After the opening on April 22nd, Dongfeng Motor (600006) issued an announcement that the company received 320 million yuan of subsidies for the promotion and application of new energy vehicles in 2016-2018 allocated by the Xiangyang Municipal Finance Bureau on April 22. The subsidy received this time will directly write off the company's accounts receivable, will not affect the company's current profits and losses, and will have a positive impact on the company's cash flow.
Battery Network noted that following the announcement issued by Dongfeng Motor on March 15 this year, after receiving a total of 545 million yuan in national subsidies for the promotion and application of new energy vehicles, this is the second time that the company has received a national subsidy for the promotion of new energy vehicles this year. So far, the company has received a total of 865 million yuan in national subsidies for the promotion of new energy vehicles this year.
It is reported that Dongfeng Motor has started the research and development of new energy vehicle products since 2005, and the strategic goal of new energy is to create a leading brand of new energy commercial vehicles in China. It is the earliest enterprise in China to engage in the demonstration operation of new energy and realize the commercialization of new energy. At present, the company's new energy products cover public transport, highways, urban logistics, special vehicles and other market segments.
According to the data of Dongfeng Motor's annual report for 2020, the company sold 7188 new energy vehicles for the whole year, and its operation continued to improve. In 2020, Dongfeng Motor's new energy vehicle product income was 961 million yuan, down 63.48 percent from the same period last year, but its gross profit margin increased by 2.58 percent over the previous year.
It is worth noting that on April 17, Dongfeng Motor released the "Oriental Wind" plan and the "transition Action" of scientific and technological innovation. In the field of new energy, the company will comprehensively advance in the areas of core assembly, vehicle platform architecture, recharging technology and hydrogen energy, and continue to carry out technological innovation and new business model exploration. By 2024, the company will achieve 100% electrification of new models of the main passenger car brand, helping the country to achieve the goal of carbon peak in 2030 and carbon neutralization in 2060. In the field of intelligent driving, during the 14th five-year Plan period, Dongfeng Automobile will speed up the innovation and application of new technologies, realize the large-scale demonstration application of L4 intelligent network-connected vehicles, and master the key core technologies of L5-level intelligent network-connected vehicles.
In addition, Battery Network learned from Dongfeng Automobile that as a "vanguard" of the domestic automobile industry, the company began to lay out the development of fuel cell vehicles early and made breakthroughs in the fields of complete vehicles, fuel cell systems, batteries, core key components, and so on.
At the just held Shanghai Auto Show, Dongfeng Motor displayed a Dongfeng fuel cell stack system with integrated structure design, which has the characteristics of small size, lightweight and high hydrogen utilization rate, of which the hydrogen utilization rate is up to 95%. The overall efficiency is 5% to 10% higher than that of the industry. The company said that after more than two years of research and development, the Dongfeng hydrogen boat equipped with Dongfeng fuel cell stack system completed the national announcement in December last year. At the end of 2021, 100 Dongfeng hydrogen fuel cell vehicles will be demonstrated in Foshan, and the demonstration scale will be expanded year by year in 2022 to promote the large-scale and high-quality development of hydrogen energy industry.
Dongfeng Motor said that the company has always attached great importance to the development and technology accumulation of fuel cell vehicles, taking fuel cell vehicles as one of the future strategic directions, and has built a laboratory with a leading level in China, covering basic materials, core components and system development requirements, built the first fully automatic unmanned stack and system process verification line in China, and mastered the batch production process of the stack. At the same time, we will carry out technical cooperation with well-known fuel cell parts and vehicle enterprises at home and abroad to continuously improve the development capability and technical reserve of Dongfeng fuel cell vehicles.
