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...
| Main Authors: | , , , , , |
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| Format: | Article |
| Language: | English |
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IEEE
2023-01-01
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| Series: | IEEE Access |
| Subjects: | |
| Online Access: | https://ieeexplore.ieee.org/document/10155115/ |
| _version_ | 1797792160095928320 |
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| author | Leonardo Bitencourt Bruno Dias Tiago Soares Bruno Borba Jairo Quiros-Tortos Vinicius Costa |
| author_facet | Leonardo Bitencourt Bruno Dias Tiago Soares Bruno Borba Jairo Quiros-Tortos Vinicius Costa |
| author_sort | Leonardo Bitencourt |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-03-13T02:29:13Z |
| format | Article |
| id | doaj.art-7114c32059bc4b71b90158ff7cbed851 |
| institution | Directory Open Access Journal |
| issn | 2169-3536 |
| language | English |
| last_indexed | 2024-03-13T02:29:13Z |
| publishDate | 2023-01-01 |
| publisher | IEEE |
| record_format | Article |
| series | IEEE Access |
| spelling | doaj.art-7114c32059bc4b71b90158ff7cbed8512023-06-29T23:00:23ZengIEEEIEEE Access2169-35362023-01-0111631496316610.1109/ACCESS.2023.328738810155115Understanding Business Models for the Adoption of Electric Vehicles and Charging Stations: Challenges and Opportunities in BrazilLeonardo Bitencourt0https://orcid.org/0000-0002-4076-8503Bruno Dias1https://orcid.org/0000-0002-7663-235XTiago Soares2Bruno Borba3Jairo Quiros-Tortos4Vinicius Costa5Electrical Energy Department, Federal University of Juiz de Fora (UFJF), Juiz de Fora, Minas Gerais, BrazilElectrical Energy Department, Federal University of Juiz de Fora (UFJF), Juiz de Fora, Minas Gerais, BrazilINESC Technology and Science (INESC TEC), Porto, PortugalElectrical Engineering Department, Fluminense Federal University (UFF), Rio de Janeiro, Niteroi, BrazilSchool of Electrical Engineering, University of Costa Rica (UCR), San Pedro, San José, Costa RicaInstitute of Electrical Systems and Energy, Federal University of Itajuba (UNIFEI), Minas Gerais, Itajuba, BrazilAlthough 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.https://ieeexplore.ieee.org/document/10155115/Business modelscharging stationsEV adoptioninnovative |
| spellingShingle | Leonardo Bitencourt Bruno Dias Tiago Soares Bruno Borba Jairo Quiros-Tortos Vinicius Costa Understanding Business Models for the Adoption of Electric Vehicles and Charging Stations: Challenges and Opportunities in Brazil IEEE Access Business models charging stations EV adoption innovative |
| title | Understanding Business Models for the Adoption of Electric Vehicles and Charging Stations: Challenges and Opportunities in Brazil |
| title_full | Understanding Business Models for the Adoption of Electric Vehicles and Charging Stations: Challenges and Opportunities in Brazil |
| title_fullStr | Understanding Business Models for the Adoption of Electric Vehicles and Charging Stations: Challenges and Opportunities in Brazil |
| title_full_unstemmed | Understanding Business Models for the Adoption of Electric Vehicles and Charging Stations: Challenges and Opportunities in Brazil |
| title_short | Understanding Business Models for the Adoption of Electric Vehicles and Charging Stations: Challenges and Opportunities in Brazil |
| title_sort | understanding business models for the adoption of electric vehicles and charging stations challenges and opportunities in brazil |
| topic | Business models charging stations EV adoption innovative |
| url | https://ieeexplore.ieee.org/document/10155115/ |
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