World Experience of State Stimulation of Demand for Electric Vehicles

The electrification of transportation has become one of the main global trends in automotive industry development.The growing attention to electric transportation technologies is primarily due to stricter environmental regulations.Electric motors can reduce air pollution, making them a potential alternative to internal combustion engines (ICE).Despite the impressive growth of the electric vehicle fleet, various countries are taking additional measures to stimulate demand for electric vehicles.Purpose.The purpose of the article is to analyze the world experience of government stimulation of demand for electric vehicles.The article analyzes the key areas of incentive measures for consumers, allowing to achieve optimal results based on the generalization of the best practices of the world experience of popularization of electric vehicles.Results.Government incentives, such as subsidies, purchase benefits, and operational preferences, as well as restrictive measures for cars with internal combustion engines (ICE), significantly support the growth of demand for electric vehicles worldwide.An analysis of the demand for electric vehicles in various countries confirmed that most people who doubt the advisability of switching to electric transportation change their minds when direct and indirect financial measures are introduced by the state, primarily direct subsidies for purchasing electric vehicles.This measure effectively stimulates demand for electric vehicles in all national markets.Additionally, direct financing is easier to control since the distribution of funds is more transparent than indirect stimulation.Subsequently, direct financing can be reduced while maintaining indirect measures, such as exemption from transportation taxes and free travel on toll roads.Conclusions.Thus, the growth of the electric vehicle market does not ensure increased demand for this mode of transportation among the population.Financial and non-financial incentive measures are important since the technology is still developing and there are many misconceptions about its effectiveness.Although the development of the electric vehicle market has been motivated by the "green" agenda, especially in EU countries, the environmental factor does not yet play a significant role for buyers in other countries and regions, including those planning to buy an electric vehicle and those doubting its feasibility.