The Impact Of Government Subsidies On The Development Of New Energy Automobile Enterprises

With the increase in consumer demand for automobiles,the energy shortage crisis and environmental pollution problems have become increasingly prominent,posing a major threat to the sustainable development of economy.As one of the important measures to upgrade the automobile industry structure and co with the energy crisis,major countries in the world are pushing the development of new energy vehicles in full swing.China has firmly grasped the historical opportunity of developing a new energy automobile industry,and promoted the take-off of the industry with a strong subsidy policy,with a view to achieving “curve overtaking” in the automobile industry.After the new energy vehicles have been cultivated in the early stage of the policy,the government subsidies have gradually declined in the past two years,and the industry has come to the shift stage.Can government subsidies have the expected effect on the development of companies? Does the development of the company depend on the support of government subsidies? How should companies rationally use policies to improve their development capabilities? These are all issues that deserve our deep thinking.This paper analyzes the impact of government subsidies on the development of new energy auto industry by analyzing the statistical data of government subsidies given to 23 listed new energy vehicles companies throughout 2009-2017 and the top 8 sample companies.The subsidy has a positive effect on the scale of growth and R&D investment of the new energy auto industry,but it has no positive effect on the financial performance of the industry.Furthermore,this paper selects Changan Automobile,a typical company of new energy vehicles,as the research object,focusing on its financial data and financial indicators during 2009-2017.By analyzing the impact of the scale of government subsidies obtained by Changan Automobile on the scale of assets,R&D investment and financial performance,it is found that although government subsidies have enhanced the performance of financial statement of companies,and promoted the growth of the company along with R&D capabilities.However,it has not significantly promoted the company's financial performance.To this end,this paper provides relevant suggestions for the government to adjust the subsidy policy for new energy auto companies and the company's own use of government subsidies to develop new energy auto business segments,in order to achieve the goal of promoting the sustainable development of the industry via effective adjustment and perfection in subsidy policy.