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2018 likely to be watershed for NEV companies

Echo From Gasgoo| December 20 , 2017

China NEV market, China NEV policy, China NEV subsidy, China dual-credit system

Shanghai (Gasgoo)- On December 15th, Lu Huaping, the assistant to Secretary General of the China Passenger Car Association, revealed that, the new energy vehicle subsidy policy will be further tightened up. China government is discussing the policy adjustment in 2018, and they intend to give privileges to vehicle models with long range and low energy consumption. Meanwhile, it's very likely that the local subsidy will be cancelled.

As people's living improves with the development of society, people all pay attention to the development of new energy vehicle (NEV) since it is convenient and consumption-efficient. Therefore, the news about NEV policy may bring great influence on as well as new challenges to NEV industry.

It's obvious that the new energy subsidy has been shrinking. Moreover, the government will raise the bar of subsidy approval. Under such a condition, enterprises have to rely on themselves independently in the future. In other words, only competent enterprises can survive the tough situation, while some may end with failure. Therefore, next year is very likely to be a watershed for the NEV industry.

Big auto companies, like BYD, experienced in production, technology, sales, marketing, channels and branding, will boast leading advantages after they implement their new strategies and plans.  

Many companies have successively announced their new strategies for NEV. For example, Changan is ambitious to ban the sales of conventional cars by 2025; Chery launched its new NEV model EQ1, and envisioned it as "a dream in NEV industry", which was a prelude to its further efforts in NEV area; and Geely launched "Blue Geely Action", claiming that the NEV products will account for over 90% by 2020.

It's reasonable to believe that many auto companies will make corresponding adjustment to their strategies after the release of new policies about NEV. More important, the emerging vehicle renting and sharing platforms will provide more opportunities as well as competition possibilities for NEV industry, which will attract more efforts and dedication of various auto companies into NEVs.

Gasgoo not only offers timely news and profound insight about China auto industry, but also help with business connection and expansion for suppliers and purchasers via multiple channels and methods.

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