Comparative Analysis of Policy Effect Evaluation of New-energy Vehicle Industry in China and the U.S.

Abstract

Against fluctuations in the global automotive market, the electric vehicle (EV) industry has demonstrated a positive development trend overall. China has become a leader in battery production and related infrastructure construction, while the United States, though ranking third, also holds an important position. This paper analyzes the effects of government-led policies and market-driven policies on the electric vehicle policies of China and the United States. It explains how the industries and policies of the two countries interact. By analyzing the current state of the industries in both countries and their different policy preferences in terms of fiscal policy, infrastructure allocation, and other dimensions, the following conclusions can be drawn. Firstly, compared to the incoherent central policies and decentralized local policies lacking central authority in the U.S. electric vehicle industry, China's top-down long-term policies lead to a more consistent and efficient development of its electric vehicle industry. This article concludes that China's strong authoritative and consistent policies in the electric vehicle industry play an important role in maintaining its leading position in the global electric vehicle industry.