The Electric Vehicle Alternative

This thesis discusses three basic concepts of economic analysis: the time value of money, life cycle cost, and reliability theory. Using these concepts, a method of economic analysis is developed to be used in evaluating the possible replacement of internal combustion engine (ICE) vehicles with electric vehicles (EVs). This methodology is then demonstrated by comparing two possible alternatives for replacement of the existing fleet of pickup trucks assigned to the 4950th Test Wing Aircraft Maintenance Complex at Wright-Patterson AFB, Ohio. One alternative is to replace the existing pickup fleet with new ICE pickups, the other is to replace the existing fleet with EVs. In this research effort the ICE pickup fleet is found to be the low cost alternative. Recommendations for further research and additional considerations are provided to the reader. This thesis contains an extensive bibliography on EV technology and principles of economic analysis. (Author)