Innovation Model Analysis of New Energy Vehicles: Taking Toyota, Tesla and BYD as an Example

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As one of seven strategic emerging industries, new energy vehicle industry has great significance in China's economic growth and environmental protection. In this paper, taking Toyota, Tesla and BYD as examples, innovative models of new energy vehicles are analyzed. The paper analyzes and compares mainly innovation of the ecological environment, market positioning, innovation path and business model, drawing the following conclusions: Toyota adopted innovative symbiosis strategy that by the use of complementary resources of global relevant enterprises, it made optimized configuration in the global, and built enterprise ecosystem to make progressive disruptive innovation and develop the middle and low-end market; Tesla in a better environment for innovation among the best in the world standing on the forefront of technology innovation environment, quick disruptive innovation, the first to lead the high-end demand, and then to low terminal extension is Tesla's business model. BYD in Shenzhen, a good ecological environment of innovation, through cooperation with domestic and foreign, to niche-based, open platform for product innovation is formed by a plurality of core technologies capture gather after the adoption of the platform innovation resources in connection with the comprehensive remodelling expansion, continued low-cost, high-strength, integrated, open innovation, products are mainly targeted at low-end market.




Liu, J. H., & Meng, Z. (2017). Innovation Model Analysis of New Energy Vehicles: Taking Toyota, Tesla and BYD as an Example. In Procedia Engineering (Vol. 174, pp. 965–972). Elsevier Ltd.

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