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[SMM Analysis] New Energy vehicle Policy is good for Industry short-term response is not good
Apr 12,2020 18:38CST
The content below was translated by Tencent automatically for reference.

SMM, 31 March:

On March 31, the executive meeting of the State Council decided to extend the policy of subsidy and exemption from purchase tax on the purchase of new energy vehicles for two years.

In addition, three major policies were subsequently issued: the Ministry of Industry and Information Technology relaxed the access conditions for new energy vehicle manufacturers and products, charging piles were included in the "new infrastructure", and the industry norms / management measures for the comprehensive utilization of waste power batteries were issued. The state level continues to strengthen its support for the new energy vehicle industry.

At a news conference on the joint prevention and control mechanism of the State Council held on April 9, Sun Guangqi, director of the Economic Construction Department of the Ministry of Finance, answered questions related to subsidies.

Sun Guangqi said that the central government has subsidized the purchase of new energy vehicles since 2009 and exempted from vehicle purchase tax on new energy vehicles from September 1, 2014. The two policy plans expire at the end of this year. Under the relevant policies and the efforts of all parties, China's new energy vehicle industry has gradually grown from scratch, and has been the first in the world in terms of production and sales for five consecutive years.

Sun Guangqi said: in view of some problems still existing in the development of the industry, in order to promote automobile consumption, the executive meeting of the State Council on 31 March this year decided to extend the two preferential policies of subsidizing the purchase of new energy vehicles and waiving vehicle purchase tax, which expire at the end of this year, for two years, mainly because of the following considerations: first, to help solve problems and promote high-quality development of the industry. The second is to comply with the development trend and improve the comprehensive competitiveness. The third is to hedge the impact of the epidemic and promote car consumption.

Sun Guangqi also said that charging facilities are necessary facilities for the development of new energy vehicles, and in recent years the Ministry of Finance, together with relevant departments, has vigorously supported the construction of charging facilities.

"the policy has achieved certain results, and the number of charging piles in China will reach more than 1.2 million by the end of 2019. However, charging facilities are still short boards. In the next step, we will study the reward and subsidy policy for optimizing the construction of charging facilities, further mobilize local enthusiasm, speed up the construction process, and change the situation of more cars and fewer piles as soon as possible. to create a good environment for the consumption of new energy vehicles. " Sun Guangqi said.

According to the industry to SMM, the current upstream and downstream of the new energy industry chain has a weak response to the recent positive policies. On the one hand, the current global industrial development is subject to epidemic control, based on liquidity considerations, terminal consumption power is insufficient; on the other hand, at present, China supports both the traditional automobile industry and the new energy automobile industry at the same time. In the current economic environment, the industry trend reflected in the policy is stronger than the direct financial subsidy stimulus.


SMM Battery Materials Research team

Hu Yan 021-51666809

Qin Jingjing 021-51666828

Mei Wangqin 021-51666759

Huo Yuan 021-51666898

Wuyang 021-51666818

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