Collaborative Business Models for the Second-Life Utilization of New Energy Vehicle (NEV) Batteries in China: A Multi-Case Study

New energy vehicle (NEV) power batteries are experiencing a significant “retirement wave”, making second-life utilization (SLU) a crucial strategy to extend their lifespan and maximize their inherent value. This study focuses on prominent enterprises in China’s SLU sector, including BAIC Group, BYD, China Tower, and Zhongtian Hongli. Employing a multi-case study approach, a variety of business models and applicable scenarios developed through the cooperation between NEV manufacturers and SLU enterprises are effectively identified, including “co-constructing and purchase”, “co-constructing and leasing”, “self-constructing and purchase”, and “self-constructing and leasing”. The choice of collaborative business model is closely linked to the developmental stage of the NEV manufacturers and SLU enterprises. Additionally, this paper finds that the achievement of collaboration is influenced by the interplay between market dynamics and government policies. The theoretical framework developed from this study offers valuable insights for NEV manufacturers and SLU enterprises to establish stable and effective collaborative business models.