BYD has received 2.342 billion yuan of subsidies for new ene

BYD issued a notice on March 10, indicating that it has received a subsidy of 1 billion yuan from the state for new energy cars.

 

 

 

The notice shows that according to Xi’an Finance Bureau’s notice on allocating funds for 2019 new energy car subsidies (pre allocated BYD 2018 new energy car promotion) (SCH [2020] No. 64), Xi’an high tech Zone Finance Bureau will allocate 2018 new energy car promotion and application central financial subsidies to BYD Car Co., Ltd., a holding subsidiary of BYD Co., Ltd RMB 1.983 billion. As of the announcement date, 1 billion yuan has been allocated to the account.

 

 

 

On March 2, not long ago, BYD announced that it had received the transfer payment of 2017 new energy car promotion and application central financial subsidy from Pingshan District Finance Bureau of Shenzhen City, calculated as RMB 1.342 billion. Since 2020, BYD has received 2.342 billion yuan of new energy car subsidies. According to the budget for the third batch of energy conservation and emission reduction subsidies in 2019 issued by the Ministry of industry and information technology in December 2019, BYD will receive over 3.6 billion yuan of new energy car subsidies.

 

 

 

According to the previous notice, the sales volume of BYD’s new energy cars in 2019 was 229506, down 7.39% year-on-year. In recent two months, the sales volume of BYD’s new energy cars also fell sharply compared with that of last year. According to reports, Tesla’s Shanghai plant produced 3898 new energy cars in February, beating BYD to rank first in sales.

 

 

 

Affected by the domestic epidemic and Tesla’s two-tier impact, the domestic new energy car and power battery sales ranking is changing.