AutoBeta(AutoBeta.net)12/11 Report--

The Ministry of Industry and Information Technology issued a public notice on the examination and approval of the advance allocation of subsidy funds for new energy vehicles in 2018, according to the document, which showed that the subsidy funds for new energy vehicles totaled 13.778 billion yuan in 2018.

According to the automobile enterprises published in the documents, BYD is the car company that receives the most subsidy funds for new energy vehicles, of which BYD Automobile Co., Ltd. received 1.98 billion yuan, BYD Automobile Industry Co., Ltd. received 1.65 billion yuan, and BYD Automobile Industry Co., Ltd. Changsha Branch received 1.26 million yuan, totaling 3.63 billion yuan.

In November, BYD sold 11220 new energy vehicles, down 63 per cent from 30076 in the same period last year. BYD's cumulative sales from January to November were 216407, up 7.6 per cent from 201161 in the same period last year.

The increase in BYD's sales of new energy vehicles is mainly due to the best-selling sales of new energy vehicles subsidized by the government in the first half of this year, but after the decline of new energy subsidies in June, the market of new energy vehicles has been affected. New energy vehicles have declined for five consecutive months, and BYD has also been affected in the severe market environment. Sales of new energy vehicles declined in November.

According to the financial report, in the first three quarters of this year, BYD's operating income was 93.822 billion yuan, up 5.44% from the same period last year; the net profit belonging to shareholders of listed companies was 1.574 billion yuan, up 3.09% from the same period last year. BYD received 3.632 billion yuan in new energy subsidies in 2018, which undoubtedly relieved the pressure on BYD to develop new energy vehicles.

In addition, Chery received 1.342 billion yuan in subsidies for new energy vehicles, SAIC received 1.138 billion yuan in subsidies for new energy vehicles, Jianghuai received 964 million yuan in subsidies for new energy vehicles, and BAIC received 879 million yuan in subsidies for new energy vehicles. the rest of the car companies received subsidies of no more than 500 million yuan.

Last month, the Ministry of Finance issued the results of the 2020 budget for energy conservation and emission reduction subsidies to be allocated to local governments. Among them, the subsidy funds for the promotion and application of new energy vehicles totaled about 16 billion yuan in 2017, and the subsidies for energy conservation and new energy bus operation totaled about 15.3 billion yuan in 2018, totaling about 31.4 billion yuan in two years.

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