“…The factors impacting the market shares of this alternative advanced technology are retail price equivalent (RPE), energy cost per kilometer, range (kilometers between refuel/recharge events), maintenance cost (annual), fuel availability, range limitation for battery electric vehicles (BEVs), public recharging availability, risk aversion, and diversity of make and model options available [20]. The principal factors affecting EV technology development relate to reliability, durability, efficiency, voltage losses, the current generation, power generation, and energy generation [21]. Reliability is defined as the ability of a product to perform the required function under stated conditions for a certain period of time [22].…”