ISSN: 2222-6990
Open access
As global non-renewable energy reserves gradually decrease, new energy vehicles (NEV) are gaining increasing attention worldwide. The NEV industry in China has significant resource advantages and vast market potential. However, Chinese NEV enterprises have not yet fully met international market demands, which means it is worthwhile to explore how to improve their export competitiveness in the international market. Based on panel data from ten countries between 2019 and 2022, using principal component analysis and gray relational analysis methods on the foundation of the gravity model of trade, the study examines the factors affecting China's NEV exports. The three most important factors, the GDP, carbon emissions, and distance of the target export markets, are extracted from the analysis. In other words, the higher the economic level and carbon emissions of the target export market, the greater the demand for NEVs. Conversely, the closer the distance, the more NEVs are imported from China. It also finds that China's exports to developed countries, particularly those with an advantage of NEV production, are relatively low. In order to have a greater impact on the international market, China still needs to strive to create internationally renowned NEV brands.
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In-Text Citation: (Fan & Chen, 2023)
To Cite this Article: Fan, H., & Chen, Q. (2023). Analysis of Factors Influencing China’s New Energy Vehicle Exports: Empirical Evidence from Ten Destination Markets. International Journal of Academic Research in Business and Social Sciences, 13(7), 445 – 464.
Copyright: © 2023 The Author(s)
Published by Human Resource Management Academic Research Society (www.hrmars.com)
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