The parallel corporate average fuel consumption(CAFC)and new energy vehicle(NEV)credit schemes that have been introduced by the Ministry of Industry and Information Technology of China is an innovative attempt to simu...The parallel corporate average fuel consumption(CAFC)and new energy vehicle(NEV)credit schemes that have been introduced by the Ministry of Industry and Information Technology of China is an innovative attempt to simultaneously regulate conventional gasoline vehicles(CGVs)and NEVs in the passenger vehicle sector that is expected to function as a long-term management mechanism for CGVs to be more energy-efficient and NEVs to be well-promoted.This will have a significant impact on trends in China’s automotive industry and automakers’business decisions.Taking the cases of four typical automakers with different levels of average fuel economy in their CGVs and advanced NEV production,scenario analysis has been applied to generate these automakers’alternatives in relation to compliance with the dual-credit regulations in force from 2017 to 2020 based on the Interim Measures on the Joint Management of CAFC and NEV Credits(Draft).These automakers’alternative approaches to compliance are compared.Further,in view of the financial losses as a result of halted production if they fail to comply,the values of CAFC and NEV credits and corresponding influencing factors are analyzed from the automakers’perspective.Finally,the most cost-effective compliance strategies for these automakers are summarized and suggested improvements in the regulations are proposed for the government.展开更多
The development of the new energy vehicle industry has become a key force driving the goals of carbon peak and carbon neutralization.To better guide future strategies,this study investigates the dual impact of subsidy...The development of the new energy vehicle industry has become a key force driving the goals of carbon peak and carbon neutralization.To better guide future strategies,this study investigates the dual impact of subsidy and dual-integral policies on the performance of new energy vehicle enterprises.This study first theorizes the influential mechanism according to the institutional-based approach and technical innovation theory,and then collects data from listed companies in the new energy vehicle industry from 2016 to 2020.The hypotheses are examined using a two-way fixed-effects model.The findings show that:(1)subsidy policies are can still improve enterprise performance,but not through green technology innovation;(2)the dual-credit policy can improve enterprise performance through green technology innovation;and(3)under current policy conditions,with subsidies declining annually,the interaction effects between the subsidy and dual-integral policies will also decrease.Thus,this study suggests that non-monetary industrial policy,represented by the dual credit policy is a more effective alternative to government subsidies.展开更多
Based on the evolutionary game approach,this paper analyzes how the automaker makes rational production decisions under the influence of the government and consumers.A tripartite evolutionary game model of“government...Based on the evolutionary game approach,this paper analyzes how the automaker makes rational production decisions under the influence of the government and consumers.A tripartite evolutionary game model of“government-automaker-consumer”is established to explore the interactions under the condition of bounded rationality.The study shows that:1)The increase of credit price and credit ratio will promote the diffusion of new energy vehicles(NEVs).2)The cost premium of NEVs and the shrinking market will slow the spread of NEVs to some extent but will not prevent NEVs from becoming a trend in the automobile industry.However,the cost premium of fuel vehicles(FVs)will accelerate the development of the NEV industry.3)Government subsidies can promote the development of NEV industry to some extent,but they are not always effective.The government can simultaneously implement subsidies for automakers and consumers in the early stages,and choose to implement the subsidy only for consumers in the medium term.Additionally,there is no need to implement the subsidy policy at a later stage.展开更多
In this paper,a production and pricing decision model for automakers under the dual-credit policy is formulated.Then,with consideration of demand and credit price disruptions,a nonlinear programming model that maximiz...In this paper,a production and pricing decision model for automakers under the dual-credit policy is formulated.Then,with consideration of demand and credit price disruptions,a nonlinear programming model that maximizes automakers’profit and constrains the production of fuel vehicles(FVs)and new energy vehicles(NEVs)is investigated.Furthermore,four strategies that involve adjusting the production or price of FVs and NEVs are proposed,and four optimal solutions for each strategy are obtained.Finally,16 scenarios are comprehensively analyzed,and a case study involving demand and credit price disruptions is conducted.The results show that the dual-credit policy has a positive impact on the development of NEVs,especially in early stages of NEV development.The FV credit coefficient has a significantly positive impact on the probability of automakers adopting adjustment strategies,while the NEV credit coefficient has almost no such impact.Moreover,automakers are inclined to adjust the prices of NEVs or the production of FVs to cope with demand and credit price disruptions.展开更多
基金This study is sponsored by the Natural Science Foundation of Beijing(9162008)Ministry of Science and Technol-ogy of China(ZLY2015017).
文摘The parallel corporate average fuel consumption(CAFC)and new energy vehicle(NEV)credit schemes that have been introduced by the Ministry of Industry and Information Technology of China is an innovative attempt to simultaneously regulate conventional gasoline vehicles(CGVs)and NEVs in the passenger vehicle sector that is expected to function as a long-term management mechanism for CGVs to be more energy-efficient and NEVs to be well-promoted.This will have a significant impact on trends in China’s automotive industry and automakers’business decisions.Taking the cases of four typical automakers with different levels of average fuel economy in their CGVs and advanced NEV production,scenario analysis has been applied to generate these automakers’alternatives in relation to compliance with the dual-credit regulations in force from 2017 to 2020 based on the Interim Measures on the Joint Management of CAFC and NEV Credits(Draft).These automakers’alternative approaches to compliance are compared.Further,in view of the financial losses as a result of halted production if they fail to comply,the values of CAFC and NEV credits and corresponding influencing factors are analyzed from the automakers’perspective.Finally,the most cost-effective compliance strategies for these automakers are summarized and suggested improvements in the regulations are proposed for the government.
基金This research is supported by the National Natural Science Foundation of China[Grant number.71801190].
文摘The development of the new energy vehicle industry has become a key force driving the goals of carbon peak and carbon neutralization.To better guide future strategies,this study investigates the dual impact of subsidy and dual-integral policies on the performance of new energy vehicle enterprises.This study first theorizes the influential mechanism according to the institutional-based approach and technical innovation theory,and then collects data from listed companies in the new energy vehicle industry from 2016 to 2020.The hypotheses are examined using a two-way fixed-effects model.The findings show that:(1)subsidy policies are can still improve enterprise performance,but not through green technology innovation;(2)the dual-credit policy can improve enterprise performance through green technology innovation;and(3)under current policy conditions,with subsidies declining annually,the interaction effects between the subsidy and dual-integral policies will also decrease.Thus,this study suggests that non-monetary industrial policy,represented by the dual credit policy is a more effective alternative to government subsidies.
基金supported by the National Natural Science Foundation of China under Grant Nos.71702112,72204001 and 71971049the Social Science Planning Fund of Liaoning Province under Grant No.L19CGL008The Economic and Social Development Project of Liaoning Province under Grant 2022lslybkt-027.
文摘Based on the evolutionary game approach,this paper analyzes how the automaker makes rational production decisions under the influence of the government and consumers.A tripartite evolutionary game model of“government-automaker-consumer”is established to explore the interactions under the condition of bounded rationality.The study shows that:1)The increase of credit price and credit ratio will promote the diffusion of new energy vehicles(NEVs).2)The cost premium of NEVs and the shrinking market will slow the spread of NEVs to some extent but will not prevent NEVs from becoming a trend in the automobile industry.However,the cost premium of fuel vehicles(FVs)will accelerate the development of the NEV industry.3)Government subsidies can promote the development of NEV industry to some extent,but they are not always effective.The government can simultaneously implement subsidies for automakers and consumers in the early stages,and choose to implement the subsidy only for consumers in the medium term.Additionally,there is no need to implement the subsidy policy at a later stage.
基金supported by the National Natural Science Foundation of China(Nos.71904018,72032001,71972071)a project funded by the China Postdoctoral Science Foundation(No.2020M681212)the Fundamental Research Funds for the Central Universities。
文摘In this paper,a production and pricing decision model for automakers under the dual-credit policy is formulated.Then,with consideration of demand and credit price disruptions,a nonlinear programming model that maximizes automakers’profit and constrains the production of fuel vehicles(FVs)and new energy vehicles(NEVs)is investigated.Furthermore,four strategies that involve adjusting the production or price of FVs and NEVs are proposed,and four optimal solutions for each strategy are obtained.Finally,16 scenarios are comprehensively analyzed,and a case study involving demand and credit price disruptions is conducted.The results show that the dual-credit policy has a positive impact on the development of NEVs,especially in early stages of NEV development.The FV credit coefficient has a significantly positive impact on the probability of automakers adopting adjustment strategies,while the NEV credit coefficient has almost no such impact.Moreover,automakers are inclined to adjust the prices of NEVs or the production of FVs to cope with demand and credit price disruptions.
