In critical stages of new energy vehicle development, various sectors remain highly sensitive to policy changes. Recently, rumors about the early withdrawal of subsidies have been circulating widely, causing a sharp drop in automotive stock prices. A leaked 2018 subsidy plan indicates that new energy passenger vehicles are now categorized based on their driving range, with a minimum threshold of 150 km and higher subsidies for models exceeding 300 km. This policy clearly encourages manufacturers to focus on producing high-quality, energy-efficient vehicles.
Although the official announcement from the Ministry of Finance and the Ministry of Industry and Information Technology has not yet been made, signals suggest that the country is shifting its support from direct subsidies to more strategic guidance. This transition will likely impact companies producing low-range electric vehicles and those focused on electric buses.
Since the 2015 announcement of subsidy withdrawal, it was intended to push automakers to cut costs, enhance R&D, and produce more efficient vehicles. However, some companies failed to take this seriously, continuing to rely on subsidies rather than innovate. As market-driven policies become more prominent, early adaptation becomes essential. For traditional automakers entering the new energy sector, while the subsidy reduction may bring short-term challenges, adapting quickly can help minimize the negative effects.
At the 5th Automotive and Environmental Innovation Forum, Gao Jingjing from Geely’s Research Institute highlighted the company's "Blue Geely Action" strategy, aiming for over 90% new energy vehicle sales by 2020. Geely is pursuing three main technologies: pure electric (EV), plug-in hybrid (PHEV), and hybrid electric (HEV). The company is also developing a next-generation PMA platform to match global standards.
Guangqi’s Chief Technical Director, Qi Hongzhong, emphasized that although their new energy sales are still modest, the company has been actively researching and developing core technologies such as power batteries, motor systems, and electromechanical coupling. By 2019, they plan to launch more EV and PHEV models, with further advancements expected by 2021.
FAW Group has also restructured its new energy division, creating a dedicated institute to strengthen its efforts. Their “1233†strategy includes building multiple platforms, including 48V systems, hybrid platforms, and pure electric brands. This approach reflects a long-term commitment to new energy technology.
While focusing on new energy, it's equally important to improve fuel efficiency in traditional vehicles. Wang Deping noted that different vehicle classes should adopt appropriate technologies to meet fuel consumption regulations. For example, A-class cars use 48V systems, B-class cars use HEV, and C-class cars benefit from PHEV.
Changan’s Zhan Yusong believes that a combination of hybrid and pure electric technologies can be effective, depending on the company's capabilities and the current subsidy environment. He emphasized that while subsidies are still important, the industry must move toward self-sufficiency through innovation.
Cui Dongshu of the National Passenger Vehicle Market Information Association stated that adjusting subsidies by raising technical standards will promote better products and eliminate weaker players. Although the 2018 policy is not yet finalized, companies must focus on reducing costs and improving technology. In the evolving new energy vehicle landscape, success will depend on market forces, policy shifts, and technological advancement.
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