On August 26, the First Division of Equipment Industry of the Ministry of Industry and Information Technology organized a symposium on supporting the accelerated development of new energy vehicles. Representatives of the Center, China Automotive Research Institute, the 100 People’s Association, the Power Battery Alliance, the Charging Alliance and other industry organizations attended the meeting and conducted in-depth analysis on the development situation and existing problems of the new energy vehicle industry.

On the evening of the same day, the Shanghai Economic and Information Commission officially announced that the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, the National Development and Reform Commission, and the National Energy Administration have officially approved the Shanghai urban agglomeration for the demonstration application of fuel cell vehicles as the first batch of demonstration urban agglomerations.

Prior to this, the Beijing-Tianjin-Hebei hydrogen fuel cell vehicle demonstration city cluster with Beijing as the core has been officially approved. It is reported that the Guangdong fuel cell vehicle demonstration city group is also likely to be included in the first batch.

Pan Helin, executive dean and professor of the Digital Economy Research Institute of Zhongnan University of Economics and Law, told the Securities Times reporter that the country has two considerations for vigorously developing new energy vehicles. The first consideration is the “dual carbon” goal, especially hydrogen fuel cell vehicles, which are more conducive to decarbonization; the second consideration is to promote technological progress, seek technological progress in the field of emerging vehicle power, and achieve it in the era of new energy vehicles Overtaking on the curve of the gasoline car engine to build an industrial advantage.

In his view, the recent intensive support policies introduced by the state are bound to boost the future demand for new energy vehicles.

　National policies strongly support new energy vehicles

On July 30, the Political Bureau of the Central Committee of the Communist Party of China held a meeting to expressly support the accelerated development of new energy vehicles and set clear guidelines for industrial development.

In order to implement the spirit of the meeting of the Political Bureau of the CPC Central Committee and support the accelerated development of new energy vehicles, on August 26, the First Division of Equipment Industry of the Ministry of Industry and Information Technology organized a symposium in Beijing to listen to the opinions and suggestions of industry enterprises.

Representatives of SAIC, BYD, NIO, CATL, and other industry organizations, as well as representatives of equipment centers, automobile associations, automobile society, China Automobile Center, China Automobile Research Institute, 100 People’s Association, power battery alliance, charging alliance and other industry organizations attended the meeting.

It is reported that the participants conducted an in-depth analysis of the development situation and existing problems of the new energy automobile industry. Focusing on supporting the accelerated development of the industry, combined with the realization of the carbon neutralization goal of the automobile industry, the focus was on strengthening the coordination of departmental work, improving fiscal and taxation support policies, Opinions and suggestions were made on accelerating infrastructure construction, coordinating the layout of upstream and downstream links in the industrial chain, and strengthening safety supervision.

A few days ago, the Ministry of Commerce also made it clear that in order to further promote the development of the new energy vehicle industry, it is necessary to encourage and guide all localities to reduce restrictions on the purchase of new energy vehicles through measures such as increasing license plate indicators and relaxing license plate application conditions. and other use links to create more convenience for new energy vehicles. Various localities have adopted various measures to increase the promotion and use of new energy vehicles in public areas such as public transportation, taxis, logistics and distribution.

Relevant data shows that from January to July this year, my country’s automobile manufacturers sold 1.478 million new energy vehicles, a year-on-year increase of 2 times, exceeding the level of 1.367 million in 2020, a record high. The sales of new energy vehicles accounted for 10.0% of the sales of new cars by manufacturers, an increase of 6.1 percentage points over the same period last year.

It is worth noting that in the first half of this year, the proportion of domestic new energy vehicles purchased by individuals exceeded 70%, and the endogenous power of the market has been further strengthened.

Dongxing Securities analyzed that at present, my country’s new energy vehicle market is transitioning from policy dependence to market competition, and new energy vehicles have entered a stage of full marketization.

The continuous favorable policies of the industry and the rising sales volume and market share have made the prosperity of the new energy vehicle industry continue to rise, and the new energy vehicle sector has also become one of the most popular sectors in the capital market. Some market participants believe that in the second half of this year, new energy vehicles may be the industry sector with the most medium and long-term growth.

　　Demonstration and promotion of hydrogen fuel cell vehicles in various places

On the evening of August 26, the Shanghai Economic and Information Commission issued a notice stating that recently, the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, the National Development and Reform Commission, and the National Energy Administration officially approved the demonstration application of fuel cell vehicles in Shanghai urban agglomeration as the first batch of demonstrations. urban agglomeration.

The approved Shanghai fuel cell vehicle demonstration city group is composed of six cities including Suzhou City, Nantong City, Jiangsu Province, Jiaxing City, Zhejiang Province, Zibo City, Shandong Province, Ningxia Ningdong Energy and Chemical Base, and Ordos City, Inner Mongolia Autonomous Region. (region) to jointly form a “1+6” urban agglomeration.

Pan Helin told the Securities Times reporter that Shanghai attaches great importance to the development of the new energy vehicle industry and has a high influence nationwide. Promoting hydrogen fuel vehicles in the central city of Shanghai can serve as a demonstration for other cities across the country, opening up a situation for the future advancement of hydrogen fuel cells. The current hydrogen fuel cell technology still needs to be improved, and the infrastructure needs to be followed up. The commercial situation is not good. Because the popularity of hydrogen refueling stations is not enough, Shanghai can promote the overall development of hydrogen fuel cell vehicles.

In fact, before this, the Beijing-Tianjin-Hebei hydrogen fuel cell vehicle demonstration city group led by Beijing was officially approved. According to market sources, the Guangdong fuel cell vehicle demonstration city group is likely to be included in the first batch.

The active promotion of hydrogen fuel cell vehicle demonstration and promotion across the country is closely related to the policy of “replacing subsidies with rewards” issued by five ministries and commissions last year. In September 2020, the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, the National Development and Reform Commission, and the National Energy Administration jointly issued the “Notice on Launching the Demonstration Application of Fuel Cell Vehicles”. The demonstration period is tentatively set for four years.

During the demonstration period, the five departments will adopt the method of “replacing subsidies with awards”, and reward the city clusters that are shortlisted for demonstration according to the completion of their goals. The “Notice” aims to accelerate the R&D and innovation of relevant basic materials, key components and vehicle core technologies by rewarding the demonstration application of new technologies and the industrial application of key core technologies, and to build a complete fuel cell vehicle industry chain. A solid foundation has been laid for the large-scale industrialization of automobiles.

After the release of this policy, it immediately attracted widespread attention in the industry, and the industry generally referred to it as the fuel cell vehicle version of the “Ten Cities, Thousand Vehicles” policy.

A number of brokerages have analyzed that the introduction of this policy will bring the hydrogen fuel cell vehicle industry to a large-scale inflection point. Among them, Chuancai Securities analyzed that after the introduction of the policy of “replacing subsidies with rewards” for demonstration cities, the domestic hydrogen energy industry investment will increase significantly again. In the future, as policies continue to increase and large-scale commercial applications continue to be implemented, hydrogen fuel cells will usher in rapid development, and those companies that master core technologies will benefit significantly.

According to the analysis of Bank of China Securities, in this fuel cell vehicle demonstration application policy, in addition to the promotion of fuel cell vehicles, more attention is paid to the industrialization of key components and the progress of supporting facilities such as hydrogen refueling stations. Referring to the development process of new energy vehicles, fuel cell vehicles will form a good industrial chain after the implementation of the “demonstration application” policy, and it is expected to usher in an explosion of production and sales around 2025.