On May 17th, the "public notice on preliminary verification of subsidies for the promotion and application of new energy vehicles in 2016" (hereinafter referred to as "public notice") released by the Ministry of Industry and Information Technology website shows that more than 50 funds involved a total of 8,978 new energy vehicles for various reasons. Will cancel subsidies or cut subsidies, involving funds of 555 million yuan, including BYD, JAC, Chery, Volvo, SAIC and other car companies.
In this regard, Volvo relevant responsible person said that it is not clear where the problem lies, the company's relevant departments have been further communication with the Ministry of Industry and docking. BYD responded by stating that there were mistakes in submitting the materials of the relevant vehicles. In the filing of the documents, the situation was explained as normal. In addition, some car companies also told reporters that the reason for the failure of the subsidy review was due to mistakes in the submission of materials, including incorrect input of parameters and formats, rather than product quality issues. In response to this situation, the company Has communicated with the Ministry of Industry and Information Technology.
“However, from this review, it can be seen that after experiencing fraudulent claims and the emergence of various security issues, the government has further strengthened the supervision of the entire industry, including the verification of financial subsidies and the tightening of technical conditions.†The relevant person in charge of a car company pointed out in an interview with reporters that this is not only reflected at the level of the relevant ministries and commissions of the country, but also the access of some local governments has become more stringent.
An analyst in the new energy automobile market said: "Only 85,000 vehicles meet the first-round subsidy standard. This figure does not meet expectations, indicating that the country's review of new energy vehicles has greatly increased."
Subsidy verification tightened
In fact, since the swindling incident was exposed in January last year, the entire industry's inventory has been fully carried out.
Strictly punished the fraudulently supplemented enterprises, and toppled the promotion of the first to the fifth batch of new energy vehicle promotion catalogues by the Zhonghua Vehicle Technical Service Center, and finally issued the “Adjustment of Financial Subsidy Policies for the Popularization and Application of New Energy Vehicles†by four ministries and commissions at the end of last year. The "Notice" (hereinafter referred to as the "Notice") revise the method of issuing financial subsidies for new energy vehicle enterprises: It stipulates that the subsidies for new energy vehicle companies should be changed from the previous pre-delivery and liquidation to the first liquidation and re-disbursement, and the four ministries again at the end of March this year. Jointly issued the "Circular on the Implementation of 2016 Liquidation of New Energy Vehicle Subsidy Funds."
The reporter learned that multiple actions fully demonstrated the strength of subsidy inspections and the continuously tightened technical indicators.
According to the data from Publicity, the company has filed a total of 94,072 vehicles, involving 6.415 billion yuan in subsidies. Among them, 8,978 vehicles were canceled subsidies or reduced subsidies because of the inconsistency between battery and motor parameters and the bulletin list, and the accumulated mileage did not reach 30,000 kilometers.
According to the "Notice" issued at the end of last year and the "New Energy Vehicle Promotion Subsidy Program and Product Technical Requirements" issued at the end of last year, higher access thresholds and technical conditions have been set for battery energy density, cruising mileage, and performance levels. In addition, it also stipulates that “new energy vehicles purchased by non-individual users should apply for subsidies, and the accumulated mileage must reach 30,000 kilometers (except for special vehicles for operation). Subsidy standards and technical requirements shall be implemented in accordance with the vehicle’s annual driving license.â€
The review of the subsidy funds reflects the high difficulty of the indicators on the speed, especially on the standards of production consistency and cumulative mileage of 30,000 kilometers. It is not easy to meet the established standards.
Increased corporate funding pressure
It is worth noting that this large-scale verification involving the entire industry has been extended from the central level to the local government level.
Recently, the official website of the Guangdong Provincial Development and Reform Commission announced the "Circular on Strengthening the Verification of Provincial-level Subsidy Funds for New Energy Vehicles in 2015", requiring all localities and cities to carry out inspections of the provincial subsidy funds for new energy vehicles in 2015. It is reported that the focus of this verification is on whether new-energy vehicles have idled end-user vehicles, as well as fraudulent local subsidies for vanity vehicles.
On May 4, the Hunan Economic and Information Technology Commission announced the province's production of vehicles for the province's new energy vehicles in 2015. The announcement showed that there were 1185 vehicles in total (including 195 vehicles with idle problems for end customers, and 990 vehicles with affiliates and dealers).
“From the national ministries and commissions to the inspection of local governments is very strict. From this perspective, this industry-wide inspection that lasted for more than a year made it impossible for most companies to obtain full subsidies, not only 'national supplements'. There are also 'local supplements'," said a person in charge of a car company, which made the company's financial pressure further increase.
The reporter learned that since the end of December last year, most companies have successively obtained 2015 new energy "national subsidies."
“But this part of the subsidies in 2015 was used to pay suppliers. After the subsidy was changed to liquidation and re-disbursement, the cash flow of the company became more difficult.†A bus company official told reporters that in 2016, The timing of subsidies by 2015 was more than half a year later than the previous year. With the requirement of a 30,000-kilometer policy, the time to get a subsidy was even more uncertain. “At present, many companies can only use their debt to finance their business.â€
Recently, Yutong Bus issued an announcement stating that in order to meet the company's future operating and development funds, the company will be registered to issue long-term medium-term middle-term notes and overseas medium-term notes.
“Large car companies, especially listed companies, can raise funds through different methods, but they are very risky for small businesses, especially those who only do electric vehicles individually. Cars can't be sold and subsidies can't be obtained. "Chain risk." An industry source pointed out that from this perspective, the current new energy auto industry is still a policy orientation, and subsidies are related to the company's living conditions.
“However, the biggest problem at present is that the direction of encouraging industrial development has not been completely clarified, and many local subsidy policies have not yet been settled. This will affect the production and sales of the company.†Indicated.
According to data from the China Automobile Association, in the first four months of this year, China's new energy vehicles sold a total of 90,400 vehicles, a year-on-year drop of 0.2%.
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