Mei Ri Jing Ji Xin Wen·2025-07-10 11:10Core Viewpoint - The Ministry of Industry and Information Technology (MIIT) has published a public notice regarding the audit of subsidy funds for the promotion and application of new energy vehicles (NEVs) from 2016 to 2020, revealing significant reductions in the actual subsidies received by various car manufacturers compared to their applications [1][4]. Summary by Relevant Sections Subsidy Audit Findings - The total number of NEVs reported by domestic manufacturers during the five-year period was 75,814, while the approved number was only 54,089 [4]. - The total amount applied for subsidy funds was approximately 2.93 billion yuan, but the approved amount was about 2.07 billion yuan, resulting in a difference of approximately 860 million yuan [4]. Specific Company Cases - BYD, one of the companies receiving subsidies, reported a significant reduction in actual subsidy amounts. In 2019, BYD applied for 83.035 million yuan but received only about 8.11 million yuan, a decrease of approximately 74.925 million yuan. Over the five years, BYD's actual subsidy amount was reduced by about 140 million yuan compared to its applications [6][7]. - Beijing New Energy Automobile Co., Ltd. also experienced a reduction of approximately 97.04 million yuan in actual subsidies compared to its applications during the same period [7]. Reasons for Subsidy Reductions - The main reasons for the reductions in subsidies were non-compliance with the requirements for vehicle-related documentation and failure to upload vehicle operation data as required [7][9]. Industry Trends - The NEV industry has transitioned from being heavily reliant on subsidies to a more self-sustaining model, focusing on core technological advancements and cost control. This shift is seen as a move from policy-driven growth to market-driven development [10][13]. - The sales of NEVs in China have shown significant growth, with 2020 sales reaching 1.367 million units, a year-on-year increase of 10.9%. Projections for 2024 estimate sales to be around 12.866 million units, reflecting a growth rate of 35.5% [10][13].