Selection & Implementation Of BYD's Internationalization Strategy In US Market

With the development of economic globalization,Chinese enterprises have accelerated their pace of internationalization.Chinese enterprises,represented by the manufacturing industry,have been more actively involved in the process of globalized resource allocation by increasing foreign direct investment.Chinese enterprises' international competitiveness has been further improved.This article chooses BYD as the representative of Chinese private enterprises' “going out" strategy to study its formulation and implementation of international strategy.This paper first introduces the international motivation theory,internationalization strategy and localization strategy.Based on these theories,the author studies China's new energy vehicle leader,BYD's selection and implementation of international strategy in the US market with the help of PEST and Porter's Five-force Model.The main body of this paper is divided into five parts.Part 1 is the introduction,which introduces the background of the topic,the significance,subject and methodologies of the study,and the hierarchical logical relationship of the article.Part 2 is literature review,which summarizes the basic concepts used in this paper,the relevant literature research results and analysis tools used.Part 3 is the case description,which mainly introduces BYD and its status quo,as well as its urgent need for internationalization after in high growth in the domestic market was suddenly blocked.Part 4 is the case study,which analyzes BYD's international strategic environment via PEST,analyzes its own advantages & disadvantages,external threats and internal & external opportunities with SWOT,thoroughly analyzes US market environment,analyzes BYD's selection of internationalization strategy and the rationality of building factories in the US,and analyzes the feasibility,advantages and disadvantages of this strategy.Part 5 is suggestions,which advise BYD to adhere to the localization strategy,value talents,and adhere to technological innovation during its internationalization.The sixth part is conclusion and outlook,which suggests Chinese enterprises to promote internationalization step by step,adhere to independent innovation to create their own core competitiveness,to win in the competition not by lowering prices,but by better quality,technology and services.In the future internationalization process,they should make different localization strategies during different stages of development.