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Page 4 of 22 Hao et al. Carbon Footprints 2024;3:15 https://dx.doi.org/10.20517/cf.2024.24

offering insights into the geographically diverse challenges of ELCV adoption. We provide an in-depth
examination of the economic implications of cold climate challenges on ELCV performance and adoption,
and evaluate the potential of various policy interventions and technological advancements to mitigate
adoption barriers, particularly in challenging climatic conditions. By synthesizing these factors, our research
offers valuable projections of ELCV market penetration trends, considering the interplay of economic,
technological, and policy factors. This multifaceted approach not only addresses the limitations of existing
models but also provides a comprehensive framework for understanding and promoting ELCV adoption
across diverse geographic and climatic contexts. Our findings have significant implications for
policymakers, industry stakeholders, and researchers working toward sustainable urban logistics solutions.
Table 1 summarizes the key contributions and limitations of existing cost calculation models, highlighting
the need for the PCO model.

METHODOLOGY AND MODELLING
Research scenario definition
Electric LDLVs encompass a diverse array of vehicles tailored for a multitude of applications and can be
differentiated under various classification criteria. This study categorizes electric LDLVs into three principal
types based on their energy sources: BEVs, PHEVs, and Hydrogen Electric Vehicles (HEVs). The research
focus is specifically on BEVs, which are commercial vehicles designed and intended for urban settings.
These vehicles are characterized by their compact size, lightweight construction, and efficient powertrain
systems. Over a typical service life of five years, BEVs are predominantly utilized for intra-urban freight
transportation and logistics distribution, highlighting their agility in maneuvering and their proficiency in
short-haul transport. Urban LDLVs are commonly recognized for their excellent fuel efficiency, stringent
emission standards, and substantial cargo capacity, aligning well with the demands of urban logistics. They
serve as a critical component in various sectors, including urban delivery, e-commerce logistics, food service
distribution, courier services, supply chain support for supermarkets and retail outlets, and cold chain
logistics. Comparative analysis is conducted with traditional logistics vehicles, exemplified by diesel-
powered light-duty trucks, as detailed in Table 2.

LDLV electrification: economic assessment
PCO model proposed in this paper encompasses the tangible vehicle costs that can be directly monetized, as
included in the traditional TCO model. These tangible costs include purchase price, energy costs,
maintenance costs, taxes, and insurance costs. Additionally, the model takes into account the intangible
costs incurred by users during the usage phase, which are defined in this paper as time costs. Both tangible
and intangible costs together constitute the economic costs of LDLVs, as detailed in Figure 1.

Tangible costs module
In this comprehensive study, the economic evaluation of electrified LDLVs reveals a nuanced picture of cost
dynamics that significantly impact the total cost of ownership. The analysis focuses on three primary cost
components: vehicle purchase cost, energy expenditure, and maintenance, each playing a crucial role in
determining the long-term economic viability of electric LDLVs. The initial purchase price of pure electric
LDLVs presents a notable financial hurdle, with these vehicles typically commanding a premium over their
conventional diesel counterparts. However, the implementation of strategic fiscal and tax policies has
substantially alleviated this barrier. These policy interventions have effectively reduced the upfront cost by
approximately 26,800 yuan, a significant decrease that narrows the price gap between electric and diesel
options. This reduction not only makes electric LDLVs more accessible to fleet operators but also shortens
the payback period for the initial investment. Over a five-year period with an annual mileage of 93,000 km,
the total energy cost for a pure electric logistics vehicle is projected to be 627,800 yuan, a substantial saving
of 250,700 yuan compared to diesel vehicles, which have a total energy cost of 878,500 yuan. Additionally,