Abstract
There has been a rapid increase in government efforts to expand electric vehicle markets by deploying fast-charging stations, promoting uptake through greater investment, and by enacting supportive policies. Government support and private investment have contributed to the expansion of electric vehicles in many countries. The aim of this study is to highlight and analyze the most critical aspects of the expansion of the electric vehicle market, regarding technologies, characteristics, advantages and disadvantages, opportunities, and barriers in Europe. Our study analyzes the progress of electric vehicles by reviewing recent literature based on technology, policy, and government measurements. This study provides comprehensive information on electric vehicles and perspectives that are critical to policymakers, car manufacturers, consumers, and the community. To achieve favorable results, governments should invest in developing electric vehicles and battery technologies, provide subsidies, and develop charging infrastructure. Furthermore, by analyzing current EV sales in ten countries around the world, we assess the operating costs of electric vehicles. Overall EV cost of ownership is influenced by grid electricity price, cost of financing, location, carbon tax, wind speed, and solar insolation.