Competitive Strategies of New Energy Vehicle Enterprises: Taking BYD as an Example

Abstract

The new energy automobile industry is experiencing rapid growth, with BYD emerging as a prominent player due to its market competitiveness and innovation capabilities. This study focuses on BYD’s development of new energy vehicles and analyses its competitive strategy. BYD is featured by its vertical integration model, focusing on technological innovation and independent research and development. It has a high potential for development under the domestic conditions of large market size and rapid technological development. Through SWOT analysis and the construction of Porter’s Five Forces model, this thesis points out the importance of cost control, development and innovation, and expansion of user scale of this company. In addition, this paper analyses the company’s aspects that need to be improved and puts forward corresponding suggestions for improvement. This thesis aims to provide suggestions and references for the development of BYD’s new energy vehicles and hopes to promote the further development of China’s new energy vehicles.