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

Published: Jan 19, 2022 14:01
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.

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.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Beijing Launches 500-kV Power Project in Fengtai, Boosting Grid Resilience and Industrial Growth
13 hours ago
Beijing Launches 500-kV Power Project in Fengtai, Boosting Grid Resilience and Industrial Growth
Read More
Beijing Launches 500-kV Power Project in Fengtai, Boosting Grid Resilience and Industrial Growth
Beijing Launches 500-kV Power Project in Fengtai, Boosting Grid Resilience and Industrial Growth
On January 28th, the construction of the 500-kilovolt power transmission and transformation project in Fengtai, Beijing officially started. This project is the first newly-built 500-kilovolt power grid project in Beijing during the 15th Five-Year Plan period. It will significantly enhance the resilience and power receiving capacity of the southern Beijing power grid and provide reliable power support for Beijing to continuously optimize the investment structure and vigorously develop high-end, precise, and cutting-edge industries. The 500-kilovolt power transmission and transformation project in Fengtai, Beijing is a key project of Beijing's power grid during the 15th Five-Year Plan period and one of the "3 100" key projects in Beijing this year. It is constructed and managed by the State
13 hours ago
Shaanxi-Anhui UHV DC Project's 500-kV AC System at Hezhou Station Begins Operation After Trial Run
13 hours ago
Shaanxi-Anhui UHV DC Project's 500-kV AC System at Hezhou Station Begins Operation After Trial Run
Read More
Shaanxi-Anhui UHV DC Project's 500-kV AC System at Hezhou Station Begins Operation After Trial Run
Shaanxi-Anhui UHV DC Project's 500-kV AC System at Hezhou Station Begins Operation After Trial Run
On February 1st, the 500-kilovolt AC system of the Hezhou Converter Station, the receiving-end station of the ±800-kilovolt UHV DC power transmission project from northern Shaanxi to Anhui, was officially put into operation after a 24-hour trial run.
13 hours ago
750-kV Power Line Connecting Northern to Central Shaanxi Fully Operational
13 hours ago
750-kV Power Line Connecting Northern to Central Shaanxi Fully Operational
Read More
750-kV Power Line Connecting Northern to Central Shaanxi Fully Operational
750-kV Power Line Connecting Northern to Central Shaanxi Fully Operational
On February 2nd, the 750-kilovolt power transmission and transformation project of the third passageway from northern Shaanxi to central Shaanxi was fully connected. The project starts from the 750-kilovolt Shuofang Substation in Shenmu City in the north and ends at the 750-kilovolt Bailuyuan Substation in Lantian County in the south. It has newly built a 1,271-kilometer line, passing through 18 counties (districts) in 4 cities including Yulin, Yan'an, Weinan and Xi'an.
13 hours ago