Analysis of Competitive Advantages and Financial Performance of New Energy Vehicle Enterprises Based on Resource-Based Theory: A Case Study of BYD, NIO and Li Auto

DOI

10.2991/978-94-6239-672-2_19How to use a DOI?

Keywords

competitive advantage; financial performance; resource-based view; new energy vehicle manufacturers; resource allocation; grounded theory

Abstract

Against the backdrop of deepening global dual-carbon strategies, the new energy vehicle industry is transitioning from policy-driven to market-driven growth, with industry competition entering the deep waters of differentiated value competition. This paper, grounded in resource-based theory, examines three benchmark automakers—NIO, BYD, and Li Auto—operating in distinct market segments. Employing grounded theory, it constructs a five-dimensional analytical framework encompassing internal production and R&D, management expenses, digital transformation, alongside external market demand and policy support. By dissecting core data from corporate annual reports spanning 2022 to 2024, it systematically investigates the conversion mechanism of resource allocation into competitive advantage and financial performance. Findings reveal: market positioning dictates the core logic of resource allocation, with each firm developing differentiated strategies tailored to their respective segments; resources across the five dimensions exhibit transmission characteristics of internal synergy and external alignment, where production and R&D form the foundational core, digital transformation amplifies efficiency, and policy support alongside market demand provide external underpinning; the VRIN attributes of resources are pivotal to the sustainability of competitive advantage.

Copyright

© 2026 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Yi Xue
PY  - 2026
DA  - 2026/05/12
TI  - Analysis of Competitive Advantages and Financial Performance of New Energy Vehicle Enterprises Based on Resource-Based Theory: A Case Study of BYD, NIO and Li Auto
BT  - Proceedings of the 2026 3rd International Conference on Applied Economics, Management Science and Social Development (AEMSS 2026)
PB  - Atlantis Press
SP  - 190
EP  - 203
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6239-672-2_19
DO  - 10.2991/978-94-6239-672-2_19
ID  - Xue2026
ER  -