Supply-Demand Balancing Model for EV Rental Fleet

Contemporary EV rental systems generally have a limited control over the distribution of their fleet. This leads to a sub-optimal level of fleet utilization due to the supply-demand mismatch both spatially and temporally. A detailed mathematical model that approximates a real-world car-rental system...

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Bibliographic Details
Published in2022 IEEE 25th International Conference on Intelligent Transportation Systems (ITSC) pp. 1350 - 1355
Main Authors Brar, Avalpreet Singh, Kasture, Prafull, Su, Rong
Format Conference Proceeding
LanguageEnglish
Published IEEE 08.10.2022
Subjects
Automobiles
Intelligent transportation systems
Mathematical models
Quality of service
Vehicle dynamics
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Summary:Contemporary EV rental systems generally have a limited control over the distribution of their fleet. This leads to a sub-optimal level of fleet utilization due to the supply-demand mismatch both spatially and temporally. A detailed mathematical model that approximates a real-world car-rental system can help us in understanding the dynamics of the system and quantify the operational inefficiencies that exist in it. This model can be used to build solutions to improve the quality-of-service and enhance car-rental company's revenue. In this paper we have presented a detailed mathematical model to study the supply-demand dynamics of a car rental system. We have also compared the contemporary car-rental model with an improved multi-objective car-rental model. The proposed model is a unified framework that incorporates vehicle scheduling, rebalancing and optimized charging to improve the operational performance. It was shown that the proposed model can serve upto 47% higher demands with 58% lower average waiting time, 45% lower average SoC level by charging the fleet 56% lesser than the contemporary car-rental models.
DOI:10.1109/ITSC55140.2022.9921775