Study On The Impact Of Government Subsidies On The Performance Of New Energy Vehicle Enterprises

Carbon peaking and carbon neutrality are important goals of China’s 14 th Five-Year Plan,and forming an effective valve by controlling carbon emissions is an important measure to reduce energy consumption.At present,China’s clean energy consumption is relatively low,environmental pollution problems are still serious,oil dependence on foreign countries is high,and the active development of new energy can not only promote sustainable social and economic development,but also maintain China’s energy security strategic choice.Since 2012,China has actively promoted the strategy of pure electric drive and continuously promoted the large-scale and high-quality development of the new energy vehicle industry.In the early stage of industrial development,in order to cope with the high cost of research and development and the untapped market,the government introduced a series of financial support measures and gradually expanded the pilot cities.In recent years,in order to better promote the development of the new energy vehicle industry,the government has implemented a series of subsidy reduction policies to encourage industrial transformation and upgrading,and combined with the current complex market environment,constantly optimize the decline mechanism to achieve a more reasonable resource allocation.The subsidies given by government departments to the new energy vehicle industry have provided a strong impetus for the development of new energy vehicle enterprises.Government subsidies can not only promote enterprises to increase investment in research and development,but also promote their effective allocation of funds,which directly affects the financial status of enterprises.However,with the gradual reduction of government subsidies,new energy vehicle companies are facing the challenge of shifting from government-led to market-led.Therefore,it is particularly important for enterprises to get rid of the high dependence on government subsidies,enhance their core competitiveness through technological innovation,gain market favor and achieve independent profits.In addition,by analyzing the impact of subsidy policy changes in the new energy vehicle industry on enterprise performance,and taking BYD with a large number of new energy vehicle production and large subsidy recipients as the research object,it can help the government recognize the effectiveness of the operation of the existing subsidy policy and improve the future application of government subsidies in this industry and other high-tech industries-how to provide corresponding government subsidies at the right time and in a way to guide the healthy growth of enterprises and enhance their core competitiveness.However,it will not make it over-dependent and lose its independent profitability and ability to continue operating.This paper finds that in terms of financial performance,the impact of government subsidies on BYD is relatively direct and short-term,and does not fundamentally promote the improvement of profitability and solvency.In terms of innovation performance,government subsidies have obvious effects on R&D investment intensity and output results.In terms of investment performance,excessive government subsidies in the current period may more likely lead to excessive investment behavior.On the basis of the full-text analysis,corresponding suggestions are put forward for the use of government subsidies by the government and the use of government subsidies by new energy vehicle enterprises: 1.The government should reasonably determine the subsidy targets,improve the form of subsidies,adhere to market orientation,and strengthen capital supervision;2.New energy vehicle companies should increase investment in research and development,improve vehicle performance,get rid of policy dependence,and achieve independent profits.