FY 2018 NEV Credit/ Corporate Average Fuel Consumption Credit of OEMs
Double credit policy amendment favors fuel-efficient cars
2019/08/07
- Summary
- “Corporate Average Fuel Consumption and New Energy Vehicle Credits Joint Management Method Regulation” modified draft version
- FY 2018 credit situation: BYD enjoying a sizable lead, BMW Brilliance performing admirably among foreign joint ventures
- FY 2017 and FY 2018 credit score comparison chart
Summary
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BYD’s e1 compact EV |
The “Corporate Average Fuel Consumption and New Energy Vehicle Credits Joint Management Method Regulation” (also known as the double-credit “NEV Credit Regulation”) was announced in September 2017, and began in April 2019. Automaker credit scores for FY 2018 were announced in late June, clearly identifying companies with a high number of positive and negative credit scores. At the top was BYD Auto Co., Ltd., which has a positive credit score both for average fuel consumption and for its NEVs. As for foreign joint ventures, BMW Brilliance Automotive Ltd. (BMW Brilliance) ranked in at tenth place. Within the Geely Group, which manufactures EVs, PHVs, and MHEVs, Zhejiang Haoqing Automobile Manufacturing Co., Ltd. and Zhejiang Geely Automobile Co., Ltd. have built up their credit scores.
This report will cover the “FY 2018 Passenger Vehicle Corporate Average Fuel Consumption and NEV Credit Calculation Status Chart” announced in June 2019 by the four ministries as well as provide an outline of the modified draft version, soliciting public comments, of the “Parallel Administration of Corporate Average Fuel Consumption and New Energy Vehicle Credits” issued by the Ministry of Industry and Information Technology on July 9th, 2019.
Related Reports：
2019 Sales Forecast in China (CAAM): NEVs to make up 1.6 million of 28.1 million vehicles sold（Apr. 2019）
SAE China 2018：NEV industry and related policies（Jan. 2019）
Emerging Chinese EV makers: Rapid development with IT investment and partnerships（Apr. 2018）
The current situation of China’s NEV market（Jan. 2018）
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