Driving Innovation: China’s NEVDevelopment Model and Future Outlook

Bai Xuejie*, Zhu Zeyuan

College of Economic and Social Development, Nankai University, Tianjin, China

Abstract: In recent years, China’s new energy vehicle (NEV) industry has emergedas a crucial component of its modern industrial system, drawing on its advantages intechnological innovation, industrial scale, and green, low-carbon development. As oneof China’s strategic emerging industries, the NEV sector is at the forefront of R&D andbreakthroughs in critical core technologies. It is a central industry in terms of industrialagglomeration, highly coordinated supply chains, and the expansion of value chains.NEVs are a key representative of China’s manufacturing industry expanding globally inthe new era. To maintain a competitive edge, it is critical to expedite breakthroughs in keytechnologies and ensure autonomy and control over the industrial supply chain. Looking tothe future, the industry must optimize data-driven “user-vehicle-road-cloud” collaborativesystems, adapt to new environmental changes and market demands through opencooperation, and lead the construction and evolution of China’s modern industrial system.

Keywords: New energy vehicles (NEVs), strategic emerging industries, industrial

JEL Classification Code: O14, O33

DOI: 10.19602/j.chinaeconomist.2024.11.02