Abstract:
The development of electric vehicles (EVs) has become a crucial aspect of
sustainable transportation systems and greenhouse gas emissions reduction strategy.
This research delves into identifying and analyzing factors that affect the growth of
EV markets in European Union countries. The study utilizes panel data from 27 EU
nations during the period between 2018 and 2021, employing pooled OLS and
random effects regression models to evaluate various factors' impact on national EV
sales. Independent variables used include national transport taxes, publicly
accessible charging stations for electricity, average national energy prices, consumer
gasoline prices, gross domestic product per capita, total land area, and population
employment rates. Results suggest that these variables have varying impacts on the
adoption rate of EVs across EU nations but may still be critical determinants for
policymakers seeking to increase their nation's electric vehicle market share. The
results show that national transport taxes, the number of publicly accessible power
charging stations, gross domestic product per capita, total land area, and consumer
prices of gas oil automobile have a statistically significant impact on the
development of the electric vehicle market in the EU countries, while the average
national price of electrical energy and proportion of the population that is employed
do not. These findings can provide valuable insights for policymakers and industry
stakeholders to design effective strategies and policies to promote the adoption and
development of EVs in the EU countries
