MIIT: Renewal of NEV Subsidies Shall be Confirmed ASAP to Support Market Development

SHANGHAI, Jan 19 - On January 18, the Department of Energy Conservation and New Energy Vehicle Industry Development held an inter-ministerial meeting to summarise the work in 2021, analyse and study the current situation, and work out key tasks in 2022.

It is pointed out at the meeting that that at present, the NEV market has performed well in terms of market scale and development quality, with a total NEV sales of 3.52 million units in 2021, an increase of 1.6 times year-on-year. China’s vehicle production and sales finally put an end to the declining trend that lasted for three consecutive years, and ranked first in the world for seven straight years, with Chinese brands accounting for 76% of domestic sales.

The innovation capacity was significantly improved, and the arithmetic power of in-vehicle LiDAR and artificial intelligence chips reached the international advanced level. The supporting facilities continued to be optimised, and the construction of charging and swapping infrastructure was further increased, with 936,000 charging piles, 14,000 charging stations and 725 swap stations, representing a year-on-year increase of 193%, 90% and 356% respectively. More than 10,000 power battery recycling service outlets were set up; and 45 backbone enterprises for battery repurposing and recycling were cultivated.

The meeting stressed that 2022 is a key year for China's NEV market to ride on the momentum and accelerate the development, and to make new contributions to expanding consumption and stabilising the industrial economy. It is necessary to follow the carbon peak and carbon neutrality target, work out a roadmap for the green development of the automobile industry, conduct early research to clarify supporting policies such as the renewal of NEV subsidies, improve point management requirements and stabilise market expectations.