Smart and Sustainable Electric Mobility
Volkswagen's EV share in China market is now below 3% due to competition from rivals like BYD, Tesla and Aion.
The post VW ID.3 slashed price by 16% in China, currently starting at 16,600 USD appeared first on CarNewsChina.com.
Fiat on Wednesday revealed two more EVs—one smaller, and one larger, than the reborn 500e the automaker has confirmed for U.S. sales starting in early 2024. The Fiat 600e is a small crossover with a name that references the classic Fiat 600 of the 1950s. The five-door 600e is presented as a more practical alternative to the three-door 500e... 
Stellantis on Wednesday revealed some technical highlights of its STLA Medium platform, one of four dedicated EV platforms in development for future electric models. The automaker revealed its STLA platform strategy two years ago this month, unveiling STLA Medium alongside the STLA Small, STLA Large, and STLA Frame platforms, but up until now it... 
China has revised its dual-credit policy, one of the key drivers of the rapid growth of the NEV industry, and the changes will take effect on August 1.
(Image credit: CnEVPost)
China's so-called dual-credit policy, implemented over the past several years, has been a key driver of the rapid growth of the new energy vehicle (NEV) industry. Now the policy is seeing the latest revisions, with car companies earning fewer credits for producing NEVs.
China's Ministry of Industry and Information Technology (MIIT) today released the latest update to the policy, which will go into effect on August 1.
One of the most significant changes is the average reduction of about 40 percent in credits for standard models of new energy passenger vehicles, according to the MIIT.
After the adjustment, car companies will receive credits for each NEV produced calculated as follows:
For pure electric passenger cars, the credit calculation formula for standard models is 0.0034 x R + 0.2, where R is the range in km.
For plug-in hybrid passenger cars, a standard model's credit is 1.
For fuel cell vehicles, the credit formula for a standard model is 0.05×P, where P is the rated power of the fuel cell system in kW.
The upper limit of the standard model credit for pure electric passenger vehicles is 2.3, and the upper limit of the standard model credit for fuel cell passenger vehicles is 4.
Prior to this adjustment, NEV credits were calculated as follows:
For pure electric passenger vehicles, the standard model credit calculation formula was 0.0056 x R + 0.4.
For plug-in hybrid passenger vehicles, the standard model credit was 1.6.
For fuel cell vehicles, the standard model credit calculation formula is 0.08×P.
The upper limit of standard model credit for pure electric passenger cars is 3.4, and the upper limit of standard model credit for fuel cell passenger cars is 6.
Take a model with a CLTC range of 500 km as an example, before the latest adjustment, a car company could earn 3.2 credits. After August 1, the credit will be 1.9, a reduction of 40.63 percent.
China released the dual-credit policy in 2017, which is known as the " Parallel Management Measures for Average Fuel Consumption of Passenger Vehicle Enterprises and New Energy Vehicle Credits". The policy has been in effect since April 1, 2018.
Automakers that fail to meet the fuel consumption control requirements can offset the negative credits from excessive fuel consumption by generating their own NEV credits, or by purchasing credits from other companies.
If a car company is unable to get its negative credits to zero, then they need to submit a product adjustment plan to the MIIT and set a deadline for compliance.
Until their negative credits are zeroed out, the substandard products cannot be sold to the public.
In essence, this amounts to penalizing car companies that continue to produce vehicles powered entirely by internal combustion engines and using these fines to subsidize the production of NEVs.
In addition to reducing the number of credits generated per NEV produced, the latest adjustments include the establishment of a credit pool management system.
Under this system, when there are too many credits, automakers can voluntarily store positive credits in the pool, which is valid for five years. When the number of credits is too low, they can withdraw their stored positive credits.
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BYD launched the Dolphin in Hong Kong in late May and brought the model to Australia and Brazil in late June.
(Image credit: BYD)
BYD (OTCMKTS: BYDDY) has launched the Dolphin in Singapore as it introduces the compact electric vehicle (EV) to more markets.
The Chinese new energy vehicle (NEV) giant held a launch event for the BYD Dolphin with Singapore dealer Vantage Automotive on July 3, its second all-electric passenger car model offered in the Southeast Asian country after the Atto 3, according to an announcement from the company today.
BYD launched the Atto 3 in Singapore in 2022, and the model was the top-selling all-electric vehicle in the region in the January-May period, according to James Ng, managing director of BYD Singapore.
The BYD Dolphin is expected to be popular with customers of all ages in Singapore and will enter the lives of more Singaporeans, he said.
The BYD Dolphin, which went on sale on August 29, 2021, is an all-electric compact car with a current starting price of RMB 116,800 ($16,120) in China.
The model is the first to be built on BYD's pure electric platform e-Platform 3.0 and is equipped with a blade battery.
The BYD Dolphin currently has a starting price of S$156,888 ($115,990) in Singapore, a price that includes COE (Certificate of Entitlement), which gives residents the right to own and use the vehicle in Singapore.
This is the latest market that the Dolphin has entered, with the model entering the Hong Kong market in late May and Australia and Brazil in late June.
BYD sold 253,046 NEVs in June, up 88.79 percent from 134,036 units in the same month last year and up 5.34 percent from 240,220 units in May, according to data released earlier this month.
In June, BYD sold 10,536 NEVs in overseas markets, up 3.26 percent from 10,203 units in May.
($1 = RMB 7.2458, $1 = S$1.3526)
BYD launches Dolphin in Brazil, enters South African EV market with Atto 3
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