AutoBeta(AutoBeta.net)09/07 Report--

On September 6th, the Ministry of Industry and Information Technology issued the announcement on the preliminary examination of the liquidation and examination of subsidy funds for the promotion and application of new energy vehicles in 2016-2020. According to the public announcement, the sale of 1.0974 million new energy vehicles was completed from 2016 to 2020, with a total subsidy of 32.946 billion yuan after the whole vehicle enterprises were restructured. From the perspective of car companies, BYD, BAIC, Dongfeng Motor, Tesla, Chery, Geely Automobile, Great Wall Motor, SAIC and Guangzhou Automobile will receive more than 1 billion yuan in subsidy funds in this liquidation. BYD can get a subsidy of 3.98 billion yuan.

In 2020, the total number of enterprises declared for promotion is 620600, and the application for liquidation funds is 11.148 billion yuan. The expert group approved the promotion of 585000 new energy vehicles, and the subsidy funds are 10.537 billion yuan after the whole vehicle enterprises have been restructured. Among them, in the 2020 subsidy settlement, Tesla was approved 101000 vehicles, can receive 2.12 billion yuan of new energy vehicle subsidy funds, won the first place in 2020 subsidy settlement funds. According to relevant data, Tesla sold 148000 vehicles in China in 2020, and the liquidated vehicles accounted for about 68 per cent of Tesla's 2020 sales. The largest number of approved vehicles is BYD, which approved 117000 vehicles in 2020, with the corresponding subsidy fund reaching 2.047 billion yuan. Relevant data show that BYD sold 189000 new energy vehicles in 2020, accounting for about 62 per cent of BYD's 2020 sales.

It is not difficult to see that the main beneficiaries are still traditional independent brands such as BYD, BAIC, Yutong, SAIC and Geely. With 3.98 billion yuan, BYD has become the production brand of new energy vehicles with the most subsidy funds. It is understood that the Ministry of Industry and Information Technology's examination of new energy vehicles has become more stringent. Some new energy vehicles that do not meet the declared quantity requirements, do not meet the mileage requirements, fail to upload operation data in accordance with the relevant requirements, or fail on-site verification will not pass the audit. According to the Circular on improving the Financial subsidy Policy for the Promotion and Application of New Energy vehicles jointly issued by the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of Science and Technology and the National Development and Reform Commission on April 23, 2020, the number of vehicles declared and liquidated by new energy passenger vehicles and commercial vehicle enterprises should reach 10000 and 1000 respectively from 2020.

Starting from 2019, the retrogression of subsidies for new energy vehicles and stricter review regulations will make it more and more difficult for car companies to get subsidies for new energy promotion. State subsidies can indeed give many car companies that want to develop more funds for R & D and production. But for car companies, they should take development as their own responsibility, and they will not live long by living on "subsidies" after all.

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