In order to address challenges in the sustainable development of transportation, economy, and environment, governments along with conventional automobile manufacturers and consumers are extremely interested in the development of the electric vehicle (EV) manufacturing industry and market. However, many manufacturers are worried about entering the EV market because of some of the limitations of EVs and government economic policies. A framework for failure risk-based ranking of EV projects is proposed that applies the Analytic Hierarchy Process (AHP) as a method of ranking. The hierarchy structure of the AHP is created with the risk categories, risk factors, and EV project candidates at different levels of the decision. By specifying the failure risk categories and failure risk factors, the ranking of EV project failure risks and the EV projects are accomplished via the pairwise comparison in the AHP. The results from the ranking provide useful information for planning and decision making. In fact, the results of the proposed method make it possible to specify the EV projects that are feasible to carry out and to compare the various projects at the technical and economic level.
Failure risk-based ranking, EV projects, investment, multi-criteria decision making, Analytic Hierarchy Process (AHP)
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