Research on the Innovation Dimensions and Evolutionary Paths of Business Models for New Energy Vehicles

Abstract

The global pursuit of carbon neutrality is prompting a transformative shift in the automotive industry—from product electrification to systematic innovation in business models. In the context of subsidy reductions, Chinese new energy vehicle (NEV) enterprises are encountering a "hardware profitability dilemma," necessitating breakthroughs through strategic business model innovation. This study adopts the triadic framework of "value discovery, value creation, and value capture," integrating ecosystem theory, data element theory, and service-dominant logic to construct a three-dimensional innovation model for NEV business models: ecologization, digitalization, and service orientation. Drawing on representative cases such as NIO's Battery-as-a-Service, Tesla's Full Self-Driving system, and Didi's Mobility-as-a-Service, this paper analyzes the practical pathways within each innovation dimension. The findings reveal that successful implementation of business model innovation hinges on three critical enablers: organizational capability reconstruction, institutional coordination, and cultural value reconfiguration. Currently, the industry confronts two pivotal challenges: disputes over data sovereignty and competition among infrastructure technology pathways. Looking ahead, as intelligent connectivity matures, battery recycling systems become circular, and carbon credit mechanisms deepen, the NEV industry is poised to transition from fragmented service offerings to integrated ecological collaboration. This research offers both theoretical insights and practical guidance for traditional automakers transitioning toward sustainability and emerging NEV players seeking competitive advantage, ultimately contributing to the dual objectives of carbon neutrality and high-quality industrial development.