Research On Financial Flexibility Motivation And Economic Consequences Of New Energy Vehicle Industry ——Taking GAC As An Example

With the increasing destruction of the environment and the depletion of energy,the production and use of new energy vehicles has gradually become the development trend of the automotive industry.The industry has been paid more and more attention by various departments of the state,followed by the introduction of various subsidy policies,but due to changes in policies,the operating conditions of the industry will be affected.Financial flexibility,as one of the metrics reflecting the ability of an enterprise to deal with risks and opportunities,is of great significance for enterprises to respond to external risks such as policy changes in a timely manner.Compared with other industries,the R＆D investment and daily production and operation activities of the new energy vehicle industry involve a large amount of capital operation,which requires a reasonable allocation of existing financial resources.By maintaining a certain degree of financial flexibility,enterprises can effectively deal with unexpected financial risks and seize favorable investments in a timely manner.GAC Group is a representative new energy vehicle company with a relatively high level of financial flexibility.It responds to the ever-changing external environment by maintaining a high level of financial flexibility,effectively responds to the impact of unexpected changes in the market environment,and at the same time ensures the demand for funds in the process of its own operation and investment,and promotes the improvement of corporate value and innovative development..This paper selects GAC as the research object,and analyzes the content,implementation motivation,implementation method and economic consequences of its financial flexibility.The author first quantifies financial flexibility,which is mainly divided into cash flexibility,liability flexibility,and equity flexibility.Then analyze the financial flexibility of GAC from2013 to 2020,and analyze the reasons for GAC to maintain financial flexibility from the perspectives of defense,transaction and investment,and then summarize the reasons for GAC to increase investor confidence by expanding sales,complementing internal and external financing,and increasing dividends.The method improves financial flexibility,and then explains the effect of financial flexibility on GAC Group’s value enhancement,alleviation of financing constraints,and promotion of innovative development.Finally,combined with the actual situation,it provides suggestions for reference on how to improve the financial flexibility of the new energy vehicle industry,that is,by maintaining Cash holdings,adjustment of liability structure,expansion of financing channels,combined with specific circumstances and measures to respond to policy changes in a timely manner can enhance the ability of enterprises to control financial resources,effectively deal with unexpected risks and seize favorable opportunities.