Subsidies for promoting plug-in electric vehicle (PEV) adoption are a key component of China’s overall plan for reducing local air pollution and greenhouse gas emissions from the light-duty vehicle sector. In this paper, we explore the impact and cost-effectiveness of the Chinese PEV subsidy program. In particular, a vehicle choice model is estimated using a large random sample of individual level, model year 2017 Chinese new vehicle purchases. The choice model is then used to predict PEV market share under alternative policies. Simulation results suggest that the 2.5% PEV market share of Chinese new vehicle sales in 2017 resulted in China’s new vehicle fleet fuel economy improving by roughly 2%, reducing total gasoline consumption by 6.66 billion liters. However, the current PEV subsidy in China is expensive, costing $1.90 per additional liter of gasoline saved. This is due to a large number of non-additional PEV buyers, particularly high income consumers, who would have purchased the PEV regardless of the subsidy.
التوزيع العالمي لحجم حركة السفر الجوي للركاب داخل المناطق وبين الأقاليم
Subsidies for promoting plug-in electric vehicle (PEV) adoption are a key component of China’s overall…
23rd نوفمبر 2023
التوزيع العالمي لحجم حركة الشحن الجوي الداخلي والعابر للمناطق
Subsidies for promoting plug-in electric vehicle (PEV) adoption are a key component of China’s overall…
26th أكتوبر 2023