Policy evaluation of electric vehicle promotion in China and Europe

Abstract

In order to meet the goals for carbon neutrality, China and Europe are both adopting a variety of strategies to encourage electric vehicles as an alternative to gasoline vehicles. However, government incentives have changed in 2022, and the factors influencing the expansion of the electric vehicle market have changed. This paper provides a comparative analysis of European and Chinese policies on the promotion of electric vehicles over the last decade and makes predictions and recommendations for future developments based on the current market situation. Although the market for electric vehicles in China and Europe is slow to expand in the short term, in the long term, the market for these vehicles, which are very beneficial in reducing carbon emissions, will continue to expand. This paper hopes to provide a state-of-the-art understanding of the policies regarding the promotion of renewable energy cars, thus facilitating the worldwide goals of achieving carbon neutrality.