The development path of new energy vehicles is becoming clear

　　With the promulgation of policies to promote the development of the industry one by one, the development path of new energy vehicles has gradually become clear. Research institutions believe that benefiting from the "spring breeze" policy, energy-saving and new energy vehicles are expected to achieve technological breakthroughs, and then promote their industrialization process, and the beneficiary industries are expected to achieve substantial growth. Investors can tap investment opportunities in related sub-sectors.

　　After the Ministry of Industry and Information Technology issued the "Twelfth Five-Year" Industrial Technology Innovation Plan, which clarified that energy-saving and new energy vehicle technology will become the key breakthrough technology direction in the field of equipment manufacturing in the next five years, the four ministries and commissions subsequently issued the "Concerning Further Improvement of Energy-saving and New Energy Vehicle Technology" Notice on the Pilot Program of Demonstration and Promotion of Energy Vehicles. The "Notice" requires that while implementing the central pilot policies, each pilot city should actively study the implementation of restrictions on new energy vehicles such as exemption from license plate auctions, lottery, and traffic restrictions, and introduce supporting policies such as parking fees, electricity prices, and road tolls.

　　Most securities firms believe that the "Twelfth Five-Year Plan" for Industrial Technology Innovation will promote technological breakthroughs in energy conservation and new energy vehicles, and further promote the industrialization of new energy vehicles. The relevant beneficiary industries are expected to achieve substantial growth. The "Notice" shows that my country's energy-saving and new energy vehicle technology development path has gradually become clear.

　　According to the analysis of Northeast Securities, the "Notice" resolved the impact of the debate on the technical route on the development of new energy vehicles. Premier Wen Jiabao once said in his speech that the development direction and ultimate goal of China's new energy vehicles are not very clear. The market has some misunderstandings about this speech, which has a certain negative impact on the development of new energy vehicles. However, this "Notice" clarifies that "the demonstration and promotion of energy-saving and new energy vehicles has entered a new stage", which is undoubtedly to put aside the debate and continue to vigorously implement the established policies. At the same time, the "Notice" addresses the problem of weak policy implementation. The country has issued four policies on energy saving and new energy vehicles, but due to the lack of good organization and management, the implementation effect has been greatly reduced. Clear requirements greatly help to ensure the implementation of policies.

　　The Huatai United Securities Research Report believes that the aforementioned "planning" clarifies the government's pragmatic attitude towards the technical path of energy conservation and emission reduction of automobiles, that is, in the short term, the goal is to improve the fuel economy of power systems such as traditional internal combustion engines and reduce exhaust emissions, while taking into account the mid-term Hybrid power system technology, long-term layout of pure electric and fuel cell vehicle technology. This technical plan shows that energy saving and emission reduction of traditional internal combustion engines is still the most realistic goal of the current environmental protection policy.

　　At the same time, this technology innovation plan includes hybrid power-related technologies, indicating that the technology path for energy-saving and new energy vehicles in my country may be clear. Before the battery technology has achieved a substantial breakthrough, the hybrid power system is relatively mature, and it has very realistic industrial significance to incorporate this system into the development route of new energy vehicles in my country.

　　Combined with the scope and strength of the central and local governments' subsidies for energy-saving and new energy vehicles recently, Huatai United Securities believes that start-stop system passenger cars, hybrid buses, and plug-in plug-in hybrid cars are expected to be popularized first.

　　In the analysis of relevant sub-sectors, Minsheng Securities believes that for the field of parts and components, the automotive industries such as high-efficiency internal combustion engines, advanced transmissions, power batteries, motors, and electronic controls in the upstream of the industrial chain will be the first to benefit. Leading companies with obvious advantages in the market will get the first chance.