AutoBeta(AutoBeta.net)07/05 Report--

On July 5, the Ministry of Industry and Information Technology, the Ministry of Finance, the Ministry of Commerce, the General Administration of Customs and the General Administration of quality Supervision, Inspection and Quarantine jointly announced the average fuel consumption of Chinese passenger car enterprises and the points of new energy vehicles in 2021. The announcement shows that in 2021, a total of 20.6482 million passenger vehicles (including new energy passenger vehicles, excluding export passenger vehicles, the same below) are produced / imported by 129 passenger car companies in China. The actual average fuel consumption (WLTC operating condition) is 5.10L / 100km, the positive integral of fuel consumption is 15.9399 million points, the negative score of fuel consumption is 563.25 million, and the positive score of new energy vehicles is 6.791 million. The negative score of new energy vehicles is 797900 points.

Among them, 19.7552 million passenger vehicles are produced by the domestic passenger vehicle manufacturing enterprises, the average actual fuel consumption (WLTC working condition) is 4.99L / 100km, the positive integral of fuel consumption is 15.9338 million, the negative integral of fuel consumption is 4.815,800, the positive score of new energy vehicle is 677.74 million, and the negative integral of new energy vehicle is 733,100. 21 imported passenger car supply enterprises imported 893000 passenger vehicles, the average actual fuel consumption (WLTC working condition) was 7.81L / 100km, the positive integral of fuel consumption was 6100, the negative score of fuel consumption was 816,600, the positive score of new energy vehicle was 13600, and the negative score of new energy vehicle was 64900.

The so-called "double points" refers to the average fuel consumption points of passenger car enterprises and the points of new energy vehicles, which has been implemented for ten years since April 2018. According to the regulations, if an automobile company fails to meet the double points requirement, it will be punished and suspend the declaration and production of fuel-guzzling products. Of course, car companies that do not 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, while enterprises that cannot compensate for returning to zero need to submit product adjustment plans to the Ministry of Industry and Information Technology and set a deadline for reaching the standards. Before its negative points are offset to zero, the products that do not meet the fuel consumption standards will not be included in the model announcement, that is, the products cannot be sold to the outside world.

On the whole, due to the requirements of the "double points" policy, more and more traditional car companies are actively launching layout in the field of new energy vehicles, launching new energy vehicle projects and expanding the production capacity of new energy vehicles. therefore, the positive score of new energy vehicles is increasing year by year. At the same time, the leading enterprises of new forces in car building have also become the big winners in obtaining a large number of positive points for new energy vehicles.

The announcement shows that in 2021, there are 65 enterprises that meet the average fuel consumption standards for passenger vehicles and 64 enterprises that do not meet the standards. Among them, SAIC GM Wuling Automobile Co., Ltd., Tesla (Shanghai) Co., Ltd., and BYD Automotive Industry Co., Ltd. (BYD Automobile Co., Ltd.) ranked high in the scores of new energy vehicles. the number of points generated were 2.5473 million, 2.1419 million and 1.6811 million (1.8706 million), respectively.

What is different from the positive points of new energy vehicles is that in the top ten camps of negative points of new energy vehicles, joint ventures have become the protagonist, but there is a significant decrease compared with 2020, mainly joint ventures to speed up the layout of new energy vehicles. The announcement shows that traditional joint ventures such as FAW-Volkswagen, Dongfeng Limited, SAIC Volkswagen, SAIC General Motors and Guangzhou Automobile Honda are unqualified, with SAIC GM's average fuel consumption score of-714700, FAW-Volkswagen-447000 and Dongfeng Limited-435900. In addition, some independent brands are seriously substandard, including-416300 for Geely and-468500 for Chery.

In other words, car companies with negative points for the above new energy vehicles need to purchase positive points for new energy in order to continue the declaration and production of high fuel consumption products. This also means that car companies with negative points for new energy will invest a huge amount of money to buy positive points, and sales of positive points have also become a channel for many car companies to make profits. According to the latest annual report on points released by the Ministry of Industry and Information Technology, the average price of fuel consumption in 2021 was 2088 yuan / min, an increase of 73% over the same period last year. In other words, if Tesla sells all the available points, he can get an additional income of 2.923 billion yuan, while SAIC GM, which has the most negative points, needs to pay 1.492 billion yuan to buy points, which is also a huge expense.

The purpose of the "double points" policy is to accelerate the transformation from traditional cars to new energy vehicles. Although the current domestic double points policy has both advantages and disadvantages, as the relevant state departments have issued a number of related policies on new energy vehicles, it also shows that China's direction and determination to support the development of new energy vehicle industry has never wavered. In the long run, traditional car companies need to speed up the pace of transformation, accelerate the layout of the new energy vehicle industry chain, and constantly improve the new energy industry technology, so as to promote the development of the whole new energy industry.

According to the requirements of the double points policy, the larger the production scale of traditional fuel vehicles, the more stringent the corresponding requirements for the points of new energy vehicles. Almost all mainstream joint venture passenger car companies, including "North and South Volkswagen", have been increasing and promoting the strategy of electrification and new energy vehicles in China in recent years, and the purpose of launching five electric vehicles in one year is self-evident. However, the annual production and sales scale of many mainstream joint venture car enterprises has exceeded 1 million or 2 million vehicles, which meets the requirements of the double points policy to achieve transformation, but it is a long-term process.

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