Five administrative departments of Chinese government are soliciting opinions on incentive policies for new energy vehicle (NEV) infrastructure construction and on strengthening NEV popularization, according to the Ministry of Finance on Wednesday.
According to a document jointly issued by the five authorities, the government will reward major provinces and cities of air pollution control with prizes between 90 million yuan and 120 million yuan for popularizing more than 30,000 units of NEVs in 2016. In 2020, these cities will be rewarded with prizes between 126 million yuan and 200 million yuan for popularizing more than 70,000 units of NEVs.
The prizes will be used to support the construction, operation and upgrade of NEV charging facilities and the construction of operation and supervisory system for NEV battery charging and swapping service network.
Analysts believe China's NEV charging and swapping equipment market scale will exceed 100 billion yuan in the future.
A group of A-stock listing companies will become beneficiaries, including Shenzhen Auto Electric Power Plant Co., Ltd. (002227.SZ), Qingdao TGOOD Electric Co., Ltd. (300001.SZ) and Zhejiang Wanma Co., Ltd. (002276.SZ).
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