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Cost benefit analysis for the development of hybrid electric vehicles
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Breddy, J. A., Jennings, P. A. (Paul A.), Carter, S., Picarelli, A., Walker, A., McGordon, Andrew and Vinsome, A. (2006) Cost benefit analysis for the development of hybrid electric vehicles. In: 22nd International Battery, Hybrid and Fuel Cell Electric Vehicle Symposium and Exposition, Yokohama, Japan, 23-28 Oct 2006 pp. 731-741.
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Abstract
The financial justification of the decision to purchase a hybrid vehicle in place of a conventional one is difficult given the generally overly simplistic approach that is typically adopted in the decision-making process. This paper brings together the large number of factors necessary to present a clear view of both the costs and benefits that should be taken into consideration when assessing the viability of hybrid vehicle developments and subsequent purchase. Elements are highlighted, such as, fuel savings, residual values, insurance costs and disposal costs, together with a detailed justification of the reasons for their inclusion. This enables the potential life cost differences for customers to be established. The associated costs for a vehicle manufacturer in the development of hybrid electric vehicles are considered. It is explained how the calculation of the potential savings a customer may make, identified through profiling a notional customer, can support forecasting the premium a customer may be prepared to pay to purchase the vehicle. This information can be used in the manufacturer's business case for the development of a hybrid electric vehicle.
Item Type: | Conference Item (Paper) | ||||
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Divisions: | Faculty of Science, Engineering and Medicine > Engineering > WMG (Formerly the Warwick Manufacturing Group) | ||||
Official Date: | 28 October 2006 | ||||
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Page Range: | pp. 731-741 | ||||
Status: | Peer Reviewed | ||||
Publication Status: | Published | ||||
Conference Paper Type: | Paper | ||||
Title of Event: | 22nd International Battery, Hybrid and Fuel Cell Electric Vehicle Symposium and Exposition | ||||
Type of Event: | Other | ||||
Location of Event: | Yokohama, Japan | ||||
Date(s) of Event: | 23-28 Oct 2006 | ||||
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