Research On The Impact Of Government Subsidies On The Financial Performance Of New Energy Vehicle Companies

New energy vehicles are the strategic choice for the transformation and upgrading of automobile industry.Due to the problems of high R & D cost and insufficient infrastructure in the early development of new energy vehicle industry,the Chinese government has intensively issued a series of subsidy policies to help the development of new energy vehicles in an all-round way.In recent years,China's national enterprise BYD is very eye-catching in the new energy vehicle industry,and its outstanding performance has an inseparable relationship with the government's large subsidies for many years.With the growing maturity of new energy vehicle industry,government subsidies are gradually declining.Once cancelled in the future,enterprises will need to rely on their own strength to base on the market.Therefore,it is necessary to explore the impact of government subsidies on the financial performance of enterprises in this field.Only by mastering the real financial performance after eliminating subsidies can enterprises prepare for the transformation of the industry to the market as soon as possible.This paper combs the subsidy policy and the basic situation of the case enterprise BYD.On this basis,it combines the empirical analysis method with the case analysis method.First,it uses the factor analysis method to get the financial performance score of 88 listed companies in the new energy vehicle sector,and then uses the regression analysis method to analyze the impact of government subsidies on the financial performance.After the general conclusion is obtained,it can be used to evaluate the financial performance of new energy vehicle enterprises BYD's financial data in recent years,a typical representative of BYD,are analyzed in detail.BYD's real financial situation and performance level are displayed by excluding government subsidies,and the impact of government subsidies on its financial performance is studied.Compared with the previous pure empirical research or case analysis,the research object of this paper is more comprehensive,and the conclusions are more reliable.It is found that subsidies can improve the financial performance of enterprises to a certain extent,and also have a positive impact on the financial performance of BYD.At the same time,it is found that BYD has a certain dependence on government subsidies in the process of subsidy.In this regard,this paper puts forward countermeasures from the perspective of new energy vehicle enterprises and the government,and suggests that enterprises should get rid of the dependence on subsidies as soon as possible by improving the ability of opportunity identification and application,enhancing the ability of R & D and innovation,while the government can dynamically adjust the subsidy policy by monitoring the subsidy effect,so as to drive China's new energy vehicle enterprises to smoothly transition to the market-oriented level To realize the sustainable and healthy development of the industry.