A virtual synchronous generator (VSG) is prone to transient instability under a grid fault, which leads to the loss of synchronization between the new energy converter and grid, and threatens the operation safety of high-proportion new energy grids. There are a variety of control models in the existing VSG control, including active and reactive power models, which lead to their different transient stabilities. However, the evolution characteristics, correlation between different models of VSG, and the internal mechanism affecting transient stability have not been fully studied. To this effect, this paper analyzes their evolution characteristics based on the existing mainstream VSG control models and establishes a unified VSG model and its equivalent correspondence with other models. Then, the phase plane method is used to comprehensively analyze and compare the transient stability of the VSG unified model with other models. It is pointed out that the key factors affecting the transient stability of different models are three links of primary frequency regulation, reactive power regulation and reactive power tracking. Finally, the correctness of the established VSG unified model and the conclusion of transient stability analysis is verified by experiments.