[Subsidy reduction, how to reduce costs to become urgent issues for new energy vehicle enterprises] The development of new energy vehicles is rampant, but changes in subsidies and policy changes also make new energy vehicle companies face challenges. In 2017, the net profit of listed companies of new energy vehicles generally decreased significantly compared with the previous year. According to a report released by China Investment Securities, due to the impact of new energy vehicle subsidy and declining slopes, and some auto companies greatly accrued bad debt provision for accounts receivable, the overall performance of new energy autos in 2017 was relatively weak. Net profit of automakers such as Haima Motors, Foton Motors, Zhongtong Bus, Jianghuai Automobile, and Great Wall Motor both declined by more than 50%. The performance of many new energy vehicle OEMs such as Ankai Bus and Haima Automobile even suffered a loss in 2017. With the arrival of subsidies for new energy auto companies in 2016 and 2017, the related company's cash flow and net profit indicators may improve significantly. In recent years, the threshold for subsidy policy has gradually increased. Due to various factors, the completion rate of subsidy for passenger cars was poor in 2016. Among the models declared in 2017, some models of BAIC and BYD did not pass subsidy because they did not access the national regulatory platform. Cui Dongshu, secretary-general of the National Passenger Vehicles Association, recently said in an interview with a CFA reporter that since 2018, the momentum for the development of new energy vehicles in China has been relatively good, but with the subsidy retreating, the profits of auto companies will also be affected. . Policy impact Cui Dongshu believes that the "double-integration" policy is a good encouragement. These new energy car companies can exchange money and make up for their profits. “At present, foreign car companies have not been effectively promoted and there are no products, but it does not mean that they are technically incapable. The gap between us and them is still technical. Joint venture brand planning is basically done after 2020, which is also Decisions based on the stability of the policy. Hope that after the dust is settled, planning will be done so that the burden of some companies will be less considered.†Cui Dongshu told reporters. However, the double-integration policy is also a double-edged sword for the entire industry. “Everyone should not expect that 'double integration' will drive the development of this industry. Once 'double integration' comes into play, some car companies will take this point at a very cheap price, for example, take a low price of 30,000 yuan and 50,000 yuan. New energy vehicles sell, once large-scale sales, low-priced industries come out again, and if the role of 'double-integration' is not good, it will have a bad influence on the industry." Gu Huinan, chairman of GAC New Energy, is so think. It is worth noting that although new energy vehicles have made progress in terms of technology, mileage, etc. under the support of policies, there are still immature places. This is mainly the unpredictability of policies. “A lot of consumers are not very aware of new energy now, but in fact, technology has made great progress in recent years. From the perspective of new energy markets, I think it is a market that is not the same as a traditional car. The traditional car is In a market that is completely competitive and open, it can be planned uniformly across the country and even around the world, but new energy must be a policy of one place and be adapted to local conditions. It is a market segregated by policies, so each place needs to formulate a strategy. This is It is the most immature place.†Liu Xinwen, director and general manager of Yundu New Energy Automobile, said at the 10th China Auto Blue Book Forum: “From the annual 10% to the annual 20%, the annual retirement rate is getting more and more. It is normal for the state to make some adjustments according to the situation, but it is very difficult for the technology to keep up." Under the influence of the policy baton, high mileage has become an important direction for the development of various car companies. The subsidy policy supports more vehicles with cruising range of more than 300km. Therefore, the mileage of new energy vehicles has been effectively improved in recent years. At present, the models of most enterprises can reach 300km. “The increase in specific energy is a pursuit of technology. There is nothing wrong with this, but it is actually very dangerous to go to a high endurance, because it is necessary to retreat after two years.†Liu Xinwen said that policy subsidies have a great impact due to the pursuit of High cruising range, cars used for urban commuting also carry a lot of battery packs running, which also waste a lot of money. cut costs For enterprises, facing the subsidy withdrawal, reducing costs is the most critical. "The main reason is that the cost of upstream is too high, and the cost of batteries and raw materials is relatively high. These upstream companies are also speculating on subsidy and retreat. The state should take measures to curb such behavior and conduct effective supervision." Cui Dongshu told reporters . Li Yixiu, deputy general manager of Beiqi New Energy, believes that as new energy auto companies need large amounts of capital in the early stages of development, such as manufacturing costs, procurement costs, and mold development, the state gives certain policy subsidies to support them. However, in order to better promote the healthy development of the new energy auto industry, the subsidy policy must be gradually reduced within a limited time. "The subsidy policy's retreat will surely affect the enterprise to a certain extent, but there are still opportunities and opportunities for enterprises in the future development." Li Yixiu told reporters that new energy vehicles are more expensive than traditional fuel vehicles in cost control. This means that consumers are reluctant to accept whether new energy vehicles will create higher value experience opportunities than fuel vehicle products themselves. "The relevant concepts of vehicle AI have been proposed and there is room for this." On the other hand, new energy vehicles are so much more expensive than fuel vehicles, mainly due to higher battery costs. “The 50% of the cost of an electric car bought by a customer comes from the battery. Within a 3 to 5 year life cycle, the value of this battery is 20% to 30%. After the end of the service period, this battery is worth about 10%. In fact, the customer spent 100% of his money, but he used only close to 30%, and 70% of the battery cost is wasted and has not been reflected.†Li Yixiu said that in terms of space, the value of the car or battery separation The change of usage patterns can also significantly reduce the cost of car purchases. Although new energy subsidies after 2020 will probably be cancelled, the country’s support for new energy vehicles will continue to continue. For example, new vehicle purchase tax preferential policies will tend to new energy vehicles. “Non-cash subsidy can not be ignored, including the switch of license plates in restricted cities. Local subsidy can be better put into the use of new energy vehicles and the construction of public charging piles.†Zhang Junyi, Partner of Weilai Capital Partners Say. VFD Part Grid,Grid for VFD Part,Electronics Controlling Grid VFD SHAOXING HUALI ELECTRONICS CO., LTD. , https://www.cnsxhuali.com