Recently, the All-China Federation of Industry and Commerce (hereinafter referred to as the Federation of Industry and Commerce) submitted the "Proposal on Increasing Financial and Tax Support for the Power Battery Industry" (hereinafter referred to as the "Proposal"). It is suggested that research should be conducted soon before the withdrawal of the subsidy policy. The tax-related support policies for battery-related companies.
The "Proposal" proposes that the VAT general taxpayer should sell its self-produced power battery products, and reduce the VAT rate of the power battery from 17% to 11%; refer to the state's support for the technology-based SMEs, and research and development of power battery companies. The deduction for the cost plus deduction is increased from 50% to 75%.
"Daily Economic News" reporter noted that after the Ministry of Finance and other four ministries and commissions adjusted the subsidy program for new energy vehicles, power battery manufacturers are facing pressures for cost growth, and the threshold for development is also constantly rising.
Power battery into a competitive key
The automotive industry is undergoing changes.
In July last year, the British Environment Minister Michael Goff said that as part of the clean air policy, the United Kingdom will stop selling fuel vehicles to reduce air pollution since 2040. This is another country following the Netherlands, Norway, Germany, and France, joining the ranks of the banned fuel vehicles.
New energy vehicles will lead the development of the automotive industry in the future, and will also be an opportunity for China to realize overtaking in the cornering of the auto industry. It is the only way for China to move from a big automobile country to a powerful automobile country.
Among them, one of the cores supporting the rapid development of new energy vehicles is the power battery, which is also a key area for competition among major auto manufacturers in the world.
"The 13th Five-Year National Strategic Emerging Industries Development Plan" emphasizes "building a competitive battery power industry chain". The State Council issued the “Energy Conservation and New Energy Vehicle Industry Development Plan (2012~2020)†that China should focus on building the power battery industry and accelerate the cultivation and development of a batch of power battery manufacturing companies with continuous innovation capabilities. In 2020, the power battery industry as a whole will reach the international advanced level and form a group of companies with strong competitiveness.
In February this year, the "Circular on Adjusting and Perfecting the Financial Subsidy Policy for the Promotion and Application of New Energy Vehicles" proposed to further improve the energy density threshold requirements for power battery systems for pure electric passenger cars, non-fast-charged pure electric passenger cars and special vehicles, and encourage high performance. Power battery applications; New energy passenger cars and new energy buses on board during the transition period are 0.7 times higher than the corresponding standards in the Notice on Adjusting the Financial Subsidy Policy for the Promotion and Application of New Energy Vehicles by the Ministry of Industry and Information Technology of the Ministry of Finance and Industry of the Ministry of Finance. Subsidies, new energy trucks and special vehicles are subsidized at 0.4 times, and fuel cell vehicle subsidies are unchanged.
In this regard, the future will impose higher requirements on the performance of power battery manufacturers. Prior to this, the Action Plan to Promote the Development of Automotive Power Battery Industry proposed that by 2020, the specific energy of new lithium-ion power battery cells exceeds 300 watt-hours/kg; in 2025, a new system of power batteries with a specific energy of 500 watts will be realized. Hour/kg.
The "Proposal" pointed out that in order to achieve this target, enterprises need to invest large amounts of manpower and material resources, overcome technical difficulties, and have huge capital requirements.
Power battery company financial pressure
The Federation of Industry and Commerce pointed out that under the circumstances of national subsidies for retreat and full exit by 2020, the prices of raw materials for power batteries have risen sharply. China's power battery manufacturing companies are facing greater financial pressure, and even some companies are facing bankruptcy.
At present, the leading Japanese and Korean power battery companies, most of the R&D expenses are borne by the government, and the VAT tax rate is only 10%; while South Korea's power battery companies are also adopting low-cost strategies in an attempt to overwhelm China's power battery industry.
For this reason, the "Proposal" proposes that at present the new energy automobile industry has entered the growing period from the cultivation period, and the country has basically determined that the subsidy policy will completely withdraw after 2020, but the new energy vehicle still has obvious cost disadvantage compared with the traditional car. . In order to ensure the sustained and rapid development of the industry and realize the goal of moving from a large automobile country to a powerful automobile country and consolidating China’s leading advantages in the fields of new energy vehicles and power batteries, the Federation of Industry and Commerce proposed that it should study the introduction of power battery related companies as soon as possible before the withdrawal of the subsidy policy. Fiscal support policies.
The Federation of Industry and Commerce proposed that the VAT general taxpayer sell its self-produced power battery products and reduce the power battery VAT tax rate from 17% to 11%. Reducing corporate tax burdens, allowing companies to invest more capital into advanced technology research and development, improve their technological level as soon as possible, and occupy the commanding heights of international competition.
At the same time, the Federation of Industry and Commerce also proposed, with reference to the state’s support for technology-based SMEs, deducting the proportion of deductions for R&D expenditures for power battery companies from 50% to 75%; and to the technical progress and technological transformation projects of qualified power battery companies, Give a certain amount of investment in financial subsidies.
In addition, Industrial Securities stated in the report that the cost reduction of the power battery has no time to delay. The subsidy retreat urges the entire industry chain to reduce costs, and the power battery sector will bear the brunt. The enterprises that have taken the lead in achieving cost reduction will take the initiative in the next round of regression.
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