Research On The Financing Of New Energy Vehicle Enterprises

In the context of achieving the "double carbon" goal,the country attaches great importance to the sustainable development of new energy vehicle enterprises.However,in recent years,with the transition from the introduction period to the growth period of new energy vehicle enterprises,the government subsidies are retreating year by year,and the competition in the industry is becoming more and more intense,getting rid of the financing dilemma has become an important issue for new energy vehicle enterprises,which are both capital-intensive and technology-intensive.Therefore,it is necessary to analyze the financing characteristics,financing sources,financing methods and financing risks of new energy vehicle enterprises,so as to provide experience and reference for their optimal financing strategies and sustainable development in the future.Based on this,this paper analyzes the impact of different financing sources and financing methods on the business development of NIO by using SWOT analysis,further discusses the similarities and differences of financing sources and methods among different car companies in the same industry,and proposes corresponding risk management strategies.The study shows that:(1)NIO’s ability to choose its financing sources and financing methods is weak.The impact of the withdrawal of state subsidies and its own product quality issues has led to a lack of investor confidence in NIO,which in turn has caused significant stock price volatility and made it more difficult to raise equity financing.(2)NIO’s debt-based and hybrid financing has led to the risk of weak cash flow acquisition and unreasonable capital structure,which has been effectively improved by equity financing.In this regard,NIO should establish a financing risk control system while appropriately reducing the proportion of debt-based and hybrid financing to ensure a healthy capital structure while playing the role of debt tax shield.(3)Subsidy withdrawal,lack of profitability,and rapid development of car companies in the same industry are the main threats to NIO’s financing.In this regard,NIO should make full use of national policies,improve cost control,and achieve differentiation to attract more financing.This paper not only enriches the literature on financing models in the new energy vehicle industry,but also has practical implications for companies to alleviate their financing dilemmas.