The Road Ahead for Hybrid or Electric Vehicles in Developing Countries: Market Growth, Infrastructure, and Policy Needs

Developing nations like Bangladesh have yet to adopt hybrid (HEVs) or electric vehicles (EVs) for goods carrying, whereas environmental pollution and fuel costs are hitting hard. The electrically powered cars and trucks market promises an excellent opportunity for environmentally friendly transportation. However, these countries’ inadequate infrastructure, substantial initial expenses, and insufficient policies impeding widespread acceptance hold market growth back. This study examines the current status of the electric car market in low- and middle-income developing nations like Bangladesh, focusing on the infrastructure and regulatory framework-related barriers and the aspects of growth promotion. To promote an expanding hybrid and EV ecosystem, this article outlines recent studies and identifies critical regions where support for policy and infrastructural developments is needed. It discusses how developing nations may adapt successful international practices to suit their specific needs. At the same time, the research adopted system dynamics and case study methods to assess the transportation fleet (142 vehicles) of a livestock farm and find the feasibility of adopting HEVs and EVs. Several instances are improving infrastructures for recharging, providing incentives for lowering the adoption process cost, and creating appropriate regulatory structures that promote corporate and consumer involvement. Findings highlight how crucial it is for governments, businesses, customers, and international bodies to collaborate to build an affordable and sustainable EV network. The investigation concludes with recommendations for more research and appropriate regulations that may accelerate the adoption of EVs, reduce their adverse impacts on the environment, and promote economic growth.