FCV for the first time appears on China’s governmental NEV subsidy liquidation list

Shanghai (Gasgoo)- Fuel cell vehicle (FCV) for the first time appeared on a governmental liquidation list about how much subsidy would be given to automakers based on the number of vehicle they submitted in 2017 for governmental grants.

Earlier this month, China's Ministry of Industry and Information Technology (MIIT) announced the latest batch of models qualified for NEV subsidy, involving a total value of over RMB22.027 billion. 

(Photo source: Dongfeng Motor Group)

Two “lucky” FCV models were listed this time—one is a van from Dongfeng Motor Group and the other is manufactured by SAIC Motor Commercial Vehicle Co.,Ltd. Of that, Dongfeng Motor will get a total subsidy of RMB57 million with 114 FCVs it promoted entirely passing the governmental review.

（Photo source: SAIC Maxus)

However, failing to meet the requirement of 20,000-km driving distance, 15 FCVs from SAIC Motor Commercial Vehicle Co.,Ltd were excluded from the incentive. Finally, the SAIC Motor's subsidiary will receive RMB10 million worth of subsidy based on only 20 FCVs.

Unit subsidy for both two models is RMB500,000.

For the first nine months of 2019, China's FCV outputs and sales reached 1,315 units and 1,251 units respectively, growing by 7.7 times and 7.6 times over the same period a year ago, according to the China Association of Automobile Manufacturers (CAAM).

The new subsidy policy taking effect in June has merely impacted the FCV sector. Some analysists said FCV will become a regular on the subsidy liquidation list in the future.

Meanwhile, the newest list showed that the top three automakers by the amount of subsidy they will receive are Zhengzhou Yutong Group (RMB4.59 billion), BYD (RMB3.46 billion) and Zhong Tong Bus (RMB1.12 billion).