Recently, Byd Company Limited(002594) announced that the company will stop the production of fuel vehicles from March 2022. In the future, we will focus on pure electric and plug-in hybrid vehicle business. This indicates that Byd Company Limited(002594) has become the first auto company in the world to officially announce the shutdown of fuel vehicles.
The global energy revolution is in full swing. Whoever takes the lead can obtain the first mover advantage and get more attention from all parties. Therefore, Byd Company Limited(002594) this move can be said to conform to the general trend. In fact, not only Byd Company Limited(002594) , but also more and more Chinese foreign car enterprises have begun to formulate a timetable to stop the production and sales of fuel vehicles. For example, Chang’an, BAIC group and Nissan are expected to stop the sales of fuel vehicles in 2025 or after 2025.
Although some new energy vehicle enterprises have recently raised prices due to raw material costs and other factors, according to the passenger Federation, the retail sales of new energy passenger vehicles reached 272000 in February, a year-on-year increase of 180.5%. The retail penetration rate of China Shanxi Guoxin Energy Corporation Limited(600617) automobile reached 21.8%, 13 percentage points higher than that in February last year. Under the background of “double carbon”, the balance of traditional automobile enterprises is gradually inclined to new energy, and the layout of new energy tracks in advance will further force the accelerated transformation of energy technology. New energy technologies such as electric energy, photovoltaic and hydrogen energy are expected to be popularized and applied on a large scale in a shorter time.
At the same time, we have to face a problem that the new energy vehicle track is not a smooth road and still faces many challenges. For example, we still face the problem of “neck sticking” on the automobile chip, the supporting infrastructure such as charging pile is not perfect, and the endurance capacity of power battery needs to be strengthened.
The author believes that in the race track of energy transformation, we should pay more attention to scientific and technological innovation and make up for the shortcomings of development. From the development situation of China’s energy science and technology, China has accelerated its transformation from “following and running together” to “leading and leading”, but the large-scale application of new energy vehicles still needs the support of scientific and technological innovation. Only by constantly replenishing the shortcomings of batteries, chips and battery life can we enhance the confidence of “oil cut-off”.
Based on the huge market potential brought by the “double carbon” goal, Chinese foreign car enterprises have seized the new energy track, and green travel is no longer just a slogan. Especially based on energy technology innovation, electric vehicles, hydrogen energy vehicles and photovoltaic vehicles are favored by the capital market. The popularization and application of the transformation from traditional petrochemical energy to clean energy may come in advance. With the continuous rise of international oil prices and the shortage of fossil fuel resources, more than 70% of China’s oil depends on imports. If we can make major breakthroughs in chips, power batteries and other links, the new energy vehicle industry will have more development space, which is very important for China’s energy independence and security.
Byd Company Limited(002594) took the lead in “cutting off oil” and released a clear signal. The repeated bullish valuations of “lixiaowei” and Contemporary Amperex Technology Co.Limited(300750) also fully show that the new energy track is also favored by the capital market. However, the shift speed of new energy vehicles to catch up with fuel vehicles needs to solve the current challenges and difficulties step by step. The transformation of China’s energy technology will not be achieved overnight, but also needs the joint efforts of the whole society.
