With monthly sales of new energy vehicles exceeding 100,000, BYD finally decided to say goodbye to fuel vehicles.
Red Star Capital Bureau noted that on April 3, BYD officially announced that it would stop the production of fuel vehicles from March 2022 according to its strategic development needs. In the future, BYD will focus on pure electric and plug-in hybrid vehicles in the automotive segment.
This marks that BYD has become the first car company in the world to officially announce the suspension of fuel vehicles.
At the same time, BYD will continue to provide perfect service and after-sales protection for existing fuel vehicle customers, as well as the supply of spare parts throughout the life cycle to ensure worry-free travel.
This strategic adjustment of BYD, focusing on the national "double carbon" strategic goal, adheres to the new development concept of "innovation" and "green", leads the transformation of the automotive industry with the driving force of scientific and technological innovation, and promotes the sustainable development of society with green and low-carbon cycle.
Red Star Capital Bureau noted that the new energy business is the core of BYD, and its research and development has launched core technologies such as blade battery, DM-i super hybrid, and e-platform 3.0. Adhering to the pure electric and plug-in hybrid "two legs, walking in tandem" is BYD's strategy at this stage, of which plug-in hybrid is regarded as a "fuel vehicle subversive", the product price points directly to the same level of fuel vehicles, ultra-low fuel consumption, quiet and smooth, excellent power and other characteristics, widely concerned and recognized by the market. The latest generation of DM-i hybrid system completely abandons the engine of fuel vehicles and develops a special engine.
In November last year, some insiders predicted that BYD would become the world's first car company to truly abandon fuel vehicles.
According to a previous report by Red Star Capital Bureau, BYD has ranked first in China's new energy vehicle sales for 9 consecutive years, and the proportion of new energy vehicle business has continued to increase. In 2021, BYD will sell 740,000 vehicles, of which new energy vehicles will exceed 600,000 units, accounting for more than 80%. In February, BYD sold a total of 91,078 vehicles, of which 88,283 were new energy vehicles, accounting for 97%.
The DM-i plug-in hybrid system has become the engine for BYD's soaring sales in 2021. From January to February 2022, BYD sold 91,000 hybrid models, accounting for 50.1% of new energy vehicle sales, more than half for the first time.
At the same time, BYD's fuel vehicle business has little presence. In 2021, the share of fuel vehicles in BYD's total sales fell sharply, from less than 50% in the first quarter, to 30% in the second quarter, less than 10% in the third quarter, and only 7.4% in the fourth quarter. In January-February 2022, BYD sold only 5,049 fuel vehicles, while new energy vehicles sold 181,000.
The electrification of automobiles is a megatrend. According to the data of the Association of Passenger Vehicles, the retail sales of new energy passenger cars in the mainland will reach 2.989 million units in 2021, an increase of 169% year-on-year. In 2020, the market penetration rate of new energy passenger cars in mainland China was 5.8%, and in December 2021, this figure has reached 22.6%. In 2021, the market share of Chinese brand cars exceeded 44%, close to the best level in history.
BYD stopped the production of fuel vehicles in March, and Red Star Capital Bureau noted that the production and sales volume of BYD fuel vehicles just announced showed that the production and sales data of BYD fuel vehicles was 0.
In March, BYD's new energy vehicle production was 106658 units, an increase of 416.96% year-on-year; sales were 104878 units, an increase of 422.97% year-on-year, a record high, and once again set a new record for China's new energy vehicle monthly sales.
Among them, 54684 pure electric passenger cars were produced, an increase of 266.20% year-on-year, and sales volume was 53664 units, an increase of 271.05% year-on-year; plug-in hybrid models were produced 51434 units, an increase of 853.37% year-on-year, and sales volume was 50674 units, an increase of 857.40% year-on-year.
BYD's total installed capacity of new energy vehicle power batteries and energy storage batteries in March 2022 was about 5.353GWh, and the cumulative installed capacity in 2022 was about 14.738GWh.
Netizens are talking hotly
▼