In the realm of new energy, the frequent changes in policies have indeed created some challenges for many companies. While some interpretations have caused confusion or even dissatisfaction, it's important to look at the long-term picture. These policy updates have ultimately driven improvements in industry standards and pushed the sector toward more sustainable and rapid development.
Looking back, the micro-electric vehicle market may face significant adjustments. Between 2017 and 2018, major policy shifts—such as regulatory reforms, subsidy reductions, and the introduction of the dual-point system—drastically reshaped the industry landscape.
According to Wu Zhixin, deputy director of the China Automotive Technology and Research Center, the new energy vehicle subsidy program is still under review. To avoid market instability, the adjustment plan has been delayed by four months. During this transitional period, vehicles already listed in the new energy promotion catalog can continue to be sold and receive subsidies, though the amounts will be reduced.
New data suggests that electric vehicles with a range of less than 150 km might lose their national subsidies entirely. For models with ranges between 150-200 km, the national subsidy is set at 10,000 yuan; 200-250 km: 25,000 yuan; 250-300 km: 34,000 yuan; 300-400 km: 45,000 yuan; and over 400 km: 50,000 yuan. Local subsidies cannot exceed 50% of the central government’s support.
This raises concerns about low-range micro-electric vehicles like the Zotye E200, Zhidou D2, Beiqi EC series, and Chery eQ. Their price advantage may fade, but these urban-focused models are still likely to remain popular among first-time EV buyers. Overall, the market isn’t expected to collapse.
From a consumer perspective, the new energy subsidy is a key factor. However, there’s no need to worry too much. Starting January 1, 2018, the revised “Automobile Loan Management Measures†came into effect, offering higher loan ratios for new energy vehicles. The maximum loan amount for self-use new energy cars is now 85%, compared to 80% for traditional vehicles. With young consumers dominating the market, this shift could help stabilize demand and encourage more people to consider electric vehicles.
The dual-point policy has also intensified competition. Facing pressure from new energy credits, many traditional automakers have accelerated their transition into the electric vehicle space. This marks a shift from subsidy-driven growth to technology-led development.
Foreign players are also entering the scene. Since July 2017, foreign investors have been allowed to produce pure electric vehicles in China without restrictions. Companies like Volkswagen and JAC have taken advantage of this, while joint ventures such as Zhongtai and Ford are also making moves.
In November 2018, the Ministry of Foreign Affairs announced further liberalization of foreign ownership in new energy vehicles within pilot free trade zones. While the new energy market is not yet as competitive as the traditional one, increased foreign investment could bring both challenges and opportunities. It could push local manufacturers to improve and open up to global competition.
Tesla, aiming for localization, is also preparing to enter the high-end electric car race alongside domestic brands. As the market evolves, the future of new energy looks promising, despite the current turbulence.
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