Double points, this seemingly familiar but unfamiliar word, may be seen occasionally when you are browsing the news. If you are not a person in the automobile industry, you may pass it by. Of course, even if you are not in the automobile industry, if you are not responsible for the corresponding Plate, maybe I don’t have much idea about this word. To put it simply, every automobile manufacturer that produces a fuel vehicle must have new energy points to offset it. The purpose is to reduce carbon emissions and promote the overall development of the new energy vehicle industry.
In September 2017, the Ministry of Industry and Information Technology, together with five departments of the Ministry of Finance, issued the "Measures for the Parallel Management of Passenger Car Enterprise Average Fuel Consumption and New Energy Vehicle Points" , which is the "double points policy" that we often hear, and has built a points trading platform to establish a market-oriented mechanism for the coordinated development of energy-saving and new energy vehicles, aiming to promote the development of the energy-saving and new energy vehicle industries.
The dual-point policy has been implemented for more than 4 years. According to the information disclosed by the Ministry of Industry and Information Technology in the "Dual-Point Policy" annual report in May this year, the average fuel consumption of the passenger car industry has dropped by an average annual rate of 4.7% for four consecutive years. %, the production and sales of new energy vehicles have remained first in the world for 6 consecutive years. From the data point of view, the effect of the implementation of the "double points policy" is still good.
For consumers, what kind of existence the "double points policy" is and how it relates to our daily lives are all of great concern. At the beginning of the implementation of the "double points policy", there were actually many interpretations, but the policy was revised once in 2020, and most people may not understand it well. Therefore, this article focuses on the latest version of the "double points policy" after the revised version in the automobile industry. Points Policy" will be interpreted to help everyone better understand the development of the automotive industry.
Let’s take a look at the official statement first. “In order to improve the energy-saving level of passenger cars, alleviate energy and environmental pressures, establish a long-term mechanism for the management of energy-saving and new energy vehicles, and promote the healthy development of the automobile industry, according to the " According to the Energy Conservation Law of the Republic of China and other provisions, the Ministry of Finance, the Ministry of Commerce, the General Administration of Customs, and the General Administration of Quality Supervision, Inspection and Quarantine have formulated the "Measures for the Parallel Management of Passenger Car Enterprise Average Fuel Consumption and New Energy Vehicle Points." This is where the term "double points policy" comes from. The double points are points for average fuel consumption of passenger car companies and points for new energy vehicles.
1. What exactly are corporate average fuel consumption points?
Among them, the enterprise's average fuel consumption points refer to the difference between the standard value and the actual value of a car company's average fuel consumption, multiplied by its new car production or import volume. .
What is the standard value?
The compliance value is the product of the car company’s average fuel consumption target value and the average fuel consumption requirement of the accounting year (that is, a natural year, from January 1st to December 31st of that year).
What is the target value?
As shown in Figure 1 below, it is actually the product of the fuel consumption target value of each vehicle model and the corresponding annual production or import volume, divided by the total annual production or import volume.out value. If the same vehicle model has multiple different fuel consumption target values in the accounting year, the calculations will be based on the different target values.
Figure 1: Calculation method of enterprise average fuel consumption target value
The average fuel consumption in the corresponding accounting year is shown in Figure 2 below.
Figure 2: Enterprise average fuel consumption requirements
After understanding the compliance value, the actual value is easy to understand. The actual value is the sum of the fuel consumption of each car model multiplied by the corresponding annual production or import volume, divided by the total annual production or import volume of the car company, as shown in Figure 3 below.
Figure 3: Enterprise average fuel consumption
The average fuel consumption points of car companies are calculated based on the fuel consumption target value of each vehicle model. , the calculation process is more complicated. In fact, a simple understanding is that there is a national standard for passenger car fuel consumption for each model, and then the manufacturer sets a target based on this standard. After an accounting year, based on this target, how much has actually been completed is determined, and then compared with the output of the year. Or the points are calculated based on the import volume.
Of course, it is not difficult to see from the above formula that the fuel consumption points of the car company for the year depend on the fuel consumption of your model, as well as the production or import volume of the year, two variables. If the fuel consumption of your model If the volume is large, then you have to control production or import volume; if you have large volume of production or import, then you have to control the fuel consumption of the model; if you don't control either, then work hard on new energy points.
It should be pointed out that the requirements for car companies with an annual output of less than 2,000 units are relatively loose. In 2021-2023, if the company's average fuel consumption drops by more than 4% compared with the previous year, it will The compliance value is relaxed by 60% based on the enterprise average fuel consumption requirements stipulated in the "Passenger Vehicle Fuel Consumption Evaluation Methods and Indicators"; if the reduction is more than 2% but less than 4%, the compliance value is relaxed by 30%.
2. What are new energy vehicle points?
Looking at new energy vehicle points, it refers to the difference between the actual value of the company’s new energy vehicle points and the standard value.
The actual value refers to the sum of the points of each model of new energy passenger vehicles produced or imported by the enterprise during the accounting year (as shown in Figure 4) and the product of the production or import volume of the model. What determines the level of points is the cruising range of pure electric vehicles and the system power rating of fuel cell vehicles.
Figure 4: New energy vehicle points
Pure electric passenger car model points = Standard model points × driving range adjustment coefficient × energy density adjustment Coefficient × power consumption adjustment coefficient, there are also relevant requirements for the points of pure electric vehicles.
A note here is that from the perspective of cruising range, when 100≤R<150, the cruising range adjustment coefficient is 0.7; when 150≤R<200, this value is 0.8; When 200≤R
From the perspective of battery energy density, when the energy density is <90Wh/kg, the energy density adjustment coefficient is 0; when 90Wh/kg ≤ mass energy density <105Wh/kg, the coefficient is 0.8, and when 105Wh /kg≤mass energy density<125Wh/kg, the coefficient is 0.9, and 125Wh/kg≤mass energy density, the coefficient is 1.
From the perspective of power consumption, the maximum speed of a pure electric vehicle is no less than 100km/h in 30 minutes. Set the electric energy consumption target value (Y) of pure electric passenger vehicles according to different curb weights (m, kg). If the electric energy consumption of a vehicle model (kW·h/100km, working condition method) meets the target value of electric energy consumption, the electric consumption adjustment coefficient (EC coefficient) is the target value of electric energy consumption of the vehicle model divided by the actual value of electric energy consumption (the upper limit is 1.5 times ); the EC coefficient of other models is calculated as 0.5 times, and the points can only be used by this company.
Target value of electric energy consumption of pure electric passenger vehicles: when m≤1000, Y=0.0112×m+0.4; when 1000
The second is plug-in hybrid vehicles, which cannot simultaneously meet the fuel consumption of the model's power retention mode test and the fuel consumption limit corresponding to the vehicle model in the national standard. The ratio is less than 70%; and the electric energy consumption in the power consumption mode test is less than 135% of the target electric energy consumption of the previous pure electric passenger car. The models with the above two indicators are calculated according to 0.5 times the points of the standard model.
For fuel cell vehicles, the cruising range needs to be not less than 300km. When P is not less than 30% of the rated power of the drive motor and not less than 10kW, the vehicle model points are based on the standard vehicle model points. 1 times the calculation; points for other models are calculated as 0.5 times the points for standard models.
The standard value refers to the product of the enterprise’s production or import volume of traditional energy passenger vehicles during the accounting year and the new energy vehicle point ratio requirement. Among them, in 2021-2023, the production or import volume of low fuel consumption passenger vehicles will be calculated according to 0.5 times, 0.3 times, and 0.2 times their quantity respectively.
There are two situations regarding the points ratio requirements for new energy vehicles. One is for car companies whose annual output or import volume of traditional energy vehicles is less than 30,000 units. There is no requirement for new energy vehicle points ratio; those that reach 3 For vehicles with more than 10,000 vehicles, new energy vehicle point proportion requirements will be set starting from 2019. From 2019 to 2023, the new energy vehicle point proportion requirements will be 10%, 12%, 14%, 16%, and 18% respectively.
It is not difficult to see the meaning of double points from here. The points for new energy vehicles and the output of traditional energy vehicles may increase.Oral quantity is linked.
These values need to be reported by the car companies themselves. The reporting time nodes are divided into 2, one is to submit the dual-point annual pre-report for the next year to the Ministry of Industry and Information Technology before December 20 of each year, and the other is to That is, before March 1 of each year, an annual report on the implementation of double points for the previous year shall be submitted. The Ministry of Industry and Information Technology publicizes the double points related information of car companies in the previous year through the automobile fuel consumption and new energy vehicle points management platform before April 10 of each year.
3. About parallel management of points
After clarifying the above two concepts, let’s talk about how to hedge between the two.
Positive points for average fuel consumption can be carried forward or transferred between affiliated enterprises, but only in the current year. Starting from 2021, if the ratio of the actual average fuel consumption of a passenger car company (only accounting for traditional energy passenger vehicles) to the standard value is not higher than 123%, the positive points for new energy vehicles generated in the current year will be allowed to be carried forward. Each time it is carried forward, the carry-over ratio is 50%. Positive points for new energy vehicles generated by passenger car companies that only produce or import new energy vehicles will be carried forward at a rate of 50%.
If there are negative points, they can be compensated in four ways: positive points carried forward, positive points transferred, positive new energy points and positive points purchased from new energy, and can be used in combination.
Negative points for new energy vehicles should be offset and reset to zero by purchasing new energy vehicles with positive points.
Positive points for new energy vehicles can be freely traded, but cannot be carried forward and can only be used in the current year; negative points can be offset by positive points in the second year, or by purchasing positive points.
In other words, the average fuel consumption of vehicles produced and sold by car companies must meet the standard. If it exceeds the standard, it will be negative points. The negative points must be offset by positive points. If there are no positive points, there will be negative points. You have to buy points. The same is true for the treatment of negative points for new energy vehicles. If it is not enough to offset it, then you can only wait to be fined, such as suspending the declaration and production of high fuel consumption models, etc.
4. About points trading
Among the 117 car companies disclosed by the Ministry of Industry and Information Technology this year , 43 companies have positive average fuel consumption points in 2020, 71 companies have negative points, and 3 companies have 0 points. Among them, Tesla has the highest points, reaching 860,300 points, BYD, which ranks second, has 754,200 points, and SAIC-GM-Wuling ranks third with 440,500 points. The top three car companies with negative points are FAW-Volkswagen, SAIC-GM and Zhejiang Haoqing Automobile, with corresponding points of -1.19 million, -920,000 and -720,000.
In terms of new energy points, the top three car companies with positive points are Tesla, BYD and SAIC-GM-Wuling, while the top three car companies with negative points are FAW-Volkswagen and SAIC Volkswagen and Dongfeng Motor.
2In 2020, domestic car companies generated a total of about 3.91 million positive points and about 10.57 million negative points for average fuel consumption; positive new energy points were about 4.2 million points and about 920,000 negative points. After the positive and negative points are offset, there is a gap of 3.38 million points.
When it comes to buying and selling, the pricing of points is a problem. The Ministry of Industry and Information Technology has previously stipulated in the "Measures for the Parallel Management of Passenger Car Enterprise Average Fuel Consumption and New Energy Vehicle Points" that starting from July 2, 2018, enterprises can manage passenger vehicle enterprise average fuel consumption and new energy vehicle points. platform to carry out average fuel consumption For points transfer/transfer, new energy vehicle points trading, and submission of average fuel consumption negative points compensation reports, the platform URL is //cafcnev.miit-eidc.org.cn, but the author has tried various methods, but this page cannot be used. Open.
It should be pointed out that the buying and selling of points is a transaction between enterprises. The price of points is determined according to the needs of each other. It is basically a market behavior. The transaction price can be obtained from the double points report issued by the Ministry of Industry and Information Technology every year. to calculate. It can be seen from this year's report that from the perspective of transaction prices, the distribution of point unit prices in each transaction year is quite different. The average transaction unit price in 2020 was 1,204 yuan/minute, and nearly 90% of the transaction unit prices in 2019 were no more than 500 yuan/minute. , while the points order transactions in 2018 were mainly concentrated within 1,000 yuan/minute.
The transaction scale of new energy points in 2020 has increased year by year. From 2018 to 2020, the total number of transactions in the golden year was 4.26 million points, with a value of 3.17 billion yuan, of which the transaction scale in 2020 was 2.15 million points, and the transaction volume was 2.59 billion yuan, a year-on-year increase of 40%.
Behind this phenomenon, the price of points is also rising. It is understood that FAW-Volkswagen previously purchased new energy vehicle points from Tesla at a unit price of 3,000 yuan/point. In other words, if calculated based on the price of 3,000 yuan/minute, Tesla’s points value alone in 2020 will be as high as 2.58 billion yuan; the points values owned by BYD and SAIC-GM-Wuling are also as high as 2.262 billion yuan and 1.32 billion yuan respectively. 100 million yuan; if the four new car-making forces including Weilai, Xpeng, WM Motor, and Ideal sell all their points, they can obtain points transaction income of 600 million yuan, 330 million yuan, 300 million yuan, and 210 million yuan respectively.
However, some are happy and some are sad. Points trading has increased revenue for many car companies, but it has also increased the burden on car companies with negative points. You should know that passenger car companies can only declare new products within the fuel consumption limit before the negative points compensation is reset to zero.
What is surprising is that the net ‘double points’ generated by the six major domestic automobile groups last year were all negative. As the unit price of new energy vehicle points continues to rise, these car companies have generally experienced increased losses. Take Changan Automobile for example. Last year, the profit of bicycles was reduced by about 4,000 yuan due to the "double points" gap.
Written at the end: from 201Since the implementation of the dual-point policy seven years ago, the mandatory requirements for the consumption of fuel vehicles are gradually tightening, and major car companies are also undergoing rapid transformation because of this. The reason is, on the one hand, that due to policy guidance, the market size of new energy vehicles is gradually expanding. A late deployment may allow competitors to get in first. As a business operation, of course, profit comes first. For example, Volkswagen is eager to promote the MEB platform. The car model is easy to understand. On the other hand, cars as industrial products are transforming into smart products, and consumer demand is also constantly changing. It is only a matter of time before traditional fuel vehicles are gradually replaced by smart new energy vehicles.