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to promote electric vehicles in rural markets as it looks for further to boost electric vehicle industry","china-to-promote-electric-vehicled-to-rural-markets-as-it-looks-for-further-to-boost-electric-vehicle-industry","article/china-to-promote-electric-vehicled-to-rural-markets-as-it-looks-for-further-to-boost-electric-vehicle-industry",{"_uid":557,"date":558,"tags":559,"editor":563,"content":573,"excerpt":628,"featured":50,"reporter":629,"_editable":633,"component":634,"seo_title":553,"categories":635,"visibility":642,"author_company":49,"featured_image":643,"seo_description":628,"author_full_name":49,"author_job_title":49,"formattedDate":648,"formattedArticleDate":649},"e11aedab-ad55-4585-b6b3-9cb0062eb682","2020-07-24 00:00",[560],{"slug":561,"name":562},"china","China",[564],{"slug":565,"name":566,"content":567},"didi-bostock","Didi Bostock",{"job_title":568,"image":569,"bio":571,"linkedin":572},"Editor - Energy Transition & Economics",{"filename":570},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":574,"content":575},"doc",[576,583,588,593,598,603,608,613,618,623],{"type":577,"attrs":578,"content":579},"paragraph",{"textAlign":49},[580],{"text":581,"type":582},"China’s Ministry of Industry and Information Technology (MIIT) has this month announced a promotional push to increase new energy vehicle (NEV) sales in rural areas through the second half of 2020. The notice will require all local governments to coordinate and publish their own promotional policies, with ten Chinese NEV OEMs expected to publish measures in support of the policy.","text",{"type":577,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":582},"The latest move reflects a change in the Chinese government’s approach to building out and supporting the electric vehicle (EV) industry brought about by the economic impacts of the coronavirus.",{"type":577,"attrs":589,"content":590},{"textAlign":49},[591],{"text":592,"type":582},"Previously China’s plan was to steadily reduce subsidies – removing them altogether in 2020 – as part of its efforts to push the industry towards higher quality batteries with higher energy density.",{"type":577,"attrs":594,"content":595},{"textAlign":49},[596],{"text":597,"type":582},"However, the coronavirus has forced Beijing to pullback its subsidy reduction and it has extended the national subsidies program by two years to the end of 2022. The altered subsidy regime, announced at the end of April, will see subsidies reduced by 10% in 2020, 20% in 2021 and 30% in 2022 before being removed altogether for the start of 2023. Subsidies will be more generous in areas that will encourage electrification of public transport, which will see no change in 2020, but will reduce by 10% in 2021 and 20% in 2022.",{"type":577,"attrs":599,"content":600},{"textAlign":49},[601],{"text":602,"type":582},"National government support has been phased out completely for vehicles with less than 300km range, whereas vehicles with a range in excess of 300km receive increasing levels of subsidies depending on the range bracket in which they sit.",{"type":577,"attrs":604,"content":605},{"textAlign":49},[606],{"text":607,"type":582},"While the removal of subsidies has been delayed, the government’s goal remains the same, which is to transition the battery industry towards higher quality batteries rather than focusing on quantity, which is why vehicles with a higher range receive greater subsidies.",{"type":577,"attrs":609,"content":610},{"textAlign":49},[611],{"text":612,"type":582},"But with the phasing out of subsidies at a national level the central government is expecting regional governments to extend subsidies through local subsidy initiatives, which have already begun to develop. In April, Guangzhou announced CNY 10,000 (approximately $1,400 USD) per person a subsidy for NEV buyers for the rest of 2020. A number of other provinces — including Shandong, Jilin, and Hainan — have already introduced new subsidies and it is expected for this to be followed by other regions.",{"type":577,"attrs":614,"content":615},{"textAlign":49},[616],{"text":617,"type":582},"While Beijing is pushing for local governments to promote privately owned electric vehicles it is also encouraging them to focus on areas that can have a big short-term impact, such as public transportation, taxi fleets, and government vehicles, which as noted already benefit from higher government subsidies. For instance, Guangzhou has also announced that it is planning to add 5,000 new NEV taxis and share ride vehicles to its fleet during 2020, all of which will qualify for the local subsidy.",{"type":577,"attrs":619,"content":620},{"textAlign":49},[621],{"text":622,"type":582},"The latest promotional push into rural areas supports the Chinese government’s wider aim of expanding its domestic NEV markets outside of major cities and into other regions.",{"type":577,"attrs":624,"content":625},{"textAlign":49},[626],{"text":627,"type":582},"Discussing China’s latest NEV rural push, Albert Li, Senior Analyst — China, gave his take on the latest developments: “China can push NEV sales using these latest policies to offset the negative impacts from COVID-19 and previous subsidy reductions. Though the models in the latest promotion are all cheap — below 100,000 CNY ($14,300 USD) — they range from 120-420km and use both NCM and LFP battery cathodes. Together with subsidies from local government, discounts from OEMs and the support of central government, NEV sales should be boosted by this, which in turn should boost suppliers across the supply chain — including battery producers such as CATL, BYD and Gotion.”","China’s Ministry of Industry and Information Technology (MIIT) has this month announced a promotional push to increase new energy vehicle (NEV) sales in rural areas through the second half of 2020. The notice will require all local governments to coordinate and publish their own promotional policies, with ten Chinese NEV OEMs expected to publish measures […]",[630],{"slug":565,"name":566,"content":631},{"job_title":568,"image":632,"bio":571,"linkedin":572},{"filename":570},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"e11aedab-ad55-4585-b6b3-9cb0062eb682\", \"id\": \"\"}-->","article",[636,639],{"slug":637,"name":638},"batteries","Batteries",{"slug":640,"name":641},"ev","EV","private",{"id":49,"alt":644,"name":644,"focus":644,"title":644,"source":644,"filename":645,"copyright":644,"fieldtype":646,"meta_data":647,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/cfe34ee2b5/bm-byd-electric-car.jpg","asset",{"alt":644,"title":644,"source":644,"copyright":644},"Jul 24, 2020","24th July 2020",[],[],1789982597701]