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Since the domestic efforts to support the development of new energy vehicle industry, the new energy double points system has appeared. In order to assess the fuel consumption of car companies, the government will adopt the attitude of excessive punishment and encouragement. However, due to the difficulties in the transformation of some traditional car companies for a while, in order to avoid high penalties, they will "buy points" from some new energy car companies.

In this environment, a few days ago, foreign media quoted three people familiar with the matter as saying that FAW-Volkswagen, one of Volkswagen's joint ventures, will buy carbon points from Tesla, a new energy car company, to help meet local environmental regulations, with the approval of two car companies.

People familiar with the matter said it was not clear how many carbon credits FAW-Volkswagen would buy from Tesla, but FAW-Volkswagen offered about 3000 yuan each, higher than the price in previous years. Insiders also said that this move also reflects that Volkswagen is facing great challenges and difficulties in the process of electrification.

Tesla and Volkswagen did not respond to this report. However, some companies have stated that the plan to buy points will comply with and comply with Chinese regulations, and will buy points if necessary.

As early as last April, Volkswagen executives said in response to points that the company might not be able to meet its 2020 fuel consumption targets in China, the world's largest car market, so it had to buy emission points from other carmakers.

Stephan Woellenstein, president of Volkswagen in China, has said that while Volkswagen expects sales of new energy vehicles such as plug-in hybrids to more than double, there is no guarantee that it will meet the mandatory requirements facing the company.

Although FAW-Volkswagen is the highest-selling car company in 2020, its performance in the field of new energy has been mediocre in the past year, even though the Volkswagen brand has accelerated its electric offensive. However, the brand delivered only 52300 new energy vehicles in the Chinese market in 2020, an increase of 36.0% over the same period last year, a significant gap from the original plan for more than 400000 new energy vehicles.

At present, the new energy models sold by FAW-Volkswagen in the Chinese market are Bora-Pure Electric, Golf-Pure Electric, Maiteng GTE, Tan Yue GTE and ID 4 CROZZ, but the ID 4 CROZZ is only available this year, so none of the above models have achieved hot sales. Prior to this, Golf-Pure electricity was also sold through substantial discounts in order to earn points.

It is understood that China's double points policy will be implemented from April 1, 2018. The so-called "double integral" is: average fuel consumption integral + new energy vehicle integral. The negative value of "average fuel consumption" can be traded, compensated and transferred by the points of new energy vehicles.

According to the regulations, if a car company fails to meet the requirements of the new energy point, it will be punished and suspend the declaration of fuel-guzzling products and the production of fuel-guzzling products.

Car companies that fail to reach the fuel consumption point can offset zero by offsetting the positive points of their own new energy vehicles, transferring between related enterprises, and buying new energy vehicles. Enterprises that cannot offset the return to zero shall submit a product adjustment plan to the Ministry of Industry and Information Technology and set a time limit for reaching the standard. Before its negative points are offset to zero, the products with substandard fuel consumption will not be included in the model announcement, which means that they cannot be sold to the outside world.

The double points of car companies in 2020 have not yet been announced, but according to the 2019 released by the Ministry of Industry and Information Technology, BYD's new energy vehicle score ranked first with a score of 478587, while FAW-Volkswagen ranked last with a score of-145274.

According to the points that Chinese automakers need to earn according to the mileage of their vehicles, they can meet the quota requirements for new energy vehicles. FAW-Volkswagen sold 2.0715 million new cars in 2020, which requires 207000 points to meet the 10% quota for that year. If you get 2 points for each plug-in, or 5 points for each pure electric model, FAW-Volkswagen needs to sell 103000 plug-in models or 41400 all-electric models, or a mix of the two models.

Although FAW-Volkswagen is the highest-selling car company in 2020, it sold 2.0715 million vehicles last year, up 1.2 per cent from a year earlier, according to the association. But its share of sales in the new energy sector is still small, which means Volkswagen will provide financial subsidies to competitors in China.

It is worth mentioning that in 2020 alone, Tesla earned $1.58 billion by selling his carbon credits, which accounted for nearly 50% of Tesla's total revenue last year and even made more money than selling cars.

In any case, double points is still a transitional policy for the Chinese market. With more and more new energy vehicles in the future, the proportion of new energy vehicles in total output will naturally become higher and higher, and the points system will naturally lose its incentive significance.

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