Xi Niu Cai Jing·2025-07-16 06:50Core Insights - The Ministry of Industry and Information Technology (MIIT) has published a report on the preliminary audit of subsidy funds for the promotion of new energy vehicles (NEVs) from 2016 to 2020, revealing significant reductions in subsidy amounts for several automakers, particularly BYD and Chery, which saw reductions exceeding 140 million yuan [2][4] Summary by Category Subsidy Application and Approval - The total number of NEVs reported by domestic automakers from 2016 to 2020 was 75,814, while the approved number was only 54,089, indicating a substantial gap [3] - The total subsidy funds applied for by automakers amounted to approximately 2.93 billion yuan, with the approved subsidy funds around 2.07 billion yuan, resulting in a discrepancy of about 860 million yuan [3] Specific Automaker Impacts - BYD, which has consistently received subsidies over the past five years, averaged 3.76 million yuan annually, with a peak of 8.11 million yuan in 2019. However, the actual number of subsidized vehicles was reduced by nearly 5,000, leading to a subsidy reduction of approximately 142 million yuan [3][4] - Changan Automobile received an average annual subsidy of about 1.48 million yuan, with a reduction of 438 vehicles and a subsidy decrease of around 13.27 million yuan [3] - Beijing Electric Vehicle Company averaged 124 million yuan in annual subsidies, with a reduction of 2,776 vehicles and a subsidy cut of about 97 million yuan [4] - Chery faced a subsidy reduction exceeding 140 million yuan, with 6,411 vehicles disqualified in 2016 due to discrepancies in energy storage device specifications, amounting to 288 million yuan [4] Industry Trends and Implications - The audit highlights vulnerabilities in the subsidy application process among certain companies, with BYD and Chery having previous issues related to subsidy reductions due to non-compliance [4] - The MIIT's actions signal a need for automakers to reduce their reliance on subsidies, emphasizing the importance of technological advancement over subsidy competition for sustainable growth in the industry [4]