The synergy between electric vehicle and electricity generation mix: A path to sustainable transportation

The integration of clean energy in the power sector and electric vehicles (EVs) in the transportation sector can reduce CO2 emissions. This study, thus, seeks to examine the effects of various renewable and non-renewable sources on the proliferation of EV sales. The paper does empirical analysis using a panel dataset that includes 29 economies spanning from 2011 to 2021. The study employs panel-ARDL, fixed effect, and panel quantile regression (PQR) methods. The findings reveal that the EV sales are influenced by the mix of electricity generation. Fossil fuel-derived electricity has an adverse effect on EV sales, whereas green energy sources have a positive impact on EV growth. Further, the sales of EVs are adversely impacted by carbon emissions from the power generation. Additional cointegration test results show a long-term association between the variables. The findings highlight the relevance of renewable energy in boosting EV sales, providing valuable insights for policymakers and manufacturers.