Electric Vehicles in the USA. Economic Benefits and Environmental Impact

Joeleen Kimbell

• Publisher: GRIN Verlag
• Year: 2024
• eBook ISBN: 9783389087510
• Edition: 1
• Topic: Business
• Subtopic: Marketing Research
• Index: Business

Case Study from the year 2023 in the subject Business economics - Market research, grade: A, language: English, abstract: This study aims to conduct an empirical review of the economic and environmental implications of electric vehicles in the US to depict a balanced view of the outcome of the technology. As EV demand grows due to technological progress and consequent emphasis on climate change solutions, the role of these vehicles in recasting parts of the American economy and environment has to be discussed. This paper aims to determine the amount of money that can be saved through the use of EVs by comparing the fuel costs of EVs to conventional ICE vehicles. These savings can lead to more disposable income so households can spend money on other aspects of the economy. The paper focuses on how the change from a reliance on gasoline to electricity can decrease the countries' reliance on oil importation. This shift has profound geo-political consequences and can act as a force for improving national energy security and economic resilience. In particular, the study aims to establish new employment opportunities created by the EV value network extending from manufacturing to transport infrastructure development. This includes manufacturing of batteries, assembling cars, maintenance of cars, and even setting up charging stations and their maintenance.The study also concerns the environmental impact of the extensive use of EVs. Thus, by comparing emissions data in the study, the study seeks to illustrate that EVs produce fewer CO2 and other greenhouse gas emissions than ICE vehicles. This reduction is essential to achieve national and international climate targets and goals. Exploring the effects of EVs on air quality, the paper focuses on the effect on NOx emissions and PM emissions. This is a crucial benefit because high atmospheric pollution levels are detrimental to human health, especially in crowded regions.