opportunities in Brazil

Although electric vehicle (EV) sales have been increasing over the years, worldwide EV adoption is still low. In Brazil, the key factors influencing this are the EV high acquisition cost and the reduced charging infrastructure. Therefore, traditional business models may not be adequate for Brazil an...

Full description

Saved in:
Bibliographic Details
Published in:IEEE access 2023-01, Vol.11, p.1-1
Main Authors: Bitencourt, Leonardo, Dias, Bruno, Soares, Tiago, Borba, Bruno, Quiros-Tortos, Jairo, Costa, Vinicius
Format: Article
Language:English
Subjects:
Biological system modeling
Business
Business models
Charging stations
Costs
Electric vehicle charging
Electric vehicles
Europe
EV adoption
Finance
Innovative
Public policy
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Although electric vehicle (EV) sales have been increasing over the years, worldwide EV adoption is still low. In Brazil, the key factors influencing this are the EV high acquisition cost and the reduced charging infrastructure. Therefore, traditional business models may not be adequate for Brazil and stagnate EV diffusion. Thus, designing innovative business models can be crucial to accelerate the transition to electric mobility in the region. In this way, this article aims to critically review business models for EV adoption and charging stations worldwide and discuss its application in Brazil. Then, the challenges and opportunities for some business model options are highlighted through the SWOT matrix. One can conclude that EV sharing is a promising business model for Brazil, given the series of advantages such as access to cutting-edge technology at an affordable price, reduction of vehicles on the streets, and given convenience for users (no concern with charging, EV degradation, and parking). However, public policies, subsidies, and coordination between different agents are crucial for the proliferation of this model. On the other hand, for the proposed CS models, the more traditional option is the less risky for investors in Brazil until the number of EVs increase.
ISSN:2169-3536
2169-3536
DOI:10.1109/ACCESS.2023.3287388