Would a Cash for Clunkers Program Speed Up Electric Vehicle Adoption?

06 May 2022 | Abstracted from Electrek

"New research from the MIT Sloan School of Management and the Penn State Smeal College of Business found...a Cash4Clunkers (C4C) program solely on people buying new EVs led to larger and more cost-effective emissions reductions...

"...the more EVs purchased, the faster the EV industry grows. EV costs are driven down through scale economies and learning; the variety of EV makes and models available are expanded; charging infrastructure deployment is sped up; and consumer familiarity with and willingness to buy EVs is boosted. This all in turn boosts EV sales."

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