Demand for plug-in electric vehicles across segments in the future vehicle market
Anders Fjendbo Jensen, Mikkel Thorhauge, Stefan Eriksen Mabit, Jeppe Rich
Abstract
The electrification of transport systems requires a change in the composition of the vehicle fleet towards higher shares of electric vehicles. A successful transition, however, depends on many factors of which some relate to purchase prices and vehicle features, while others relate to technology and charging infrastructure. This paper analyses the transition towards plug-in electric vehicles. We use data from a large representative Danish stated choice survey. Based on these data, we estimate a mixed logit model that allows for correlated random effects across fuel types and car segments as well as systematic heterogeneity. The results show that correlation and substitution indeed goes across these dimensions. Willingness-to-pay (WTP) measures are estimated for a variety of attributes. These suggest that the WTP for range varies with fuel types, that the possibility for home charging is highly valued, and that CO2 is a significant concern among individuals in the sample.