Research On The Impact Of Government Subsidies On Capacity Investment And Financial Performance Of New Energy Vehicle Enterprises

With the increasing attention to environmental protection,new energy vehicles have gradually entered people's field of vision.The state attaches great importance to the development of new energy vehicles and raises the development of new energy vehicles to the height of national strategy.In order to promote the transformation of the domestic automotive industry,the government has been guiding enterprises and resource allocation at a macro level.The new energy vehicle market has been dominated by the government,and the government subsidy is the main means for the state to regulate the new energy vehicle market resources and guide the industrial development.From a huge subsidy to subsidy deduction,the subsidy policy has effectively increased China's new energy vehicle sales in the short term.However,from the perspective of the industry as a whole,the effects of government subsidies on the regulation and control of new energy markets and the guidance of auto companies' transformation have been mixed.Some companies actively use government subsidies and their guidance to invest to expand production capacity and scale,and improve technology.And some enterprises rely too much on government subsidies,disrupt market order through "scams","rent-seeking" and other behaviors,and also disrupt business investment and research and development strategies,which is not good for the company itself Impact,or even bankruptcy.Based on the above research status,the core question of this article is: Research on the Impact of Government Subsidies on Capacity Investment and Financial Performance of New Energy Vehicle Enterprises: Example of BYD Company.The research ideas of this article are: First,summarize the policies of government subsidies for new energy vehicles and analyze the impact of government subsidies on the capacity investment and financial performance of the company;second,analyze the impact of government subsidies on BYD's capacity investment scale and capacity investment behavior.;Finally,analyze the investment effect and investment efficiency brought by BYD capacity investment,and clarify the impact of capacity investment under the guidance of government subsidies on the financial performance of the company.In view of the above research issues,this article selects BYD as a case to draw the conclusion that government subsidies have a guiding effect on corporate capacity investment and have an impact on corporate financial performance: first,government subsidies affect capacity investment in new energy automobile companies;second,government Subsidies improve the financial performance of enterprises in the short term.Third,double risk due to leveraged capacity investment and market instability.The significance of this study lies in: First,this article summarizes the changes in government subsidy policies for the domestic new energy vehicle industry,and sorts out the contribution of government subsidies to the profits of listed companies in new energy vehicles.Second,analysis the impact on government subsidies and capacity investment for typical enterprises and of financial performance can help companies make reasonable use of government subsidies,and prompt the government to provide reasonable and accurate subsidies to enterprises.