The impact of market-incentive environmental regulation on the development of the new energy vehicle industry: a quasi-natural experiment based on China's dual-credit policy

2021 ◽  
Author(s):  
Feng Dong ◽  
Lu Zheng
Keyword(s):  
Environmental Regulation ◽  
Natural Experiment ◽  
Dual Credit ◽  
Credit Policy ◽  
New Energy ◽  
New Energy Vehicle ◽  
The Impact

scholarly journals Greenhouse gas consequences of the China dual credit policy

2020 ◽  
Vol 11 (1) ◽  
Author(s):  
Xin He ◽  
Shiqi Ou ◽  
Yu Gan ◽  
Zifeng Lu ◽  
Steven Victor Przesmitzki ◽  
...  
Keyword(s):  
Greenhouse Gas ◽  
Internal Combustion Engines ◽  
Dual Credit ◽  
Ghg Emissions ◽  
Passenger Vehicle ◽  
Credit Policy ◽  
Modeling Framework ◽  
New Energy ◽  
Vehicle Fleet ◽  
New Energy Vehicle

Abstract For over ten years, China has been the largest vehicle market in the world. In order to address energy security and air quality concerns, China issued the Dual Credit policy to improve vehicle efficiency and accelerate New Energy Vehicle adoption. In this paper, a market-penetration model is combined with a vehicle fleet model to assess implications on greenhouse gas (GHG) emissions and energy demand. Here we use this integrated modeling framework to study several scenarios, including hypothetical policy tweaks, oil price, battery cost and charging infrastructure for the Chinese passenger vehicle fleet. The model shows that the total GHGs of the Chinese passenger vehicle fleet are expected to peak in 2032 under the Dual Credit policy. A significant reduction in GHG emissions is possible if more efficient internal combustion engines continue to be part of the technology mix in the short term with more New Energy Vehicle penetration in the long term.

scholarly journals Production Forecast of China’s New Energy Passenger Vehicles in 2021–2023 under the Compliance of Dual-Credit Policy

2021 ◽  
Vol 12 (3) ◽  
pp. 119
Author(s):  
Li Lv ◽  
Xi Li
Keyword(s):  
Fuel Consumption ◽  
Dual Credit ◽  
Test Procedure ◽  
Credit Policy ◽  
Production Forecast ◽  
New Energy ◽  
Vehicle Test ◽  
Production Requirement ◽  
New Energy Vehicle ◽  
New Energy Vehicles

The corporate average fuel consumption (CAFC) and new energy vehicle (NEV) credit policy (2021–2023) was officially released in June 2020. As a mandatory regulation for automobile manufacturers to produce new energy vehicles, its impact on the output of new energy vehicles needs to be systematically evaluated. In this study, we build an enterprise policy compliance model to simulate the dual-credit policy requirements for the production of new energy vehicles from 2021 to 2023 under different scenarios. The results show that the production of new energy vehicles from 2021 to 2023 is required to reach 1.78 to 3.97 million under different scenarios. Three factors, i.e., switching from New Europe Driving Cycle (NEDC) to World Light Vehicle Test Procedure (WLTP) fuel consumption improvement of conventional vehicles, and credit per new energy vehicle, have a more significant impact on the new energy vehicle production than others. Under the minimum guarantee scenario, a 10% change in the above three factors will lead to a 2.5%, 1.5%, and 0.5% reduction in the production requirement for new energy vehicles.

scholarly journals The impact of dual-credit scheme on the development of the new energy vehicle industry

2019 ◽  
Vol 158 ◽  
pp. 4311-4317 ◽  
Author(s):  
Yaoming Li ◽  
Qi Zhang ◽  
Hailong Li ◽  
Yanyan Tang ◽  
Boyu Liu
Keyword(s):  
Dual Credit ◽  
New Energy ◽  
New Energy Vehicle ◽  
The Impact

scholarly journals System Dynamics Model for the Evolutionary Behaviour of Government Enterprises and Consumers in China’s New Energy Vehicle Market

2020 ◽  
Vol 12 (4) ◽  
pp. 1578 ◽  
Author(s):  
Hongxia Sun ◽  
Yao Wan ◽  
Huirong Lv
Keyword(s):  
System Dynamics ◽  
Motor Vehicle ◽  
Replicator Dynamics ◽  
Evolutionary Game ◽  
Practical Significance ◽  
Subsidy Policy ◽  
New Energy ◽  
New Energy Vehicle ◽  
The Impact ◽  
Vehicle Market

Exhaust pollution and energy crises are worsening worldwide. China has become the largest motor vehicle producer; thus, promoting the use of new energy vehicles (NEVs) in China has important practical significance. In this paper, considering the limited rationality of governments, NEV enterprises and consumers, we study the subsidy policy of the China NEV market using the evolutionary game and system dynamics (SD) methods. First, a tripartite evolutionary game model is developed and the replicator dynamics equations and Jacobian matrix are obtained. A SD simulation of the model was conducted to further clarify the impact of the initial market proportion and three variables used in the model. The results show that the initial market proportion affects the evolution speed but does not affect the evolution result when the three group players all choose a mixed strategy. For governments, they should not hastily cancel price subsidies provided to consumers; rather, they should dynamically adjust the rate of the subsidy decrease and increase the consumers’ extra cost for purchasing fuel vehicles (FVs). NEV enterprises should appropriately increase their investments in the research and development (R&D) of NEVs.

scholarly journals The Impact of Green Credit on the Green Innovation Level of Heavy-Polluting Enterprises—Evidence from China

2022 ◽  
Vol 19 (2) ◽  
pp. 650
Author(s):  
Zhifeng Zhang ◽  
Hongyan Duan ◽  
Shuangshuang Shan ◽  
Qingzhi Liu ◽  
Wenhui Geng
Keyword(s):  
Natural Experiment ◽  
Double Difference ◽  
Credit Policy ◽  
Green Innovation ◽  
Innovation Activities ◽  
Corporate Credit ◽  
Credit Financing ◽  
The Cost ◽  
The Impact

This article uses the “Green Credit Guidelines” promulgated in 2012 as an example to construct a quasi-natural experiment and uses the double difference method to test the impact of the implementation of the “Green Credit Guidelines” on the green innovation activities of heavy-polluting enterprises. The study found that, in comparison to non-heavy polluting enterprises, the implementation of green credit policies inhibited the green innovation of all heavy-polluting enterprises. In the analysis of heterogeneity, this restraint effect did not differ significantly due to the nature of property rights and the company’s size. The mechanism test showed that green credit policy limits the efficiency of business investment and increases the cost of financing business debt. Eliminating corporate credit financing, particularly long-term borrowing, negatively impacts the green innovation behavior of listed companies.

scholarly journals The impact of the reduction of consumption subsidies on the industrial chain of new energy vehicles

2021 ◽  
Vol 235 ◽  
pp. 01002
Author(s):  
Xiaohua Mao
Keyword(s):  
Chinese Government ◽  
Industry Chain ◽  
Industrial Chain ◽  
New Energy ◽  
New Energy Vehicle ◽  
Using Data ◽  
The Impact ◽  
D Investment ◽  
Vehicle Market ◽  
New Energy Vehicles

In recent years, in order to promote the independent development of the new energy vehicle industry, Chinese government has decided to reduce the consumption subsidies for new energy vehicles until the subsidies are completely withdrawn. The reduction of consumption subsidy has a great impact on the production and sales of new energy vehicles in the whole vehicle market. However, does the reduction of this subsidy also have an impact on other enterprises in the new energy vehicles industry chain? This paper tests this problem using data from 2016 to 2018, and finds, through empirical analysis, that during the period of subsidy decline, the profitability of component enterprises is significantly positively correlated with this subsidies, while the r&d investment of enterprises is significantly negatively correlated with this subsidies. The results show that in terms of profitability, the reduction of consumer subsidies not only has an impact on the whole vehicle industry of new energy vehicles, but also has an adverse impact on the core component companies in the industrial chain. However, in terms of r&d, the reduction of subsidies has more negatively strengthened the input and attention of R&D in component companies.

scholarly journals Research on the Development of New Energy Vehicle Sharing in China Based on the Concept of Green Travel

2020 ◽  
Vol 165 ◽  
pp. 01024
Author(s):  
Anqi Lv ◽  
Zhiqiang Zhu ◽  
Guohua Cheng ◽  
Yi Jia ◽  
Ling Shi
Keyword(s):  
Pollution Prevention ◽  
Development Trend ◽  
Urban Traffic ◽  
Low Carbon ◽  
Transport Service ◽  
Transportation Equipment ◽  
New Energy ◽  
Urbanization In China ◽  
New Energy Vehicle ◽  
The Impact

As the urbanization in China is accelerating, “urban diseases” such as city congestion and environmental pollution arise. Traffic is one of the important factors leading to such urban problems. Therefore, in order to succeed in pollution prevention and control, overcome the shortcomings in urban traffic, and realize high-quality development of transport service, we should promote the development of green transport based on low carbon and environmental protection, and intensively implement green travel. First of all, we should accelerate the upgrading of transportation equipment technology, speed up the promotion and application of new energy vehicles in the field of car sharing, and promote the green and low-carbon development of transport service. Based on it, this paper first defines the green travel, new energy vehicle sharing and other related concepts, and analyzes the impact of new energy vehicle sharing, and then sorts out the development process of new energy vehicle sharing in China and analyzes the development trend and problems being confronted with in this field, and finally puts forward the development policy suggestions on domestic new energy vehicle sharing.

scholarly journals The Impact of Financial Support on Innovation Efficiency of Government Subsidies From the Perspective of DEA-Tobit——An Empirical Study Based on Chinese New Energy Vehicle Enterprises

2021 ◽  
Author(s):  
Sha Zhang ◽  
Fang Chen
Keyword(s):  
Financial Support ◽  
Negative Impact ◽  
Positive Impact ◽  
Reference Value ◽  
Chinese Government ◽  
Operating Cycle ◽  
Government Subsidies ◽  
New Energy ◽  
New Energy Vehicle ◽  
The Impact

Abstract The new energy vehicle enterprises is a strategic emerging industry in China, so more and more government subsidies to promote innovative development are being accepted by new energy vehicle enterprises. What is the innovation efficiency of new energy vehicle enterprises receiving government subsidies? With the acceleration of the process of global economic financialization, whether financial support can promote the innovation efficiency of government subsidies and how enterprises should allocate financial assets have become issues that need to be deeply considered. Based on the annual report data of China's domestic listed new energy vehicle enterprises from 2015 to 2020, the relationship between government subsidies and enterprise innovation efficiency is empirically tested, and the impact of financial support on enterprise R&D innovation efficiency is investigated. The empirical results show that government subsidies are wasteful and fail to effectively promote R&D innovation, and the innovation efficiency of government subsidies is positively influenced by firm nature and firm age, while the total asset turnover ratio, operating cycle and firm size have a negative impact on innovation efficiency. Further research found that there is an inverted U-shaped relationship between financial support and the innovation efficiency of government subsidies. A certain degree of financial support has a positive impact on the innovation efficiency of government subsidies, but excessive financial support has a negative impact on the innovation efficiency of government subsidies. The conclusion provides empirical evidence for the Chinese government to improve the subsidy policy and standardize the development of new energy vehicle enterprises, and has a certain reference value for guiding new energy vehicle enterprises to reasonably allocate financial support.

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