It is reported that under the background that the four ministries and commissions (Ministry of Industry and Information Technology, Development and Reform Commission, Ministry of Finance and Ministry of Science and Technology) have been investigating the development status of new energy vehicles in various pilot cities, the new subsidy policy for domestic new energy vehicles has been formulated and is expected to be formally introduced in the near future. Among them, the policy of unifying subsidies everywhere has become the biggest bright spot.
According to Zhang Jie, the president of the China Investment Association’s Energy Development Research Institute, Zhang Jie publicly disclosed that the new policy will no longer require subsidy from local governments. Instead, the central government will uniformly distribute subsidy funds; the original subsidy will only be used for pilot cities and the new policy will be extended to the whole country. And the standard is unified.
Involving billions of dollars in funds
Zhang Xiaoyao, executive vice president of the China Federation of Machinery Industry, told the media recently: “The current news is that the Ministry of Industry and Information Technology, the National Development and Reform Commission, and the Ministry of Science and Technology are still very active. The key depends on the balance of funds of the Ministry of Finance because it is not a decimal. It may involve several tens of billions."
In the past two sessions, the development and promotion of new energy vehicles were the focus of attention of delegates. The proposal of Xu Heyi, chairman of BAIC Group, is: “The R&D and promotion of new energy vehicles will be one of the solutions for air pollution. Automobile companies should vigorously develop new energy vehicles.â€
According to industry experts, there are also considerations for the future consumer market. “Once China’s oil prices break once again this year,†and after the implementation of the fifth national emission, the cost of car owners will increase significantly, while new energy vehicles will not exist. these questions."
As one of the means for the country to control air pollution, new energy vehicles are the target of current car companies, but the government-led new energy subsidy policy has expired last year, and the government needs to formulate new subsidy policies.
Zhang Xiaoyu said that he hopes that the new energy vehicle subsidy policy will be introduced earlier. "Now it has affected the sales of the company because it is a subsidy in the sales cycle. The car made by the company is not bought. Don't you worry about it?"
According to the new energy subsidy pilot policy implemented between 2009 and 2012, the state provides subsidies for new energy vehicles, and local governments subsidize them by 1:1. The pilot policy was initially piloted in 5 major cities and expanded to 25 pilot cities in 2010. After the subsidy policy expired at the end of last year, subsidies for the New Deal have been delayed.
Founder Securities researcher Liu Weiyuan explained that due to the subsidy breaks, sales of domestic new energy vehicles were not ideal in the first 8 months of this year, and in some places there was a situation where manufacturers provided subsidies. According to incomplete statistics from China Association of Automobile Manufacturers, in the first half of 2013, only 5,889 new energy vehicles were sold nationwide, most of which were used in the public domain, and private consumption was minimal.
New Deal breaks local protection
The new version of the subsidy policy has four major highlights: First, the subsidy will be based on vehicle power as a standard, and will no longer be classified as if it were the original model; Second, the new subsidy policy will continue until 2015, and the continuously determined policy will develop for emerging industries. It is crucial; Third, the new policy will no longer mandate subsidy from local governments. Instead, the central government will uniformly distribute subsidy payments. Fourth, the original subsidy will only be used for pilot cities, and the new policy will be extended to the whole country and the standards will be unified.
In the eyes of the investment industry, the introduction of the New Deal is expected to significantly stimulate the sales of new energy vehicles. Excluding the impact of the new energy auto industry, the subsidy New Deal, especially the nationwide sales subsidy policy, will significantly increase the market competitiveness of new energy vehicles. Comparing the sluggish sales of new energy vehicles in the previous eight months, the new government may have sales blowouts after its introduction.
According to Ouyang Yu Securities, the most direct beneficiary of subsidies for the New Deal should be new energy vehicle manufacturers, especially BYD and Ankai, the leading companies in the domestic market. It is not mandatory for local governments to subsidize, and local divisions can be broken. Take BYD as an example. Afterwards, BYD does not have to “strongly urge†investment to set up factories in order to obtain local subsidies for new energy vehicles. In addition, the subsidy policy is expanding from a few pilot cities to the national market, which can greatly enhance the market competitiveness of new energy vehicles.
Indeed, since the relevant national department issued the “Circular on Implementing Private Subsidy for Subsidies for New Energy Vehicles†in May 2010, the subsidies for new energy vehicles in various places have been significantly different. For example, Shenzhen’s subsidy on national government is based on dual-mode. An additional 30,000 yuan for electric vehicles is subsidized, and an additional 60,000 yuan is subsidized for pure electric vehicles, while similar Guangzhou subsidizes only 10,000 yuan for electric vehicles.
“This differentiation reflects the fact that 'local governments only subsidize local companies', which has led to the current unsatisfactory development of the new energy vehicle market,'†said industry experts. According to data from the China Automobile Association, only 12,791 new energy vehicles (11,375 pure electric vehicles and 1,416 hybrid electric vehicles) were sold in China in 2012, and China’s 2015 target is 500,000.
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