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  • The Influence of Government Policy on the Development of the Electric Vehicle Market in Russia and in Asia (China, Japan, Korea and Singapore)

The Influence of Government Policy on the Development of the Electric Vehicle Market in Russia and in Asia (China, Japan, Korea and Singapore)

Student: Azamat Abdrakhman

Supervisor: Igor A. Makarov

Faculty: Faculty of World Economy and International Affairs

Educational Programme: World Economy (Bachelor)

Year of Graduation: 2024

One of the goals of the national project of the Russian Federation "Ecology" is to reduce air pollution emissions. The main source of CO2 emissions is cars, in connection with which states began to actively introduce electric vehicles, the emissions of which are zero. Countries are actively introducing various government policies that stimulate the development of the electric vehicle market. Such policies include the development of charging infrastructure, subsidies to buyers and manufacturers, tax breaks. In this paper, the state policies of Russia and Asian countries (China, Japan, South Korea and Singapore) were analyzed, and the impact on the development of the electric vehicle market was assessed. To assess the development of the electric vehicle market in each country, indicators such as the number of hybrid and electric vehicles sold in 2019-2022, the growth of hybrid and electric vehicles in 2020-2022, and the share of sales of hybrid and electric vehicles from the total number of cars in 2023 were used. The results showed that countries with the most developed electric vehicle market, such as China, have government policies that compensate for the shortcomings of electric vehicles. Based on the measures of state policy of Asian countries, recommendations were proposed for Russia that would allow more active development of the electric vehicle market.

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