The Comparative Analysis of the Electric Vehicle Markets in the Context of Green and Digital Solutions

Abstract

In today’s world, the promotion of electric vehicles has become the number-one priority of the low-carbon economic development paradigm in developed and major developing countries. In contrast to mature economies, the Russian electric vehicle market is only at the initial stage of its formation. The article discusses the opportunities for promoting a high-tech, environmentally friendly electric vehicle industry in Russia. The methodological framework of the study is based on the theories of sustainable and long-term technical–economic development. The methods of comparative and structural analysis and SWOT analysis are used. We hypothesize that in Russia there are prerequisites and opportunities for creating a new high-tech electric vehicle industry, which implements ESG principles. The paper determines the current trends in the development of the global electric vehicle market and identifies the key factors affecting its dynamic growth. The authors systematize the experience of advanced countries relating to direct and indirect measures of state support for the development of electric vehicles and EV charging infrastructure. Based on the SWOT analysis results, the real opportunities and risks associated with the unfolding of the Russian electric vehicle market are established. We substantiate that it is of great importance for Russia to develop the electric vehicle industry from the standpoint of the environmental agenda as well as the creation of a new high-tech industry that stimulates the emergence of numerous related end-to-end technologies. We have found that the country’s regional and municipal authorities and the Russian business are keenly interested in advancing the electric vehicle industry. The main findings of the study can be useful when formulating regional programs for the development of electric vehicles and adjusting regional industrial policy of the constituent territories of the Russian Federation.