Market news today revealed a notice issued by the National Development and Reform Commission titled 'Regarding the Investigation of New Energy Vehicle Production and Project Status' (hereinafter referred to as the 'Notice'). The Notice requests that local Development and Reform Commissions report their regional new energy vehicle investment status to the NDRC's Industrial Department by November 18.
The Notice requires local Development and Reform Commissions to provide details on projects, including newly approved and registered pure electric vehicle projects since 2015, construction progress, and annual production status, as well as operational updates on existing new energy vehicle investment projects from 2019 to 2010 and ongoing project filings. The third requirement asks for detailed reports on regional planning and investment promotion for pure electric vehicle projects in each area. $EVERG VEHICLE (00708.HK)$Detailed reports must include investments made by enterprises such as Evergrande and Baoneng since 2017, along with proposed new energy vehicle and parts manufacturing projects, covering land use, construction content, project progress, and completed investments.
Another insider from an automaker, who wished to remain anonymous, stated that this move not only aims to assess the current situation but also signals a desire to prevent overcapacity in the new energy vehicle sector.
The Notice highlights that this year’s State Council General Office's 'New Energy Vehicle Industry Development Plan (2021-2035)' (referred to as the 'Plan') explicitly calls for strengthening mid-term and post-event regulation, reinforcing local government accountability, and curbing disorderly launches of new energy vehicle manufacturing projects. This measure is intended to enhance investment oversight...