[four ministries and commissions issue a new policy on subsidies for new energy vehicles: the price of passenger vehicles must be less than 300000 yuan before the subsidy.] recently, 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 a notice on improving the Financial subsidy Policy for the Promotion and Application of New Energy vehicles. The notice said that combined with technological progress, economies of scale and other factors, the implementation period of the financial subsidy policy for the promotion and application of new energy vehicles will be extended to the end of 2022. In principle, the subsidy standard for 2020-2022 will be 10%, 20% and 30% respectively on the basis of the previous year.

[BYD and Hino signed a strategic agreement to cooperate in the development of pure electric commercial vehicles] on the afternoon of April 23, BYD Co., Ltd. and Hino Automotive Co., Ltd. today signed a strategic business alliance agreement, focusing on the cooperative development of pure electric commercial vehicle (BEVs). The two sides will speed up the development of pure electric commercial vehicles to provide customers with the highest quality products. At the same time, the two sides will also take the cooperation in the development of pure electric commercial vehicles as an opportunity to fully combine the technical and experience advantages of the two sides in the field of pure electric commercial vehicles, and carry out in-depth cooperation in retail and other related business, in order to promote the popularization of pure electric commercial vehicles.

[Volkswagen: ID.3 is about to resume production in a German factory] it is reported that Volkswagen will resume production of ID.3 on April 23, German time, and the plant has already resumed production. According to previous reports, the first batch of about 30, 000 ID.3 will be delivered in the summer of 2020, and officials have not yet said the delivery time has been delayed.

[Shanghai: study and formulate several policies to promote automobile consumption in Shanghai around six aspects] at a press conference held on the afternoon of April 23, the Shanghai Municipal Development and Reform Commission said: (1) to increase the supply of license plates (40,000 non-commercial bus quotas by the end of this year), the Shanghai Municipal Development and Reform Commission (NDRC) said at a press conference on the afternoon of April 23, focusing on six aspects, it has formulated several policies to promote automobile consumption in Shanghai. (2) subsidies are given to fuel vehicles "old for new" (Shanghai consumers scrap or transfer to emission standard fuel vehicles of emission standard 4 or below, and 4000 yuan subsidy is given to each vehicle for the new purchase of national six emission standard fuel vehicles); (3) to give "charging subsidy" to consumers who buy new energy vehicles (5000 yuan for charging expenses incurred by consumers in the process of using new energy vehicles); (4) to expand the application scale of new energy vehicles; (5) to improve the charging (replacement) infrastructure, and (6) to create an intelligent automobile consumption environment.

[Linda Lithium produced 2.73 tons of spodumene concentrate in 2019 and gradually processed 15.7 tons of raw ore] recently, Rongjie shares disclosed the 2019 annual report, which reported that the combined company realized operating income of US $270 million, a continuous decline of 29.53%; the net profit attributable to shareholders of listed companies was US $326 million, compared with 7.0363 million yuan in the same period of the previous year. As a lithium mining and dressing business platform of the company, Rongda lithium industry has a pegmatite type spodumene deposit with the best mining conditions and the connection of internal resources and reserves, and it is a rare high quality lithium ore resource in China. At present, Rongda lithium has formed the mining and dressing capacity of 45 ores / year ore treatment. Through various efforts to recover the lithium mine in June 2019, the company gradually expanded the treatment of 15.7 tons of raw ore and produced 2.73 tons of spodumene concentrate in 2019 as a whole of the lithium electric material industry of the company.

[Fu Neng Science and Technology growth Board successfully planned to raise 3.437 billion to expand the production of power batteries] recently, the Shanghai Stock Exchange released the results of the 9th review meeting of the Section growth Board listing Committee, and Fu Neng Technology was successful. Funeng Technology is the first power battery enterprise to declare the growth board of the company, and plans to raise no more than 3.437 billion yuan, mainly for the annual production of 8GWh lithium-ion power battery project (Funeng Zhenjiang Phase III Project) and supplementary working capital projects.

[expected to deliver Weilai's first car next year or launch at the end of the year] A few days ago, Qin Lihong, co-founder of Weilai Automobile, revealed on the live broadcast platform that Weilai is working overtime to release the "next generation car" on NIODay at the end of this year. He did not disclose the exact model of the sedan, but combined with the Weilai ETPreview sedan unveiled at the 2019 Shanghai Auto Show, we speculate that the model may be the Weilai ET7.

SMM Cobalt Lithium small Metal 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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