Navigating the energy crisis: automakers’ coopetition strategies under dual credit policy
To tackle the energy and climate crises and achieve sustainable development, China has designated the development of new energy vehicles (NEVs) as a national strategy. This paper delves into the coopetition strategy of dual-model automakers under the dual credit policy (DCP) using a subsidy-R&D-...
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EDP Sciences
2025-01-01
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| Series: | Science and Technology for Energy Transition |
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| Online Access: | https://www.stet-review.org/articles/stet/full_html/2025/01/stet20240285/stet20240285.html |
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| author | Yuan Kaifu Wang Chuanji Xiao Fang |
| author_facet | Yuan Kaifu Wang Chuanji Xiao Fang |
| author_sort | Yuan Kaifu |
| collection | DOAJ |
| description | To tackle the energy and climate crises and achieve sustainable development, China has designated the development of new energy vehicles (NEVs) as a national strategy. This paper delves into the coopetition strategy of dual-model automakers under the dual credit policy (DCP) using a subsidy-R&D-production three-stage game model, considering government subsidies and consumer preferences. The model explores various strategies, including full competition and different R&D cooperation scenarios for fuel vehicles (FVs) and NEVs. Key findings include: (1) R&D subsidies boost NEVs R&D investments but may not always optimize social welfare. (2) When NEVs technology spillovers are low, firms should fully cooperate; otherwise, the FVs R&D cooperation is optimal, especially with high FVs spillovers. (3) Investments and outputs in both vehicle types positively correlate with technology spillovers, and consumer preferences. Conversely, FVs equilibrium decreases with NEVs credit proportion and fuel consumption disparities. (4) The credit price positively influences R&D investments and outputs of NEVs, but its effects on FVs’ R&D investments, outputs, corporate profits, and social welfare vary based on market dynamics. Recommendations include optimizing subsidy policies, supporting low-carbon FVs, enhancing infrastructure, and strengthening DCP regulations to stabilize credit price expectations. |
| format | Article |
| id | doaj-art-1d1535368b314f228ba0aff8901f8cf6 |
| institution | Kabale University |
| issn | 2804-7699 |
| language | English |
| publishDate | 2025-01-01 |
| publisher | EDP Sciences |
| record_format | Article |
| series | Science and Technology for Energy Transition |
| spelling | doaj-art-1d1535368b314f228ba0aff8901f8cf62025-02-07T08:32:04ZengEDP SciencesScience and Technology for Energy Transition2804-76992025-01-01801110.2516/stet/2024101stet20240285Navigating the energy crisis: automakers’ coopetition strategies under dual credit policyYuan Kaifu0https://orcid.org/0000-0003-2655-3538Wang Chuanji1https://orcid.org/0009-0006-7034-8020Xiao Fang2https://orcid.org/0009-0009-1498-3144School of Business Administration, Guizhou University of Finance and EconomicsSchool of Business Administration, Guizhou University of Finance and EconomicsSchool of Business Administration, Guizhou University of Finance and EconomicsTo tackle the energy and climate crises and achieve sustainable development, China has designated the development of new energy vehicles (NEVs) as a national strategy. This paper delves into the coopetition strategy of dual-model automakers under the dual credit policy (DCP) using a subsidy-R&D-production three-stage game model, considering government subsidies and consumer preferences. The model explores various strategies, including full competition and different R&D cooperation scenarios for fuel vehicles (FVs) and NEVs. Key findings include: (1) R&D subsidies boost NEVs R&D investments but may not always optimize social welfare. (2) When NEVs technology spillovers are low, firms should fully cooperate; otherwise, the FVs R&D cooperation is optimal, especially with high FVs spillovers. (3) Investments and outputs in both vehicle types positively correlate with technology spillovers, and consumer preferences. Conversely, FVs equilibrium decreases with NEVs credit proportion and fuel consumption disparities. (4) The credit price positively influences R&D investments and outputs of NEVs, but its effects on FVs’ R&D investments, outputs, corporate profits, and social welfare vary based on market dynamics. Recommendations include optimizing subsidy policies, supporting low-carbon FVs, enhancing infrastructure, and strengthening DCP regulations to stabilize credit price expectations.https://www.stet-review.org/articles/stet/full_html/2025/01/stet20240285/stet20240285.htmldual credit policygovernment subsidiescoopetition strategiesr&d investmentsconsumer preferencetechnology spillovers |
| spellingShingle | Yuan Kaifu Wang Chuanji Xiao Fang Navigating the energy crisis: automakers’ coopetition strategies under dual credit policy Science and Technology for Energy Transition dual credit policy government subsidies coopetition strategies r&d investments consumer preference technology spillovers |
| title | Navigating the energy crisis: automakers’ coopetition strategies under dual credit policy |
| title_full | Navigating the energy crisis: automakers’ coopetition strategies under dual credit policy |
| title_fullStr | Navigating the energy crisis: automakers’ coopetition strategies under dual credit policy |
| title_full_unstemmed | Navigating the energy crisis: automakers’ coopetition strategies under dual credit policy |
| title_short | Navigating the energy crisis: automakers’ coopetition strategies under dual credit policy |
| title_sort | navigating the energy crisis automakers coopetition strategies under dual credit policy |
| topic | dual credit policy government subsidies coopetition strategies r&d investments consumer preference technology spillovers |
| url | https://www.stet-review.org/articles/stet/full_html/2025/01/stet20240285/stet20240285.html |
| work_keys_str_mv | AT yuankaifu navigatingtheenergycrisisautomakerscoopetitionstrategiesunderdualcreditpolicy AT wangchuanji navigatingtheenergycrisisautomakerscoopetitionstrategiesunderdualcreditpolicy AT xiaofang navigatingtheenergycrisisautomakerscoopetitionstrategiesunderdualcreditpolicy |