What is the New Energy Vehicle Credit System?
2 Answers
Average fuel consumption credits and new energy credits. Below is the relevant introduction: Concept: New energy vehicles refer to automobiles that utilize unconventional vehicle fuels as their power source, integrating advanced technologies in power control and driving systems to form vehicles with advanced technical principles, new technologies, and novel structures. Main characteristics: Hybrid electric vehicles. Hybrid electric vehicles come in three layout forms: series, parallel, and mixed. There is no mechanical connection between the engine and the electric motor, allowing greater freedom in the structural arrangement of the vehicle. Credit requirements: The new energy vehicle credit ratio requirements for 2021-2023 are 14%, 16%, and 18% respectively. This credit ratio is derived from comprehensive calculations based on balancing the industry's positive and negative credits, meeting the fifth-phase fuel consumption standards, and achieving the established industrial development goals.
The New Energy Vehicle (NEV) credit system is a policy change topic I follow closely. Simply put, it's a government-designed mechanism to promote electric vehicles. Automakers earn credits for each NEV produced, while producing fuel-powered vehicles may result in credit deductions or the need to purchase credits from others. The goal is to reduce automotive emissions and drive industry transformation. I recall studying the credit trading market after the 2020 policy tightening - companies like BYD accumulated substantial credits due to strong NEV sales, which they could sell to lagging manufacturers, effectively creating economic incentives. Overall, this has propelled the rise of China's EV market, and I predict future credit rules will become stricter to encourage more technological innovation. As an ordinary citizen, I believe this indirectly leads to better charging infrastructure and improved air quality with more green-plate vehicles on the road. In the long run, consumers also benefit from increased choices and more favorable pricing.
