CRITIC Method and Grey System Theory in the Study of Global Electric Cars

Abstract

Science and technology development is a crucial for the elimination of air pollutants. The electric car industry, for example, contributes to minimizing emissions and climate change. The purpose of this study is to present an overview of electric car sales and its market share in 14 countries, from past to future, by integrating important criteria through the inter-criteria correlation (CRITIC) method in multi-criteria decision-making (MCDM), grey model first-order one variables (GM(1,1)), and grey relation analysis (GRA) method in grey system theory. First, the GM(1,1) estimates future terms based on historical time-series. Second, the objective weights of each variable, in every year, are determined by the CRITIC method. Finally, the research uses the GRA method for computing grades and ranks. The empirical result then reveals the performance and rank of electric car sales during the time period of 2016–2023. The analysis results thus reveal market share picture and direction of growth in the electric car industry.

Keywords

• electric car
• CRITIC method
• multi criteria decision making (MCDM)
• grey model first-order one variables (GM(1,1))
• grey relation analysis (GRA)
• grey system theory