Answer to Question #207832 in Management for shritha

Question

As a businessman planning to build electric vehicles, would you invest in research in electric vehicles technology or would you import the technology from abroad? Answer the same question if instead of a businessman, you were a policymaker who had to make policies for electric vehicle adoption in India.

Answer 1

I will invest in research and also import the technology due to the following reasons:

Running costs are lower. The expense of electricity to recharge an electric vehicle is roughly 40% less than the cost of gasoline for a similar-sized vehicle traveling the same distance.

Maintenance is less expensive. A battery electric vehicle (BEV) has lesser operating components than a gasoline or diesel vehicle. Compared to a petrol or diesel car, servicing is comparatively simple, less frequent, and overall less expensive.

Environmentally friendly. Less pollution: When one chooses to drive an electric vehicle, he or she is assisting in the reduction of dangerous air pollution caused by exhaust emissions. When an electric vehicle (EV) is charged from the grid, it produces some greenhouse gas emissions.

It is healthier for us. Reductions in toxic exhaust emissions are beneficial to human health. Air contamination will cause fewer health concerns and costs if the quality of the air is improved. Electric vehicles are also quieter than gasoline and diesel vehicles, resulting in reduced noise pollution.

Best for the network. If electric vehicle charging is efficiently managed, particularly outside of peak energy demand times, it will aid in the creation of a flatter power network demand profile over a typical 24-hour period. This will helps in:

·EV users can avoid higher-cost charging periods by making greater use of the energy network, which helps the overall electricity system run more efficiently.

·Assist in the incorporation of additional small and large-scale renewable energy systems into the grid.

·Better security of our energy supplies can enhance energy security on a national basis. For the time being, Australia's petroleum imports are heavily reliant on other countries.

·Electric vehicles are simple to power with local and renewable energy, eliminating our reliance on foreign oil.