The policy of the final version of the new energy battery still needs to wait, and industry adjustment and differentiation can be foreseen

Recently, the Ministry of Industry and Information Technology issued the "Regulations for Automotive Power Battery Industry". In the specification, the capacity specifications of batteries and pack companies have been greatly improved (8GWh, 4GWh respectively). At the same time, recent reports on the subsidy standards for new energy vehicles have been circulating in the network (see the electric vehicle resource network for details), and the subsidy standards are quite different from the current models of the system. Both have attracted market attention.

in conclusion:

1. For the draft of the battery industry standard of the Ministry of Industry and Information Technology, the industry responded strongly, and most of them were negative evaluations.

2. The differentiation of the battery industry is an industrial trend. Under the market-oriented environment, it will gradually concentrate on effective supply. If the above policies are passed, it may accelerate the integration and differentiation of the industry. For the high production capacity threshold, more companies may still choose to expand production rather than mergers and acquisitions.

3. The net transfer subsidy standard is a relatively strict standard. The threshold for setting is high. It is expected that a considerable proportion of participants may be difficult to reach the standard. The final subsidy standard remains to be seen.

Investment Advice:

Before the market demand for new energy vehicles is strong enough, or the industrial structure has been reorganized and reorganized, investors and industry participants should keep some distance from the edge battery companies and their supply chains. The main theme of the industry in the future is marketization, differentiation, technological progress, and leading enterprises with core competitiveness, which can be concerned.