Analysis of New Energy Vehicle Enterprises' Technological Innovation Behavior Based on China's Dual-credit Policy

Abstract

Abstract: The dual-credit policy implemented by the Chinese government has had a significant impact on the new energy vehicle industry. In order to study corporate-related innovation practices of new energy vehicles, the quantities of patent applications and research and development (R&D) investment are used as the measure of enterprise technological innovation practices, based on the 2009-2019 public enterprise data in the new energy vehicle industry. Also, the benchmark model is deployed to test the specific implementation effect of the dual-credit policy. The findings show that the dual-credit policy has promoted corporate R&D investment to a certain extent and stimulated corporate innovation, whereas what is more manifest is that there is a significant increase in non-patentable inventions. Additionally, the pursuit of innovation quantity is greater than that of innovation quality. Various industrial links of industrial chains in new energy vehicles have a certain degree of heterogeneity in innovation, and the intensity of R&D investment in the field of power batteries and electric motor control is significantly higher than that in the field of complete vehicles. In terms of policy recommendations, further refinement can be made according to the difficulty, depth, and potential value of the enterprises' innovative practices. With regard to high-tech R&D projects, especially the upstream power battery and motor electronic control fields of new energy vehicle industrial chains, increased early support is supposed to promote enterprises' substantial innovation. As regards low-fuel-consumption vehicles, the government should request and encourage the fuel vehicle companies to further upgrade the corresponding technology to reduce fuel consumption continuously. Also, certain discounts can be offered when new energy vehicle points are calculated against the standard value.

Key words: new energy vehicles, dual-credit policy, technological innovation, patent activities

Rao Yibang, Shu Tong. Analysis of New Energy Vehicle Enterprises' Technological Innovation Behavior Based on China's Dual-credit Policy[J]. Management Review, 2023, 35(7): 74-85,111.

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