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Abstract This paper utilizes a game theory model to investigate the interplay of cooperation and competition between smart vehicle companies (the incumbents) and traditional vehicle companies (the entrants) in the intelligent connected vehicle industry. The results show that technology sharing emerges as a critical factor in improving business performance and driving market expansion. Additionally, the collaborative endeavors of competitive firms, coupled with consumer involvement, play a crucial role during the value co‐creation phase of new products, significantly impacting company efficiency and consumer satisfaction. Drawing on case studies such as Tesla further corroborates our management insights.
Ma et al. (Thu,) studied this question.