Abstract: Transportation electrification is accelerating worldwide as part of the concerted effort to achieve carbon neutrality within the transportation sector. However, some challenges still need to be overcome. Government financial support in the new energy vehicle (NEV) markets, in regions and countries such as the European Union, the United States, China, and Japan, directly incentivizes research and development (R&D) and signals technology strategy emphasis of each country. To gain a comprehensive understanding of the distinct national approaches to realizing the shared goal of global carbon neutrality, this study has established an analytical framework. It aims to critically assess the policies and incentives that propel the industrial and technological routes for decarbonizing transportation, all under the overarching guidance of government-led R&D strategies within the NEV markets. Publicly available papers, reports, and roadmaps are analyzed. The findings of this investigation indicate that the future development of the NEV market is driven by carbon–neutral policies within the regions and countries covered in this study. Key areas of development focus include advanced batteries, more efficient motors, and clean hydrogen, but each country has a distinct strategy and organization. This strategic and organizational review can provide insights and suggestions that can facilitate tangible interventions in supporting the ongoing advancement of NEV technology.