Assessing the Socioeconomic Impacts of Intelligent Connected Vehicles in China: A Cost–Benefit Analysis

Abstract

The deployment of intelligent connected vehicles (ICVs) is regarded as a significant solution to improve road safety, transportation management, and energy efficiency. This study assessed the safety, traffic, environmental, and industrial economic benefits of ICV deployment in China under different scenarios. A bottom-up model was established to deal with these impacts within a unified framework, based on the existing theories and literature of ICVs’ cost–benefit analysis, as well as China’s most recent policies and statistics. The results indicate that the total benefits may reach 13.25 to 24.02 trillion renminbi (RMB) in 2050, while a cumulative benefit–cost ratio of 1.15 to 3.06 suggests high cost-effectiveness. However, if the government and industry only focus on their own interests, the break-even point may be delayed by several years. Hence, an effective business model is necessary to enhance public–private cooperation in ICV implementation. Meanwhile, the savings of travel time costs and fleet labor costs play an important part in all socioeconomic impacts. Therefore, the future design of ICVs should pay more attention to the utilization of in-vehicle time and the real substitution for human drivers.

The Innovation Effect of Intelligent Connected Vehicle Policies in China

“…Some authors have performed a systematic basic analysis of ICV industrial policies and regulations to provide future suggestions for development [7]- [9]. Kuang et al [10] assessed the socioeconomic impacts of ICV in China by using a cost-benefit analysis. In addition, some scholars have focused their study interests on policy performance evaluation in the new energy vehicle industry.…”

An Indoor Vehicle-in-the-Loop Simulation Platform Testing Method for Autonomous Emergency Braking

“…erefore, the development of AV has become an ideal way to reduce road traffic accidents and improve traffic safety [17,18]. Although AVs have many advantages, several recent accidents have slowed down their process of commercialization.…”

Sustainable improvement and evaluation of the shifting smoothness of vehicle transmission

“…An overview of the energy-saving technology routes of European Union and Japan, combined with the basis and characteristics of China's energy-saving technology, helps us have an overall concept. That is, the high-efficiency powertrain technology and lightweight vehicles should be the key development directions of China's energy-saving technology in the near future 5 – 7 . Among them, the high-efficiency powertrain technology is widely regarded as the most important and effective way to improve the fuel economy of vehicles, which is mainly due to the loss of more than 72% of the energy generated by vehicle fuel combustion through the exhaust, heat transfer and mechanical friction of the powertrain 8 .…”