In 2024, the seventh batch of the new energy vehicle tax exemption catalog was announced. Cui Dongshu: Products with high energy density batteries are more abundant.

Recently, the Ministry of Industry and Information Technology website announced the 7th batch of new energy vehicle models eligible for reduced vehicle purchase tax. Cui Dongshu stated that overall, the tax-exempt vehicle models have seen a steady improvement in technology, with a significant number of pure electric passenger cars having a range of over 600 kilometers and a rich variety of high-energy density battery products. There are no hydrogen fuel vehicle models for passenger cars, but there are many competitive new energy vehicle models introduced by independent traditional car manufacturers. It is regrettable that there are fewer short-range products, as shorter range does not indicate technological backwardness but rather cost-effectiveness and better suitability for consumer demand, which is influenced by the tax exemption decision. 1. Overall situation of the 2024 tax-exempt catalog In 2024, there are a total of 20,085 new energy vehicle models in the tax-exempt catalog, with a higher number compared to previous years due to the larger first batch, indicating a higher quantity of new energy vehicle models compared to the normal levels of recent years. The new energy vehicle catalog has been gradually enriched in recent years. The 2024 new energy passenger car catalog has a relatively larger number of models overall, indicating a flourishing development of new energy vehicles this year. 2. Changes in powertrain structures Due to subsidy factors, hydrogen fuel commercial vehicles have shown strong performance recently, surpassing plug-in hybrids to become the main products in the declaration catalog. In 2024, there are 3,965 passenger car models, with a higher number of pure electric vehicles and a recent surge in plug-in hybrids. There are 3,792 public transport vehicles, with pure electric vehicles remaining the main force and a slight recovery in plug-in hybrids. There are 12,208 special vehicles, with pure electric vehicles as the absolute main force and 887 hydrogen fuel vehicles. There are no hydrogen fuel products for passenger cars in the second half of 2024, which aligns well with market demand. 3. Updates and changes in the 2024 new energy catalog The 2024 new energy vehicle catalog maintains high characteristics, especially with a rapid increase in hydrogen fuel specialized vehicles, forming a strong growth trend relying on subsidies. 4. Range of pure electric passenger cars in 2024 The overall range of new energy vehicles continues to increase, with a significant increase in pure electric vehicles from 2018 to 2023. In 2024, there are many models of pure electric passenger cars with a range of over 500 kilometers, as well as improvements in models with ranges below 250 kilometers. The range of pure electric passenger cars remains stable. The number of products with a range exceeding 600 kilometers in 2024 continues to increase, indicating significant technological advancements. 5. Energy density of batteries The energy density of batteries in pure electric vehicles has been slowly increasing in recent years. In 2024, there is a gradual market-driven push for technological advancement, reflecting the good effect of passenger car products moving away from subsidies. There is an increase in models with around 140 watt-hours. 6. Energy density of various types of vehicles The energy consumption of vehicles with a range of over 300 kilometers is generally around 13 degrees, with a slight increase in energy consumption for longer ranges. The battery energy density for ranges over 400 kilometers is above 140. Plug-in hybrid models are divided into extended-range and plug-in hybrids, with around 150 kilometers being the benchmark. The energy consumption for extended-range models is relatively low at around 20 degrees per 100 kilometers, while plug-in hybrids have a higher level of around 23 degrees. 7. Analysis of pure electric passenger cars There are many new competitive independent products in the market, with AEAN having a particularly low energy consumption and strong practical advantages. 8. Tracking of new plug-in hybrid vehicles Domestic brands such as Chery, BYD Company Limited, Changan, Geely, and others have shown good performance in plug-in hybrids. The energy consumption of some models has been reduced to below 20 degrees per 100 kilometers, indicating good performance.