Commercialization of four-wheeler electric vehicles charging station in Bangladesh: challenges and opportunities

Abstract

There are several potential and difficulties associated with the commercialization of electric vehicles (EVs), especially in developing nations like Bangladesh. This study examines Bangladesh's present EV technology commercialization situation, highlighting significant obstacles and prospects. Using a case study of an electric charging station in Dhaka city. Electric vehicles (EVs) are pulling momentum in this age of global warming due to their environmentally friendly nature. This technology has potential, and challenges associated with commercialization, especially in Bangladesh. This study examines the present situation of Bangladesh's EV technology and market along with the challenges and opportunities of commercialization of this niche market. The study uses qualitative data from secondary sources like various reports, policy guidelines, market data, etc., and four case studies of EV dealers and Charging station companies. The theoretical base was a combination of the 7p model and the goldsmith business model for commercialization. As the market is still in its niche phase the study carefully observed the potential future action for commercialization. It was found that EVs have a potential future market due to the manufacturer of cars shifting to EVs. However, the challenge remains in accommodating vehicles with proper infrastructure (charging stations). To tackle this shift, it is high time to develop EV charging infrastructures to be installed for a smooth transition. The major challenges for this include financial barriers, energy supply, and policy gaps. The opportunities are environmental betterment, technological advancement, and potential for the local market. For commercializing the EV sector competitive prices with traditional fuel-driven cars are necessary along with awareness of the economic and environmental benefits of proper planning. The study recommended that there is a need to spread accurate knowledge among the end users for the adoption of EVs and policymakers and industry stakeholders’ recommendations to support the development of Bangladesh's EV sector.