On April 3, Byd Company Limited(002594) automobile officially announced that according to its strategic development needs, the whole vehicle production of fuel vehicles will be stopped from March 2022. So far, “new energy vehicle leader” is no longer a slogan, and Byd Company Limited(002594) has become the first vehicle enterprise in the Chinese market to announce the cessation of fuel vehicle production and put it into practice.
Byd Company Limited(002594) said that in the future, Byd Company Limited(002594) will focus on pure electric and plug-in hybrid vehicles in the automotive sector Byd Company Limited(002594) will continue to provide continuous service and after-sales guarantee for existing fuel vehicle customers, as well as the supply of spare parts throughout the life cycle.
Byd Company Limited(002594) stopped production and the fuel truck was not without trace Byd Company Limited(002594) the latest production and sales express in March showed that the output of new energy vehicles in March was 106700, and the sales volume was 104900, while the production and sales volume of fuel vehicles were “0”; From January to March, the cumulative sales volume of Byd Company Limited(002594) fuel vehicles was only 5049, with a year-on-year decrease of 89.78%, accounting for only 1.7% of the total sales volume.
The data shows that in March 2021, the sales volume of Byd Company Limited(002594) new energy vehicles exceeded that of traditional fuel vehicles for the first time, reaching 59.33%. In 2021, the cumulative sales volume of Byd Company Limited(002594) new energy vehicles was 740000, including Suzhou Douson Drilling&Production Equipment Co.Ltd(603800) new energy vehicles, accounting for 81.58%; The sales volume of fuel vehicles was 136300, accounting for 18.4%.
At the same time, in the 2021 financial report Byd Company Limited(002594) just released, there was no mention of the development of fuel vehicles. Only in the automotive business part, it was said that “the group will actively grasp the historic development opportunities of the new energy vehicle industry”, “focus on market safety pain points”, “actively explore intellectualization” and “increase capacity expansion”.
For the next market performance, Byd Company Limited(002594) disclosed in the minutes of the investor meeting after the release of the 2021 financial report that the cumulative undelivered orders of Byd Company Limited(002594) have reached 400000, and are still increasing month by month. Accordingly, Byd Company Limited(002594) conservatively predicts that the sales volume in 2022 will be 1.5 million; If the supply chain improves, it will impact the sales target of 2 million vehicles. According to the minutes of the meeting, Byd Company Limited(002594) Han DM-I has good sales orders after listing, and it is expected that the monthly sales volume of Han series will exceed 30 China Vanke Co.Ltd(000002) 594 said that at present, the growth trend of raw material prices has slowed down. If the price of lithium carbonate remains at the current price, it will not have a great impact on the sales of new energy vehicles this year.
At the same time, Byd Company Limited(002594) disclosed the layout of some products this year in the financial report. In terms of plug-in hybrid, song Max DM-I, destroyer 05 and other models equipped with DM-I super hybrid technology have been listed one after another; In terms of pure electric, after dolphin, yuan plus models equipped with e-platform 3.0 have been listed in February 2022. In the future, more models equipped with e-platform 3.0 will be launched on dynasty.com and ocean.com.
It is also understood that Byd Company Limited(002594) is also further expanding the high-end market and launching high-end brands. The price range is expected to be more than 5 Ping An Bank Co.Ltd(000001) million yuan. After the equity change, Tengshi brand will also launch a new car to the market in 2022. According to the plan, Tengshi will launch three new models in the Chinese market in the next two years, including MPV and SUV.
From the overall performance of the current market, the demand of the new energy vehicle market is high, and the growth rate has completely crushed the fuel vehicles. According to the data of China Automobile Association, from January to February, China’s automobile production and sales completed 4.235 million and 4.268 million respectively, with a year-on-year increase of 8.8% and 7.5% respectively. Among them, 820000 and 765000 new energy vehicles were produced and sold, with a year-on-year increase of 1.6 times and 1.5 times Byd Company Limited(002594) investors’ meeting predicted that the annual penetration rate of new energy vehicles will exceed 35% and may reach 40%.
