EV-sharing station location and vehicle relocation with parking rewards and punishments mechanism

EV-sharing has played a more and more important role in the traffic modes of the resident. The vehicle relocation cost takes up a great proportion of the total operation cost. To reduce the vehicle relocation operations between the EV-sharing stations, the parking rewards and punishments mechanism along with the deployment of social parking lots is designed. Under this mechanism, a model for EV-sharing station location and vehicle relocation is developed. Then, the model is applied to a real-world problem with available data from WuHan, China. Numerical experiments reveal that the mechanism makes the vehicle relocation cost and station construction cost decrease by 77.99% and 21.05% respectively, as well as the demand fill rate and the profit increase by 142.72% and 15.94% respectively.