TY - GEN
T1 - Estimating the Total Cost of Ownership (TCO) of Electrified Vehicle in Indonesia
AU - Riyanto, Riyanto
AU - Riyadi, Setya Agung
AU - Nuryakin, Chaikal
AU - Gerald Massie, Natanael Waraney
PY - 2019/11
Y1 - 2019/11
N2 - With the Electrified Vehicles (EVs) ventures being in the early stage, the cost-benefit analysis of the vehicles is key towards capturing the Indonesian market. As consumers, however, pricing may not only be the costs they consider; they also consider the total cost of ownership (TCO) of the cars they purchase. With that regard, this study discusses the total cost of ownership (TCO) of the EV in the Indonesian context, including calculations for HEV (Hybrid Electric Vehicle), PHEV (Plug-in Hybrid Electric Vehicle), and BEV (Battery Electric Vehicle), as well as Internal Combustion Engine (ICE) vehicles for comparisons. Specifically, this study aims to: (i) identify the monetary factors which affects total cost of ownership (TCO) of electric and conventional cars in Indonesia, (ii) construct a TCO model and calculate the value of total cost of ownership of electric and conventional cars in Indonesia, and (iii) compare the value of total cost of ownership of electric and conventional cars in Indonesia related to the relevant switching cost between EVs and ICE. Our findings suggest that generally, in Indonesia, higher usage and/or length of ownership of EVs lead to more competitive TCO compared to ICE. We also explore a comprehensive number of scenarios (e.g., total annual mileage, years of ownership, price, fuel prices, and cost incentives) in which the TCO of EV maximizes Indonesian consumer welfare.
AB - With the Electrified Vehicles (EVs) ventures being in the early stage, the cost-benefit analysis of the vehicles is key towards capturing the Indonesian market. As consumers, however, pricing may not only be the costs they consider; they also consider the total cost of ownership (TCO) of the cars they purchase. With that regard, this study discusses the total cost of ownership (TCO) of the EV in the Indonesian context, including calculations for HEV (Hybrid Electric Vehicle), PHEV (Plug-in Hybrid Electric Vehicle), and BEV (Battery Electric Vehicle), as well as Internal Combustion Engine (ICE) vehicles for comparisons. Specifically, this study aims to: (i) identify the monetary factors which affects total cost of ownership (TCO) of electric and conventional cars in Indonesia, (ii) construct a TCO model and calculate the value of total cost of ownership of electric and conventional cars in Indonesia, and (iii) compare the value of total cost of ownership of electric and conventional cars in Indonesia related to the relevant switching cost between EVs and ICE. Our findings suggest that generally, in Indonesia, higher usage and/or length of ownership of EVs lead to more competitive TCO compared to ICE. We also explore a comprehensive number of scenarios (e.g., total annual mileage, years of ownership, price, fuel prices, and cost incentives) in which the TCO of EV maximizes Indonesian consumer welfare.
KW - electrified vehicle
KW - incentives
KW - Indonesia
KW - total cost of ownership
UR - http://www.scopus.com/inward/record.url?scp=85081130588&partnerID=8YFLogxK
U2 - 10.1109/ICEVT48285.2019.8994030
DO - 10.1109/ICEVT48285.2019.8994030
M3 - Conference contribution
T3 - ICEVT 2019 - Proceeding: 6th International Conference on Electric Vehicular Technology 2019
SP - 88
EP - 99
BT - ICEVT 2019 - Proceeding
PB - Institute of Electrical and Electronics Engineers Inc.
T2 - 6th International Conference on Electric Vehicular Technology, ICEVT 2019
Y2 - 18 November 2019 through 21 November 2019
ER -