Byd Company Limited(002594) officially announced the shutdown of fuel vehicles.
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 Byd Company Limited(002594) said, “this marks that Byd Company Limited(002594) has become the first auto company in the world to officially announce the shutdown of fuel vehicles.” “SOHO” announced that the production of fuel was stopped.
Source: Byd Company Limited(002594) official WeChat official account
It is worth noting that in recent years, governments around the world have successively introduced a timetable for banning the sale of fuel vehicles. Many auto companies have also launched their own plans to stop the production or sale of fuel vehicles. BAIC group will stop the sale of its own brand fuel vehicles except special vehicles in 2025, Chongqing Changan Automobile Company Limited(000625) said it would stop the sale of fuel vehicles in 2025. Jaguar announced that it would change to a pure electric brand in 2025. Volkswagen plans to realize the electrification of all models by 2030, and Honda plans to stop the sale of fuel vehicles in 2040.
In the announcement, Byd Company Limited(002594) also said, “in the future, Byd Company Limited(002594) will focus on pure electric and plug-in hybrid vehicles in the automotive sector.” For a long time, Byd Company Limited(002594) has been using the strategy of DM plug-in hybrid and ev pure electricity to develop the new energy market. As early as July 2018, the sales of Byd Company Limited(002594) new energy vehicles exceeded the sales of fuel vehicles for the first time.
The latest sales express shows that the sales volume of Byd Company Limited(002594) new energy vehicles reached 104300 in March, with a year-on-year increase of 160.9%, a record high. Among them, the sales volume of DM plug-in hybrid and ev pure electric vehicles was almost the same, and the sales volume of DM plug-in hybrid was 50700, with a year-on-year increase of 615.2%; The sales of EV pure electric vehicles were 53700, with a year-on-year increase of 229.2%.
In the past year, Byd Company Limited(002594) has achieved a leading position in Shanxi Guoxin Energy Corporation Limited(600617) automobile market. According to the data of China Automobile Industry Association, its market share of new energy vehicles reached 17.1% in 2021, with an increase of nearly 8% during the year.
Byd Company Limited(002594) 2021 annual report shows that its annual passenger vehicle sales volume is 713400, including 555000 new energy passenger vehicles, accounting for 77.79%; In terms of revenue, the sales revenue of new energy passenger vehicles reached 79.418 billion yuan, accounting for 70.6% of the total revenue of automobile and related businesses.
According to the annual report, Byd Company Limited(002594) achieved a revenue of 216142 billion yuan last year, a year-on-year increase of 38.02%; The net profit was 3.045 billion yuan, a year-on-year decrease of 28.08%. Among all business segments, the automotive business segment contributed the most, accounting for 52.04% of the total revenue. Last year, the revenue was 112489 billion yuan, a year-on-year increase of 33.93%.
