The Impact of Government Subsidies on Electric Vehicle Sales: A Regression analysis of BYD in China
This study aims to investigate the impact of Chinese government subsidies on BYD’s electric vehicle sales. Since 2009, the Chinese government has continued to subsidize electric vehicle companies in order to promote low-carbon emissions and boost consumption. As a leading company in China’s new ener...
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| Format: | Article |
| Language: | English |
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EDP Sciences
2024-01-01
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| Series: | SHS Web of Conferences |
| Online Access: | https://www.shs-conferences.org/articles/shsconf/pdf/2024/27/shsconf_icdeba2024_03017.pdf |
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| _version_ | 1846125634011529216 |
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| author | Shan Jierui |
| author_facet | Shan Jierui |
| author_sort | Shan Jierui |
| collection | DOAJ |
| description | This study aims to investigate the impact of Chinese government subsidies on BYD’s electric vehicle sales. Since 2009, the Chinese government has continued to subsidize electric vehicle companies in order to promote low-carbon emissions and boost consumption. As a leading company in China’s new energy vehicle industry, BYD received a total of US$3.7 billion in direct government subsidies between 2018 and 2022, including US$2.2 billion in a single year in 2022. Through a regression analysis model, this study examines the relationship between Chinese government subsidies and BYD’s EV sales. The results show that there is a strong positive correlation between government subsidies and BYD’s EV sales, with increased subsidies significantly driving sales growth. Although BYD achieved partial growth without subsidies, the absence of subsidies may negatively affect the sustained sales growth. This study reveals the importance of government subsidies in driving EV market expansion and provides a strong basis for future policy formulation. |
| format | Article |
| id | doaj-art-ac3367f3b7e941b4a8cbc85dbd6112e6 |
| institution | Kabale University |
| issn | 2261-2424 |
| language | English |
| publishDate | 2024-01-01 |
| publisher | EDP Sciences |
| record_format | Article |
| series | SHS Web of Conferences |
| spelling | doaj-art-ac3367f3b7e941b4a8cbc85dbd6112e62024-12-13T10:10:46ZengEDP SciencesSHS Web of Conferences2261-24242024-01-012070301710.1051/shsconf/202420703017shsconf_icdeba2024_03017The Impact of Government Subsidies on Electric Vehicle Sales: A Regression analysis of BYD in ChinaShan Jierui0Longcheng High SchoolThis study aims to investigate the impact of Chinese government subsidies on BYD’s electric vehicle sales. Since 2009, the Chinese government has continued to subsidize electric vehicle companies in order to promote low-carbon emissions and boost consumption. As a leading company in China’s new energy vehicle industry, BYD received a total of US$3.7 billion in direct government subsidies between 2018 and 2022, including US$2.2 billion in a single year in 2022. Through a regression analysis model, this study examines the relationship between Chinese government subsidies and BYD’s EV sales. The results show that there is a strong positive correlation between government subsidies and BYD’s EV sales, with increased subsidies significantly driving sales growth. Although BYD achieved partial growth without subsidies, the absence of subsidies may negatively affect the sustained sales growth. This study reveals the importance of government subsidies in driving EV market expansion and provides a strong basis for future policy formulation.https://www.shs-conferences.org/articles/shsconf/pdf/2024/27/shsconf_icdeba2024_03017.pdf |
| spellingShingle | Shan Jierui The Impact of Government Subsidies on Electric Vehicle Sales: A Regression analysis of BYD in China SHS Web of Conferences |
| title | The Impact of Government Subsidies on Electric Vehicle Sales: A Regression analysis of BYD in China |
| title_full | The Impact of Government Subsidies on Electric Vehicle Sales: A Regression analysis of BYD in China |
| title_fullStr | The Impact of Government Subsidies on Electric Vehicle Sales: A Regression analysis of BYD in China |
| title_full_unstemmed | The Impact of Government Subsidies on Electric Vehicle Sales: A Regression analysis of BYD in China |
| title_short | The Impact of Government Subsidies on Electric Vehicle Sales: A Regression analysis of BYD in China |
| title_sort | impact of government subsidies on electric vehicle sales a regression analysis of byd in china |
| url | https://www.shs-conferences.org/articles/shsconf/pdf/2024/27/shsconf_icdeba2024_03017.pdf |
| work_keys_str_mv | AT shanjierui theimpactofgovernmentsubsidiesonelectricvehiclesalesaregressionanalysisofbydinchina AT shanjierui impactofgovernmentsubsidiesonelectricvehiclesalesaregressionanalysisofbydinchina |