The Impact of New Energy Vehicle Battery Service on Corporate Financial Performance

In recent years, with the rapid development of technology and the "dual-carbon" goal, the new energy vehicle industry in emerging regions has been developing rapidly. However, as a core component of new energy vehicles, the battery has problems in safety, range and insurance services. Therefore, this paper explores the impact of new energy vehicle battery services on its financial performance from the perspective of charging piles. Taking China as an example, this paper uses the quarterly data of 530 listed new energy vehicle companies from March 2019 to June 2022 and the data of charging piles in each province. It establishes a panel model and a HLM multilayer linear regression model with the financial performance of new energy vehicle enterprises as the dependent variable and the number of charging piles as the independent variable to analyze the impact of new energy vehicle battery services on their financial performance. The empirical results show that (1) an increase in the number of charging piles significantly improves the financial performance of local new energy vehicle enterprises. (2) In terms of regional heterogeneity, the number of charging piles in coastal areas and economically underdeveloped areas has a greater impact on financial performance of local new energy vehicle enterprises. (3) The governmental governance capacity in the provinces, technological innovation capacity, and green development attention of local government have a significant moderating effect on the financial performance of local new energy vehicle enterprises.