Di Yi Cai Jing·2025-08-18 10:33Core Insights - The Ministry of Industry and Information Technology (MIIT) has published a report on the final audit of subsidy funds for the promotion of new energy vehicles (NEVs) from 2016 to 2020, highlighting the rapid development of China's NEV industry during this period and the significant support from subsidy policies [1][8] Subsidy Distribution - From 2016 to 2020, MIIT issued a total of 1.65 billion yuan in subsidies, with Beijing New Energy Vehicles receiving approximately 555.55 million yuan, accounting for over 30% of the total [1][4] - BYD received a total of 15.74 million yuan, representing less than 1% of the total subsidies, while other major companies like Chery and Tesla received 34.66 million yuan and 3.59 million yuan respectively, both under 3% of the total [4][5] Regional Analysis - Six regions received over 100 million yuan in NEV promotion subsidies, with Beijing leading at over 700 million yuan, followed by Zhejiang with approximately 303 million yuan, and Hubei and Sichuan each receiving around 130 million yuan [2][8] - Guizhou province received no subsidies during the five-year period, indicating disparities in regional support for NEV development [2] Subsidy Reduction - Chery, Beijing New Energy Vehicles, and BYD had the highest cumulative subsidy reductions, amounting to approximately 237 million yuan, 163 million yuan, and 145 million yuan respectively [3][5] - The main reasons for subsidy reductions included non-compliance with documentation requirements, incorrect vehicle registration information, and failure to meet policy standards [3][5] Future Trends - The NEV market is expected to continue its growth trajectory, with sales projected to rise from 3.52 million units in 2021 to 12.87 million units by 2024, reflecting a compound annual growth rate of 38.2% [11] - By 2025, NEV sales are anticipated to reach around 16.5 million units, with a penetration rate exceeding 50% [11]