A Mathematical Model-Based Integrated Decision-Making Approach for Lithium Battery Manufacturers Evaluation

Abstract

Today, the transportation industry contributes significantly to greenhouse gas emissions-roughly 23% of worldwide emissions. Battery electric vehicles (BEVs) are a viable technical option since they have the ability to drastically cut emissions (e.g., up to 70% compared to gasoline automobiles). Lithium-ion batteries, the fundamental component of BEVs, are essential to the efficiency and performance of the vehicle. Nevertheless, it might be difficult to make the best decision given the wide range of battery producers. In order to close this gap, eleven of the top producers of lithium batteries (e.g., Tesla, Ford and Toyota) were assessed for their 2019–2021 performance. We evaluate battery performance using both the Ordinal Priority Approach (OPA) and Malmquist productivity index (MPI). According to the results, Ford, BMW, and Tesla had the greatest average MPI efficiency. Conversely, Toyota, Hyundai, and Mercedes-Benz secured the highest positions among lithium-battery manufacturers in the OPA rankings. Through the use of these methodologies, we aim to provide comparative rankings that will eventually help promote sustainable mobility by giving decision-makers, investors, consumers and other stakeholders an overview for well-informed battery selections.

Keywords

• Ordinal priority approach
• lithium battery
• decision-making
• Malmquist
• data envelopment analysis