New Energy Vehicle Industry In China Research Articles

Promoting the Development of China’s New-Energy Vehicle Industry in the Post-Subsidy Era: A Study Based on the Evolutionary Game Theory Method

Government policy constraints and the green credit support of banks have played an indispensable role in promoting the development of the new energy vehicle (NEV) industry. To study the relationship between the government, the banks, and automobile manufacturers in the post-subsidy era and to promote the development of the NEV industry in China, we constructed a tripartite evolutionary game model for the government, the banks, and automobile manufacturers during the subsidy decline, analyzed the evolutionary process of the system, and used MATLAB to simulate the evolutionary stable strategies (ESSs) and the sensitivity of related parameters. The results demonstrate the following: (1) There are five possible evolutionary equilibrium points in the early, middle, and late stages of the NEV industry; (2) with the increase in the phase-out rates and the transaction prices of NEV points, the government is more inclined to low subsidies, the banks are more inclined to implement green credit, and enterprises are more inclined to produce NEVs; (3) there is a threshold for the impact of government incentives on the evolutionary results of the government and the banks, beyond which the evolutionary process of the government and the banks will be unstable; (4) with the increase in financing costs saved by green credit, the government is more inclined to low subsidies and enterprises are more inclined to produce NEVs, while changes in financing costs have less impact on the strategies of banks. According to these findings, the government, the banks, and automobile manufacturers can be relied upon to promote the development of the NEV industry in China.

An Evolutionary Analysis of Higher-Order Interaction Collaborative Innovation Networks in China’s New Energy Vehicle Industry

As a manifestation of technological innovation achievements, patents reflect the frontier of technological development in the field. The aim of this research is to investigate the spatial evolution of patent collaboration networks and cooperation activities in the Chinese new energy vehicle (NEV) industry. We hypothesize that the higher-order collaboration networks will exhibit the formation of triangle groups centered around core nodes and the emergence of key edges indicating their importance. Key organizations and partners will play a significant role in shaping the future direction of cooperative innovation. The research utilizes data on collaboration patents in the NEV industry in China and constructs higher-order interaction collaboration innovation networks. The spatial evolution of networks and patent cooperation activities are examined using simplex methods. The results indicate that the generalized degree distribution of nodes and edges follows a power-law distribution. Two-dimensional simplex networks gradually form triangle clusters centered on core nodes and key edges. Large companies and research institutes prefer high-depth collaboration, while universities prefer high-breadth collaboration. Furthermore, the development of the new energy vehicle industry has gradually shifted from the eastern region to the central region. In the two-dimensional simplex network, Beijing and Jiangsu play a crucial role as key bridges in fostering stable and deep collaborations. The findings of this study shed light on the spatial evolution of patent collaboration networks and cooperation activities in the Chinese NEV industry. The identification of key organizations and partners, as well as the central positions of certain regions, provides valuable insights for innovation organizations in navigating innovation development and selecting collaboration partners.

Fuzzy dynamic MCDM method based on PRSRV for financial risk evaluation of new energy vehicle industry

The financial risk evaluation of new energy vehicle (NEV) industry is conducive to the popularization of NEVs, to encourage more investment into the NEV industry, and to promote the improvement of the risk control system. When evaluating the performance of NEV industry in China, it is usually full of uncertainty and dynamic. q-Rung orthopair fuzzy set (q-ROFS) has the characteristics of non-membership and membership with adjustable parameterization q, which is a very effective mathematical model to capture uncertainty. In this paper, the q-rung orthopair fuzzy (q-ROF) distance measure based triangle orthocenter is given. Then, q-ROF score function (SF) based distance measure is proposed for disposing of comparison issue. Moreover, we present nonlinear comprehensive weighting method by integrating subjective weight information and objective weight information (determining by water-filling theory). In order to solve the counter-intuitive phenomena and dynamic trend issue, the dynamic q-ROF aggregation operators are investigated and their properties are proved. Whereafter, q-ROF multi-criteria decision making (MCDM) approach based projection ranking by similarity to referencing vector (PRSRV) is proposed for evaluating financial risk of NEV industry, along with the sensitivity analysis. Finally, a comparison with some existing MCDM methods states that the presented method has strong data adaptability.

Measuring the Policy Effectiveness of China’s New-Energy Vehicle Industry and Its Differential Impact on Supply and Demand Markets

To promote the precise governance of China’s new-energy vehicle (NEV) industry, this paper quantitatively analyzes 204 policy texts on the NEV industry in China since 2007 and constructs an evaluation system of policy effectiveness from three dimensions of policy attributes, policy objectives, and policy measures to reveal the effectiveness and evolutionary trends of China’s NEV industry policies. In addition, this paper explores the two-way effects of different types of policy measures on the NEV supply and demand markets through an econometric model to reveal the differential impact effectiveness of various policy instruments in China’s NEV industry. The results indicate that China’s NEV industry has changed from “government-driven” to “government-driven + market-driven”, and the multi-sectoral policy coordination needs to be further improved; the dynamic evolution over the years reveals a similar pattern of change in the total effectiveness of policy issuance as influenced by the number of policies; the quantity of patents in China is large but the quality of patents is insufficient, and an overall problem of low level of core technology is being faced; taxation and subsidy measure, technical innovation measures, social guidance measures, and environmental support measures all effectively promote the development of the supply-side market, while taxation and subsidy measures, social guidance measures and legal regulation measures can better promote the development of the demand-side market; the impact of financial support measures on both supply and demand-side markets is not significant.

Policy Announcement, Investor Attention, and Stock Volatility: Evidence From the New Energy Vehicle Industry.

New energy vehicle (NEV) policies have greatly promoted the growth of the NEV industry in China, while also attracting a lot of investor attention. Using Chinese NEV concept stocks and related industrial policies, including purchase tax incentives (PTI) and promotion and application (P&A) policies, issued from 2011 to 2020 as the research setting, this paper adopts a panel data model to examine the impact of policy announcement on the volatility of NEV concept stocks, as well as the mediating role of investor attention in transmitting the impact. We find that NEV P&A policies have a significant and positive impact on NEV concept stock volatility, while PTI policies do not have a significant impact. Moreover, investor attention plays a partial mediating role in transmitting the impact of P&A policies on NEV stock market by increasing the stock volatility risk. Furthermore, there is heterogeneous effect of equity ownership in the relationship between policy announcement and investor attention on the volatility of NEV concept stocks; non-state-owned firms are more sensitive to the NEV P&A policies than state-owned firms. By analyzing the relationship between policy announcement and concept stock volatility, this paper enriches the research on NEV concept stocks and provides policy implications for the NEV industry.

Evaluation and analysis of new-energy vehicle industry policies in the context of technical innovation in China

Low-carbon economic development, information and communication technical innovation have been intensifying the pursuit of new-energy vehicles. This emerging sector has far-reaching implications for the country’s industrial competitiveness and for low-carbon transport. The industry, in turn, is affected by state policies, which need to be evaluated in quantitative terms to provide a scientific basis for formulating future policies. Eleven policies that govern the new-energy vehicle industry in China were evaluated quantitatively by using text mining, and a model of a policy modelling consistency (PMC) index was constructed to obtain the PMC index for each policy and to draw a PMC surface graph. Each policy was then evaluated on the basis of its PMC index; its shortcomings were identified by studying the multi-input/output table and the PMC index table; and ways to overcome the shortcomings through optimisation were suggested, namely (1) focusing on long-term planning, (2) offering greater specific and feasible incentives and subsidies and strengthening supervision to ensure that they are not misappropriated, and (3) gradually shifting the focus of policies away from normative guidance towards market-led mechanisms.

Policy evolution and effect evaluation of new-energy vehicle industry in China

As China is faced with the double dilemmas of environmental pollution and energy security, new-energy vehicles (NEVs) come with high expectations, which need to be guided by an “invisible hand”. To analyse the optimal functioning power of policies and determine the direction of future policy implementation, this paper utilizes the COPA framework (i.e., analysis from four dimensions of contents, outlook, power, and authorities) to analyse policy evolution in respect of the new-energy vehicle industry (NEVI). In addition, a quantitative table of policy power is designed to construct the policy effects in various periods. Furthermore, this paper employs threshold model and quantile regression model to explore the threshold effect of policy power on the policy implementation effects and the transformation of policy implementation effects at different development stages, respectively. The results are as follows. (1) The Chinese NEVI policy continues to attach importance to government-guided consumption and government-supported technical development, with the major issuing form still being “notices”. Although “moderate” industrial policies are adopted as the main policies, the issuance strength has been rising periodically, and the functioning strength has been maintaining a steady rise year by year. The non-definition of the competent authorities is one of the key factors that affect the development of the NEVI. (2) The policy power has a significant threshold effect on its functioning strength. When the policy strength exceeds the threshold value of 69, the effect of the policy will nearly double; thus, to promote the technological innovation of NEVs, it is necessary to formulate high-intensity policies. (3) The effect of industrial policy will differ greatly at different development stages. Along with the gradual formation of market orientation of the NEVI, the effect of industrial policies has weakened gradually. Properly reducing the subsidy of NEVs will achieve the optimal allocation of government resources.