Shanghai (ZXZC)- The Ministry of Industry and Information Technology of the People's Republic of China (MIIT) unveiled the information about the corporate average fuel consumption and NEV credits of passenger vehicle companies in 2017 on Apr. 10.

During 2017, 99 domestic passenger vehicle companies produced a total of 21,730,000 passenger vehicles. 55 self-owned vehicle companies created 1,690,000 NEV credits in total. Particularly, BYD yielded the most NEV credits of 223,399 among the 99 passenger vehicle companies. BAIC BJEV ranked second with 218,464 NEV credits.

It is also revealed that 22 passenger vehicle companies in China boasted NEV credits of over 10,000 in 2017, including SAIC and Geely. However, 44 passenger vehicle companies had no NEV credits at all, including BAIC Group, Beijing Mercedes-Benz, Dongfeng Honda, Zotye and Daqing Volvo.

29 vehicle importers owned NEV credits of 106,000 in total. Among them, Tesla boasted the most NEV credits, which are up to 85,000 and taking up 80% shares of the total NEV credits among the 29 companies. Jaguar Land Rover, Volkswagen Import and Porsche ended with NEV credits of 5,000, 4,000 and 2,000 respectively.

Given all of these negative fuel consumptions can be offset by buying new energy credits and one NEV credit equals RMB 1,000, Changan Ford needs to spend RMB 288 million and GWM needs RMB 160 million. That means these vast negative fuel consumption credits are great burden for these fuel-guzzling companies.