The central government was sending mixed signals about its future plans for electric vehicles (EVs) at an auto event over the weekend, on the one hand tightening current incentives for EV sales but at the same time saying it is studying more measures to boost the struggling program. What this tells me is that China’s ambitious program to put 1 million EVs on the road by 2015 is in a state of disarray, with few such vehicles on the road today despite lots of government talk. Let’s review the latest developments, which saw one Finance Ministry official at the event in Tianjin saying fuel efficiency standards were being raised for EVs to qualify for a government subsidy of 3,000 yuan per vehicle, meaning less cars will now qualify in the program. (English article) At the same time, other officials at the event said Beijing is studying other ways to boost the struggling EV sector through means like lowering taxes on vehicles and key components. My response to all this is that Beijing needs to step back and look at the real reason why China’s EV makers have made so little progress to date: a lack of infrastructure for vehicle charging and maintenance, and lack of an education campaign to tell the public about these vehicles and ease their concerns over operational and charging issues. If Beijing really wants this program to succeed, it should work with local governments to offer incentives for big names like PetroChina (HKEx: 857; Shanghai: 601857; NYSE: PTR) and Sinopec (HKEx: 386; NYSE: SNP) to add charging stations to many of their urban traditional petrol stations. It should also join hands with EV makers like BYD (HKEx: 1211) and SAIC (Shanghai: 600104) and create a national campaign to educate the public about their vehicles, including information on buying incentives, maintenance and charging, and the environmental advantages of such vehicles. Only through these kinds of coordinated, national efforts, led by Beijing working with local governments and industry, will China’s grand EV plans stand any chance of success.
Bottom line: China’s grand EV dreams are in a state of disarray, with stronger leadership needed from Beijing to foster infrastructure development and education.
中国政府在周末车展上对电动车发展计划发出不同的信号，一方面表示将收紧现有电动车销售刺激政策，另一方面却称，正在研究制定更多措施，促进电动车项目发展。我的感觉是，中国希望2015年有100万辆电动车上路的计划处于混乱状态，尽管政府一再谈论该项目，迄今国内鲜有电动车上路。回顾一下该项目的最新进展，中国财政部一名官员在天津车展上称，正在对享有政府补助资格的电动车提高节能标准，这意味着目前符合补贴标准的电动车将减少。政府对每辆电动车补贴3,000元。与此同时，另有官员在车展上称，政府正在研究包括对电动车和关键零部件减税在内的其它方案，以推动电动车产业发展。我的看法是，中国政府需要退後一步，审视一下中国电动车制造迄今进展缓慢的真正原因：缺少充电站和维修站等基础设施，面向公众的电动车宣传不够，未能缓解公众对电动车操作和充电问题的疑虑。如果中国政府确实希望电动车项目取得成功，就应该与地方政府一道，向中石油(601857.SS; 0857.HK; PTR.N)、中石化(0386.HK; SNP.N)等大公司提供补贴，在传统市内加油站基础上，增设充电站。政府还应与比亚迪(1211.HK)和上汽(600104.SS)等电动车制造商联手，在全国进行电动车宣传活动，让公众了解电动车购置补贴、维护和充电及环保等方面的信息。只有通过中央政府牵头，地方政府和行业在全国的配合，中国宏伟的电动车计划才有望成功。
一句话：中国电动车计划陷入混乱状态，应在中央政府带领下，推进基础设施建设和宣传教育活动。
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◙ Hertz, GE Give Jolt to BYD Electric Cars 赫兹新项目为比亚迪“加油
After months of announcing electric car deals that have largely left me unimpressed, BYD (HKEx: 1211) has finally come up with a tie-up that looks like a move in the right direction in its uphill quest to boost its costly alternate energy vehicle program. Ironically, or perhaps appropriately, BYD, the struggling auto maker backed by Warren Buffett, was surprisingly quiet during this latest announcement, leaving most of the talking to Hertz, the US auto rental giant which is teaming up with General Electric (NYSE: GE) in this latest initiative. (
crash that has seen its Hong Kong-listed shares lose about two-thirds of their value from a 52-week high, the company is continuing to focus on its dreams of becoming the world’s first company to make serious money from electric vehicles, as evidenced by its latest announcement that it is providing the world’s biggest EV fleet to its hometown of Shenzhen. (
