New energy car companies face the pattern of survival of the fittest

The new energy subsidy new policy has appropriately raised the threshold of technical indicators, focusing on supporting high-quality products with excellent energy consumption and high technical level, and encouraging enterprises to pay attention to safety and consistency.

At the same time, the implementation of the New Deal has also accelerated the industry's “shuffle”. Low-end enterprises that depend on subsidies for survival are destined to be eliminated. New energy vehicle companies can only accelerate the innovation drive and enhance product strength, so as to hedge the impact of subsidies.

The highly anticipated financial subsidy policy for new energy vehicles has finally been introduced. On the 26th, the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, and the Development and Reform Commission jointly issued the Notice on Further Improving the Financial Subsidy Policy for the Promotion and Application of New Energy Vehicles, and clarified the subsidy standards and liquidation methods for new energy vehicles in 2019. Compared with the past subsidy policy, what specific changes in the New Deal will have an impact on the industry, and how should the company respond?

Pure electric vehicle repair reduced by nearly half

In 2019, the New Deal proposed that the driving range of the pure electric passenger car should be no less than 250 kilometers, and the plug-in hybrid passenger car (including the extended program) should have a driving range of not less than 50 kilometers. It is divided into "two gears" of 250 to 400 kilometers and more than 400 kilometers. The subsidy amount is 18,000 yuan and 25,000 yuan respectively. The subsidy amount for plug-in hybrid passenger vehicles (including incremental programs) is 10,000 yuan.

In the previous year, except for the subsidies for vehicles under 150 km, the subsidies for pure electric vehicles were divided into “four gears” with a cruising range of 150 to 200 km, 200 to 250 km, 250 to 300 km, and 300 to 400 km and above. The amount is 15,000 yuan, 24,000 yuan, 34,000 yuan and 45,000 yuan, and the subsidy amount for plug-in hybrid passenger vehicles (including incremental programs) is 22,000 yuan.

“Compared with the previous year, the subsidies for pure electric passenger vehicles have decreased by nearly half.” Cui Dongshu, secretary-general of the National Passenger Car Association, said that this policy is different from the previous year’s significant increase in the energy density threshold of new energy vehicles’ power battery systems. The principle of advanced technology, reliable quality and safe security, appropriately raise the threshold of technical indicators, keep the upper limit of technical indicators basically unchanged, and focus on supporting high-quality products with excellent energy consumption and high technical level, while encouraging enterprises to pay attention to safety, consistency.

Subsidized funds are timely pre-allocated

In response to the problem of unsatisfactory payment of subsidy funds, the new policy proposed to improve the liquidation system and improve the efficiency of funds. It is required that starting from 2019, after the completion of sales, the vehicles with operating mileage requirements will be pre-allocated to meet the mileage requirements. You can apply for liquidation according to the procedure. After the policy is released, the vehicles with the mileage requirements for the operation of the license will not be subsidized if they operate less than 20,000 kilometers within 2 years from the date of registration, and the funds will be deducted at the time of liquidation.

It is understood that the subsidies for new energy vehicles are divided into central financial subsidies and local financial subsidies. After the central government subsidies are submitted for application for official documents and materials, they must be approved and inspected by the National Development and Reform Commission, the Finance Committee, the Ministry of Industry and Information Technology and the Ministry of Finance; In many cities, the reporting process varies. Some enterprises report that compared with the central financial subsidies, the local financial subsidies have many application procedures and long processes, and the release schedule is more difficult to determine.

"If there is no cash flow, and financing is difficult, it will affect the bank's guarantee and mortgage. The layered superposition will constitute an increase in the investment cost of the car enterprises, and will also bring some pressure on the operation of upstream batteries and other enterprises." Cui Dongshu said that the new energy The vehicle enterprise itself needs cash flow. The subsidy policy clarifies the rules for timely payment of subsidy funds, so that enterprises can develop and promote the market with peace of mind, thus achieving sustainable development.

Local financial exit subsidy

The new policy also clearly states that local governments should improve their policies. After the transition period, they will no longer subsidize new energy vehicles (excluding new energy buses and fuel cell vehicles) and use them to support charging (hydrogenation) infrastructure. "Construction and supporting operations and other aspects. If the local government continues to grant subsidies for purchase, the central government will deduct the relevant financial subsidies accordingly.

"This means that local finance will withdraw from subsidies for vehicle companies. The policy of subsidies based on financial subsidies will shift more to the non-financial system, focusing on optimizing the development environment of new energy vehicles, including road rights and charging facilities. Power battery recycling, commercial insurance, used cars, etc. At the same time, this will help reduce local protectionism.” Cui Dongshu said that China’s policy of encouraging the development of new energy vehicles is a systemic policy aimed at realizing national and local new energy vehicles. The policy supports the system to ensure that after the subsidy is completely withdrawn in 2021, the new energy vehicle products still have certain advantages over the traditional fuel vehicle policy environment, and promote the establishment of a market-oriented independent new energy vehicle selection system.

In addition, the transitional policy also allows car companies to have a reasonable layout and time period for calibrating new products.

New Deal has different reactions

"The strength of the retreat is expected, and the impact on the company is not too big." Zhao Changjiang, general manager of BYD Auto Sales Co., Ltd. said that enterprises can only better hedge their subsidies if they accelerate the innovation drive and enhance product strength. The impact of the slope.

However, many industry insiders also said that with the increase in subsidies, the new energy vehicles that were originally developed at a high speed have added a lot of uncertainty. Chen Hong, chairman of SAIC, bluntly said that if there is no subsidy, China's new energy vehicle market will see a significant decline.

“After the subsidies for new energy vehicles have subsided, car companies can 'replace' from other aspects.” Jia Xinguang, executive director of China Automobile Dealers Association, proposed that power batteries occupy a very important position in the manufacturing cost of new energy vehicles. If the cost of the battery can be reduced, the impact of subsidies on the market will be weakened.

"For a strong enterprise, it may not be a good thing. The subsidy will be dialectically." Gu Huinan, general manager of Guangzhou Automobile New Energy, told reporters that with the gradual withdrawal of financial subsidies, the reshuffle of new energy vehicles is coming, and those relying on subsidies survive. The low-end enterprises are destined to be eliminated, and they must stand out from the market and provide excellent products with market-competitive products.

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