Recently, the State Administration of Market Supervision of the Communist Party of China announced a number of auto recalls by car companies. Among the more than 40,000 vehicles recalled due to safety hazards, more than 33,000 are pure electric new energy vehicles, mostly produced by BAIC Group companies.
According to official media reports, a Shenzhen-based owner of a new FAW-Volkswagen GTE model recently said that the manufacturer’s claimed “56 kilometers of pure electric range” was “only about 44 kilometers of pure electric range on the dashboard, even after the vehicle is fully charged and automatically disconnected. “
The report said that some car companies are often responsible for shaking off, such as: the ideal ONE new energy car broken shaft incident, car companies first to “hardware optimization and upgrading” to prevaricate, and only after the public pressure to admit the existence of design defects; the aforementioned same brand products after a serious collision airbags still have not popped, car companies responded that “In the tesla electric car accident caused by unexplained acceleration, Tesla attributed the cause of the accident to the owner’s misuse.
Mainland China Consumers Association said that in addition to the range “water injection”, the main problems involving complaints about new energy vehicles in 2020 are: charging speed does not match the publicity; battery quality problems are prominent; transmission rattles, stuttering and power disappearance are more problems; after-sales service level is not high.
In addition, Evergrande Auto, a subsidiary of Evergrande Group, now has a market capitalization of HK$500 billion, making it the second largest car company in Hong Kong stocks after BYD, but the company does not yet have a mass-produced model on sale. According to the recently announced 2020 annual results, 98.79% of Evergrande Auto’s revenue comes from medical beauty and health management income, but only 1.21% of revenue comes from new energy vehicles, in terms of revenue share.
And the CPC local government blindly “race” to introduce new energy automobile projects, “some places to pull the project all conditions are given, some directly for the car companies to the land are leveled.” A local government employee revealed that “new energy vehicle projects are being grabbed, reviewed and screened with a ‘green light’, fearing they will be left behind.”
Since 2009, Chinese Communist authorities have been subsidizing new energy vehicles in China. After the escalation of the trade war between the U.S. and China, China’s new energy vehicle market turned a corner in 2019, with year-over-year sales declining. This is the first negative growth since the Communist Party has been vigorously promoting new energy vehicles for a decade.
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