Di Yi Cai Jing·2025-07-09 13:55Core Viewpoint - The Ministry of Industry and Information Technology has released a public notice regarding the audit of subsidy funds for the promotion and application of new energy vehicles from 2016 to 2020, indicating a dynamic adjustment of subsidies to prevent companies from becoming overly reliant on them [1][5][6]. Group 1: Subsidy Adjustments and Company Performance - Many car manufacturers received less subsidy than they applied for between 2016 and 2020 due to non-compliance with application requirements or failure to upload operational data [1][4]. - BYD received an average annual subsidy of 3.76 million yuan from 2016 to 2020, with a peak in 2019 at 8.11 million yuan, but had nearly 5,000 fewer vehicles approved than applied for, resulting in a subsidy reduction of approximately 142 million yuan [2][3]. - Changan Automobile averaged about 1.48 million yuan in subsidies annually, with a peak in 2019, but saw a reduction of around 438 vehicles and a subsidy decrease of about 13.27 million yuan [3]. - Beijing New Energy Automobile Co., Ltd. averaged 12.4 million yuan in annual subsidies, with a peak of around 30 million yuan in 2017, but had a reduction of about 2,776 vehicles and a subsidy decrease of approximately 97 million yuan [3]. Group 2: Industry Growth and Market Dynamics - The new energy vehicle market in China has seen significant growth, with production and sales exceeding 500,000 units in 2016, and sales reaching 1.367 million units in 2020, marking a penetration rate of 5.4% [5]. - The penetration of new energy vehicles into the private consumer market has increased significantly, with private consumption accounting for about 70% [5]. - The subsidy policy for new energy vehicles has been dynamically adjusted since 2016, responding to technological advancements and market conditions, to avoid creating a dependency on subsidies among manufacturers [5][6]. - The adjustment of subsidy standards includes raising entry thresholds based on vehicle energy consumption, range, and battery performance, while also cracking down on fraudulent subsidy claims [6].