Government Policies and Economic Impact on Electric Vehicles (EVs) and Fast Charging Systems: A Review

Abstract

Conventional internal combustion engine (ICE) vehicles emit many types of pollutants. The list includes carbon dioxide (CO₂), nitrogen oxides (NO_x), particulate matter (PM), and volatile organic compounds (VOCs). They add much to air pollution, making it unhealthy to breathe. It results in various diseases related to respiration and the cardiovascular system. Moreover, conventional vehicles generate large amounts of greenhouse gases that are known to expedite global warming and changes in climate; mostly CO2. EVs have several advantages over conventional automobiles in helping to solve environmental problems. Tailpipe emission from an EV is zero, thereby significantly reducing urban air pollution and associated health hazards. EVs clean the air and make people's lives healthier by removing NOx and particulate matter (PM) pollutants; they also help in combating climate change by reducing GHG emissions. Government policies and activities drive the exponential growth in electric vehicles and fast-charging infrastructure. It incentivizes EV manufacturing and imports with subsidies, tax breaks, and lower registration costs, primarily to reduce the dependency on imported petroleum and lower resultant environmental pollution, apart from encouraging EV adoption.