The Development of New Energy Vehicles Industry in China: Opportunity and Competition

Developing new energy vehicles industry, an effective way to deal with environment pollution and energy crisis and to achieve the sustainable development of technology and economy, has been highly valued by all governments. As an important combination of new energy industry and vehicles industry, its development not only represents the direction and inevitable trend of global vehicles industry, but also an important means for China to realize energy saving and emission reduction, industrial upgrading and supply-side reform. This paper firstly analyzes the development environment of China's vehicles industry based on the PEST theory. Then, using patent search information to analyze the global competitive landscape and China's position in the new energy vehicles industry. Finally, this paper concludes that China needs to increase investment in tackling problems in key technologies and encourage cooperation, restructurings and mergers between enterprises to strengthen the competitiveness of new energy vehicles industry.