Resources Science ›› 2021, Vol. 43 ›› Issue (1): 1-11.doi: 10.18402/resci.2021.01.01

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Characteristics of the impact of corporate average fuel consumption-new energy vehicle credits (CAFC-NEV) mandate on the new energy vehicle industry: From the perspective of business and environmental performances

LI Xu(), XIONG Yongqing()   

  1. School of Business, Central South University, Changsha 410083, China
  • Received:2020-02-09 Revised:2020-10-31 Online:2021-01-25 Published:2021-03-25
  • Contact: XIONG Yongqing

Abstract:

To promote the synchronous growth of business performance and environmental performance, the corporate average fuel consumption-new energy vehicle credits (CAFC-NEV) mandate was implemented in the new energy vehicle industry. The implementation can be divided into two stages: the “brewing period” (2014-2016) and the implementation period (2017-2018). Using new energy passenger vehicles as examples, this study examined the dynamic change of business performance and environmental performance of new energy vehicle enterprises from three dimensions significance, agility, and stability. The results show that: (1) The CAFC-NEV mandate had shown its positive effects during the brewing period, in which environmental performance growth was more significant and stable, and business performance responded more quickly to the policy; (2) The positive effects of the brewing period were further enhanced in the implementation period. The growth of business performance is more significant, and the environmental performance policy response is more agile and the growth is more stable. Accordingly, the CAFC-NEV mandate needs to further improve its adaptability, coverage, and precision and control the pace and strength of implementation by taking advantage of the policy signal release mechanism.

Key words: corporate average fuel consumption-new energy vehicle credits (CAFC-NEV) mandate, business performance, environmental performance, new energy vehicle, counterfactual analysis