Trajectory Of Development in China's New Energy Vehicle Industry Through Data Analysis and Expectation

Abstract

Amidst a global shift towards sustainable transportation, this study conducts an in-depth analysis of data about China's new energy vehicle (NEV) sector from 2013 to 2022. This research primarily evaluates the standards and key factors influencing the NEV industry's evolution. Spearman correlation and decision tree models indicate that the average price of new energy vehicles and the government subsidies for them have the most significant impact on the development of the new energy industry in China. Expanding on these insights, a robust LASSO linear regression model was developed to further explore these dynamics. Additionally, an ARIMA time series model was employed, leveraging historical data to forecast the factors likely to influence the NEV industry in the coming decade. Integrating these forecasts into the initial evaluation model, the study anticipates a positive growth trajectory for China's NEV development, especially between 2023 and 2025. This research not only sheds light on the current state of the NEV industry in China but also provides valuable predictions for its future direction, contributing to the broader understanding of sustainable vehicle evolution in the global context.