A few days ago, the Ministry of Industry and Information Technology, the Ministry of Finance, and the State Administration of Taxation jointly issued the notice on adjusting the Technical requirements for New Energy vehicle products (hereinafter referred to as "the announcement"). Clarify the technical conditions and implementation requirements for the application of the vehicle purchase tax reduction policy for new energy vehicles after 2024.
The announcement said that the transition period is from January 1, 2024 to May 31, 2024. Models that have entered the catalogue of new energy vehicles exempted from vehicle purchase tax before December 31, 2023 and are still in force will be automatically transferred to the catalogue of new energy vehicles exempted from vehicle purchase tax. From June 1, 2024, vehicles that do not meet the technical requirements will be removed from the tax reduction and exemption catalogue.
The new announcement is more stringent than before, making adjustments in three aspects: pure electric mileage of pure electric passenger cars, mass energy density of power battery system and power consumption of 100 kilometers. It is understood that the maximum speed of pure electric passenger vehicles in 30 minutes is not lower than 100km/h, the driving mileage of pure electric passenger vehicles is not less than 200km, and the mass energy density of power battery system of pure electric passenger vehicles is not lower than 125Wh/kg.
The market believes that the new announcement will eliminate minicars. Take Chery QQ Ice Cream as an example, the comprehensive mileage of this model under NEDC conditions is 120km, 170km and 205km, in which the price of 205km models is 49900 yuan and 52900 yuan respectively, which means that low-range models will not meet the requirements of the new announcement. These models may increase prices in 2024, or directly cut low-range versions, or even these models may be extinct. After all, most car companies do not make money by launching subcompact cars. In short, the cost of buying such models will increase for consumers.
Why regulate minicars? The most important issue is development. In the past, minicars were the main force in the development of the pure electric vehicle market, especially when Hongguang MINIEV just came out, a large number of people took part in seizing this market, creating an atmosphere of new energy vehicle fire, but after 2023, the market paid more attention to the development of other types of vehicles, and the minicar market shrank massively. Sales of A00 cars fell 16% in the first November, accounting for only 4.3% of the market share. On the other hand, if China's electric car market wants to develop well, it also needs to develop technology, while the mini cars based on Hongguang MINIEV are lack of innovation, and more standardized market requirements will come out sooner or later. Therefore, the relevant part of the battery life of pure electric vehicles and other aspects of restrictions, is also expected.
In addition, the new announcement also makes more reasonable requirements for the power exchange mode, which is conducive to the development of this market. The new announcement points out that the relevant models need to provide third-party inspection reports that meet the standard requirements such as GB/T 40032 "Safety requirements for Electric vehicle replacement", as well as certification materials for production enterprises to ensure power exchange service: if an enterprise builds its own exchange power station, it is necessary to provide design drawings and ownership certificate of the exchange station; for entrusted exchange service, it is necessary to provide materials such as the model, matching certificate of the replacement station, and cooperation agreement between the two parties.
Since 2020, the relevant state departments have continued to promote the formulation of standards such as power stations and battery packs. At present, the most commonly used way of replenishing energy for new energy vehicles is charging and changing electricity. In contrast, changing electricity can not be achieved quickly, and it may even be faster than fuel vehicles, with higher efficiency. Although the layout of charging piles and charging stations is more extensive, but it takes a relatively long time.
From the point of view of the industry, the new round of car purchase tax relief policy is of great significance in promoting the recovery of people's livelihood demand, especially in stimulating the growth of the demand for first purchase and replacement of cars. Before the transition period, consumers can save a lot of money by buying new energy vehicles, which may stimulate consumers' motivation to buy new energy vehicles and bring a wave of best sales to car companies.
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