Strategic Emerging Industry: Analysis of Development of New Energy Vehicles

In an environment that promotes environmental protection and energy conservation, new energy vehicles (NEVs) have developed rapidly, becoming a research hotspot in the current international automotive industry, as well as a point of political and economic competition between countries. The first part of this article introduces the current condition and challenges of NEVs in major economies, including competition within the automotive industry and business games between countries. The emergence of an emerging product requires the support of national policies and consumers, as well as healthy competition and appropriate business cooperation among peers. In the second part of the article, we will analyse the strategic choices and responses made by each country to the emergence of NEVs. Besides, based on relevant theories of consumer attitudes, we will analyse the relevant factors influencing consumer attitudes towards NEVs. Meanwhile, we will use two major NEVs brands, Tesla from United States and BYD from China, as examples to analyse the relationship between the cooperation and competition of NEVs under globalisation and geopolitics. Last but not least, the environmental problems caused by fuel combustion are becoming more and more prominent: global warming, destruction of the ozone layer, air pollution, etc. The emergence of NEVs can not only improve the energy structure, but also save energy and reduce emissions, contribute to low-carbon consumption and promote the sustainable development of energy resources. The third part of the article will analyse the sustainable development of NEVs from three aspects: economy, environment and society.