November is the peak season for automobile sales, and this year, sales of new energy vehicles are particularly strong.
The new car-making forces, known as the electric three fools of "Wei Xiaoli", have announced that sales exceeded 10,000 in November.
The delivery volume of Xiaopeng Automobile reached 15,613 units, an increase of 270% year-on-year; ideal automobile also exceeded 10,000 units for the first time, delivering 13,485 units, an increase of 190.24% year-on-year; Weilai Automobile delivered 10,878 units, an increase of 105.6% year-on-year. Even the sales of Nezha cars in the second echelon reached 10,013.
As a result, people exclaimed that the new forces of car-making have entered the era of breaking ten thousand.
However, the good news of the new car-making forces seems to be just to throw bricks and stones. People immediately saw byBYD's thrown wang bomb: IND's new energy vehicle sales reached 90,121 units in November, and it is likely that it will once again win the global monthly sales championship of new energy. In July, August and October this year, BYD was the global new energy champion.
Smart electric for the automotive industry, similar to smart phones for the mobile phone industry, digital cameras for the camera industry, e-commerce for the retail industry. In this kind of global industry change of old and new, traditional giants often behave helplessly and are surpassed or replaced by new forces. However, BYD seems to be proving that in the automotive industry, traditional giants are not so "incompetent".
Bydir outside the halo
Before the new forces of car building rise. BYD has been suppressed by a number of domestic brands such as Chery, Geely, and Great Wall, and there is no wonderful cross-border merger and acquisition story of Chery and Geely, nor does it have the reputation of Great Wall Haval among netizens. On the contrary, BYD has been ridiculed and ridiculed by netizens from its name to its design.
Although BYD has the investment of the god Buffett, Wang Chuanfu is also praised by Munger as "a hybrid of Edison and Welch", but in the field of public opinion, it is difficult for Wang Chuanfu and BYD to occupy the C position.
After the resurgence of the wave of new energy vehicles and the emergence of new car-making forces, BYD has not been able to stand in the spotlight. Three years ago, Musk was interviewed by Bloomberg. When the host mentioned BYD, Musk laughed wildly and said, "Have you seen their car?" ”。 BYD's disdain has spilled over the screen.
In China, BYD does not have the ups and downs of Weilai Automobile's business story, no Li Xiang's distinctive personality label and Wang Xing's hard sales, nor the sexy story of Xiaopeng Automobile's Internet executives. When it comes to new energy vehicles, the media and the public's attention is more focused on the "electric three fools", as well as the technology companies that have been intensively down since last year, Baidu, Xiaomi, Ali, Huawei and so on.
In 2003, BYD acquired Qinchuan Company and officially entered the automobile manufacturing industry. The past nearly 20 years have been a golden period for the vigorous development of China's automobile industry. In this process, BYD seems to have been outside the aura of the auto industry. This may have something to do with Wang Chuanfu and the engineer culture he has shaped for BYD, but this does not affect its gradual growth in the new energy automobile industry.
In 2008, BYD released the world's first mass-produced plug-in hybrid model, the F3D. In 2011, BYD released the first pure electric vehicle model for domestic individual users - the e6 forerunner. After 2013, qin, Tang, Song, Yuan, Han and other brand models named after the dynasty have been released one after another. It is also from 2013 that BYD ranked first in China's new energy vehicle sales for 8 consecutive years, and it is not surprising that it will achieve nine consecutive championships in 2021.
On May 19 this year, BYD New Energy Vehicles also welcomed its 1 millionth vehicle, becoming the first Chinese new energy vehicle brand to enter the "Millions Club". On the one hand, it is the "male number two" in the field of public opinion, on the other hand, it is the protagonist in the real market, and bydir's image does not seem to be worthy of strength, just like the students who have been immersed in hard work, they have amazed the whole class in one exam after another.
BYD of the whole industry chain layout
Why BYD? This is related to its layout of the whole industrial chain. There is a question in the B volume of this year's college entrance examination - "Enterprise A adopts a vertical integration model, launched the first new energy vehicle in 2008, and is the only new energy vehicle enterprise that has mastered the core technology of sandian", which is BYD. When the host asked Wang Chuanfu about this topic at the Yabuli Entrepreneur Forum, he was low-key and domineering, "I can do batteries, I can do motors, and I can also do electronic control, and the world is currently BYD." ”
The last to be famous for the whole industry chain was COFCO. Ten years ago, with consumers as the guide, COFCO's business covered planting and procurement, trade and logistics, processing of food raw materials and feed raw materials, breeding and slaughtering, food processing, logistics and transportation, food sales and other aspects of the industrial chain, realizing the closed loop of "from field to table". COFCO's whole industry chain model has become a classic business case.
In the new energy and automobile industries, BYD is also building two whole industry chain layouts, one is the battery-motor-electronic control-IGBT as the core of the electric vehicle industry chain, and the other is the photovoltaic-battery-energy storage-automobile new energy industry chain. This is also the core difference between it and new car-making forces, technology giants and traditional car companies.
In the field of batteries, BYD is based on batteries, and it is also the most capable of making batteries among global automakers. According to recent data from SNE Research, a South Korean research institute, the global installed capacity of BYD power batteries was 2.2GWh in October, and the cumulative capacity from January to October was 18.4. From the perspective of single month or cumulative, they are the fourth largest power battery companies in the world, and BYD is also the only vehicle company in the top eight.
In 2019, BYD established Fordy Battery and plans to list it independently in 2022-2023. The battery company also has the layout of the whole industry chain of power batteries. It includes from core mineral resources to battery core raw material development/manufacturing, battery cell research and development and manufacturing, module design and manufacturing, BMS design and manufacturing, PACK design and manufacturing, cascade utilization and recycling, etc.
In 2010, BYD acquired 18% equity in The Lithium Mine of Tibet Mining for 200 million yuan. In October this year, Sichuan Luqiao also established a joint venture with BYD and others to comprehensively develop phosphate ore resources and lithium iron phosphate projects.
In particular, the blade battery launched last year has made BYD a guest of honor for many new energy vehicle manufacturers. "Almost every car brand you can think of is negotiating cooperation with Fordy Battery, and blade batteries will be successively installed in new energy models of mainstream brands at home and abroad," Wang Chuanfu once said.
Last year, the auto industry exploded the chip crisis, the chip shortage made Weilai Automobile directly stop work, and ford, Honda, Toyota, Volkswagen and other brands also had to open a production reduction model. In this regard, Wang Chuanfu said in April this year that due to the advance layout of chip self-research, the current global automotive industry experienced the problem of lack of core production, BYD has not been affected in the slightest.
The advance layout of Wang Chuanfu said is that after the acquisition of Ningbo Zhongwei Semiconductor in 2008, it has successively overcome core technologies such as chip design, wafer manufacturing, testing, and packaging, and has become the only car company in China with a complete industrial chain of IGBT. IGBT, that is, a composite fully controlled voltage-driven power semiconductor, is the core device of energy conversion and transmission, commonly known as the "CPU" of power electronic devices. The cost of a single IGBT chip is about $300, and the data in 2019 shows that the market rate of BYD IGBT chips has reached 19%, second only to Infineon of Germany, ranking first in China.
Based on multi-party data, in the first half of 2021, BYD is the only company that has achieved all self-production of batteries, motors, and electronic control systems, and its market share has entered the top three in China. No wonder Wang Chuanfu had the courage to say in 2013, "Once household consumption starts, BYD can create a 'Tesla' in minutes." BYD's experience confirms the chicken soup saying, "You have to work hard to look effortless."
In the new energy industry chain, BYD Photovoltaic already has monocrystalline and polycrystalline modules, and is the world's first and only photovoltaic module manufacturer to achieve mass production of silicone packaging. According to the data, as of September 2020, BYD PV's cumulative shipments exceeded 10GW, and it has been continuously selected into the first echelon of the PV module manufacturer list (Tier 1) released by Bloomberg.
Energy storage is the core link of the new energy industry, and solar power generation and wind power generation need energy storage. Especially with the establishment of the double carbon target, the energy structure has accelerated, and the energy storage industry has ushered in great opportunities. In this regard, BYD has also ranked among the world's first echelon, successively releasing the world's first MW-class (MW) commercial battery energy storage power station, the world's largest user-side iron battery energy storage system, and the world's first launch of the modular concept of household energy storage products. At present, BYD's energy storage business has involved more than 50 countries around the world, and as of the first quarter of this year, the company's total global sales volume exceeded 1.7GWh.
From energy production, energy storage, consumption to recycling, BYD has also established a closed loop of the whole industry chain in the field of new energy. And in the context of carbon neutrality, the potential value of new energy will not be lower than that of the automobile industry.
It's hard to classify BYD
One hand car consumption, one hand energy industry, this is not all BYD. According to BYD's semi-annual report in 2021, of the more than 90 billion yuan in revenue in the first half of the year, the automobile sector accounted for only 43.08%, and the larger than it was the mobile phone parts, assembly and other product business, accounting for 47.46%.
Yes, BYD's other half is the world's second largest foundry after Foxconn, Xiaomi, OPPO, Huawei, Honor's mobile phones, and Apple's new iPad are all produced by BYD. The greatest value that FOUNDRy gives to BYD is its production capacity and supply chain capability. During the epidemic last year, BYD became the world's largest mask manufacturer in just 24 days, producing up to 100 million masks per day.
The combination of consumer electronics such as mobile phones and the automobile industry is a major direction of the current transformation of the automobile industry, and a number of mobile phone manufacturers have made cars. BYD, which holds the production capacity of consumer electronics and the industrial chain of new energy vehicles, is invisibly standing in the most advantageous position.
So far, BYD has become a unique enterprise, with business across multiple chains such as automobiles, batteries, energy storage, IT, semiconductors, and rail transit, mixed with the temperament of Ningde era + Tesla + Foxconn, behind which are several major outlets in the next few decades such as intelligence, green energy, and carbon neutrality. It is difficult to define BYD in one word, saying that half of the business income of technology companies comes from OEM; saying that automobile companies, half of the income comes from outside the automobile; saying that new energy companies, and there are a large number of intelligent terminal products...
The most critical thing is that in many business areas, BYD is basically in the top two positions. New energy vehicles rank first in China; battery business is second in China, second only to the Ningde era, many people have begun to predict that BYD will surpass Panasonic to become the world's third; IGBT chips are the first in China; the world's first echelon of energy storage business; the foundry business is the second in the world... There are many businesses and each single can be played, which also makes such a diversified BYD very different from a certain vision and a certain big.
After World War II, Japan's economy took off, and a number of brands such as Panasonic, Sony, Hitachi, Toshiba, Sony, Toyota, Honda, and Nissan rose. In the past two decades, China's reputation as the world's factory has become increasingly popular, and it is also the only country in the world that has all the industrial categories in the United Nations Industrial Classification. Perhaps only in such soil can we produce enterprises like BYD with cross-field production capabilities.
Judging from BYD's industrial layout, it is still in its infancy, AND's bench is deep enough, any business grows up to be a towering tree, and it is almost impossible to find a company similar to it. With the independent operation of battery companies and semiconductor companies, their external supply capacity has been further improved; with the promotion of carbon neutrality goals, the value of its photovoltaic and energy storage industries has been further released, and the future OFD is unlimited. Of course, the premise is that BYD itself does not make major mistakes.