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Powerful policy support in China: no more subsidy declines in 2020

Large  Small Date:2020-01-13  From:ICC
Note: The best news for Chinese EV industry is that subsidies would not be declined since July in 2020, which would speed up Chinese electrification and realize people’s expectation for Chinese new energy vehicle market.
The best news for Chinese EV industry is that subsidies would not be declined since July in 2020, which would speed up Chinese electrification and realize people’s expectation for Chinese new energy vehicle market. On January 11th, at the annual forum of the China Electric Vehicles Association held in Beijing, Minister of Industry and Information Technology Wei Miao issued some planning prospects. It’s a very important keynote speech for Chinese electric vehicle industry since policy is always significant to pushing forward Chinese EV market especially about subsidy policy. Thus, ICCSINO makes some Interpretation of the policy and forecasts the EV sales in Chinese market in 2020.
 
1. Chinese total vehicle sales would be stable in next 2 years. 25 million vehicle sales would be the bottom number. In 2018, China's automobile production and sales showed negative growth for the first time, but since November 2019, automobile production has achieved growth Y-On-Y. It is expected that China's automobile production and sales may have a slight negative growth or zero growth this year. 
 
2. Long-term positive development of Chinese new energy vehicles has not changed. In 2019. Production and sales of new energy vehicles still exceed 1.2 million units, which is roughly equivalent to the full-year sales volume in 2018. 
 
3. New energy vehicle subsidies will not decline further on July 1 2020.
 
Because of policy decline in 2019, people became not that so optimistic about Chinese EV market, however, based on the policy of subsidy no decline in 2020 released and 25% EV sales proportion realized in 2025, as well as the irreversible electrification process worldwide, ICCSINO predicts that Chinese EV sales would reach 1.88 million units and installed batteries in China would be around 110 GWh in 2020. 

 
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