According to the Zhitong Finance APP, the Ministry of Industry and Information Technology recently released the seventh batch of directory for the exemption of vehicle purchase tax for New energy Fund models. Cui Dongshu stated that overall, the technology improvement of tax-exempt models is relatively steady, with many pure electric Passenger Vehicles having a range of over 600 kilometers, and a rich supply of high energy density Battery products. There are no Hydrogen Energy models launched for Passenger Vehicles, while many competitive New energy Fund models have been released by independent traditional car companies. It is regrettable that there are fewer short-range products, as shorter ranges are not due to technological backwardness, but rather a more advantageous price cost, aligning better with Consumer demand, yet the tax exemption decision on vehicle purchase tax influences product trends.

1. Overview of the tax-exempt directory for 2024.

In 2024, there are a total of 20,085 models of Electric Vehicles in the tax exemption directory. Due to the large number in the first batch, the quantity of Electric Vehicles in the directory is relatively higher than the normal levels in recent years.

In recent years, the directory of electric vehicles has gradually become richer. The directory for New energy Fund Passenger Vehicles in 2024 should be said to have a relatively large overall quantity, and this year’s New energy Fund vehicles are thriving.

2. Changes in power structure.

Due to subsidy factors, the recent performance of Hydrogen Energy Commercial Vehicles has been outstanding, with the quantity exceeding that of Plug-in Hybrid Vehicles, becoming the Block Orders in the declaration catalog.

In mid-2024, there are 3,965 models of Passenger Vehicles, with a significant number being pure electric and a recent explosive growth in Plug-in Hybrid Vehicles. There are 3,792 models of buses, with pure electric maintaining an absolute dominance and a slight recovery in Plug-in Hybrid Vehicles. There are 12,208 models of special vehicles, among which pure electric is the absolute majority, while there are 887 Hydrogen Fuel models.

In the second half of 2024, there are no Hydrogen Fuel products for Passenger Vehicles, which is a good thing that meets market demand.

3. Changes in the 2024 New Energy Directory

The 2024 New energy Fund catalog maintains high characteristics, especially the explosive growth of Hydrogen Fuel special vehicles, creating a strong growth feature relying on subsidies for increasing.

4. Range of electric passenger autos in 2024

The range of Electric Vehicles has continued to grow overall, particularly noticeable in pure Electric Vehicles from 2018 to 2023. In 2024, there will be more pure Electric Passenger Vehicles launched with a range of over 500 kilometers, and there has also been improvement in models with a range of less than 250 kilometers.

The range of pure electric passenger vehicles is relatively stable. The number of products with a range of over 600 kilometers continues to increase in 2024, with obvious technological advancements.

5. Energy density of batteries

In recent years, the energy density of pure electric vehicle Batteries has improved slowly; in 2024, gradual marketization will drive technological advancements, showing that the products of Passenger Vehicles are performing well in terms of reducing reliance on subsidies. More models of around 140 watt-hours are being introduced.

6. The energy density of various types of vehicles.

The power consumption of vehicles with a range of over 300 kilometers is generally around 13 degrees, and the increase in power consumption for long-range is not significant. The energy density of Batteries with a range of over 400 kilometers is also above 140.

Hybrid models are divided into range-extending and plug-in hybrids, with a general boundary at 150 kilometers; the power consumption of range-extending models is relatively low at 20 degrees per 100 kilometers, while plug-in hybrids have a higher level at 23 degrees.

7. Analysis of pure Electric Vehicles

There are many new products from independent brands with strong product competitiveness. Aion's power consumption is extremely low, with clear practical advantages.

8. Tracking of new plug-in hybrid vehicles

Chery, BYD, Changan, Geely, and other independent brands have performed well in plug-in hybrids. The electric consumption of some models has also dropped below 20, showing excellent performance.