In November 2021, ASD, the only Chinese car company, signed a pledge with five car companies, Volvo, Ford, GM, Mercedes-Benz and Jaguar Land Rover, to stop the production of fossil fuel vehicles worldwide by 2040.
Just four months later, in March, BYD achieved this goal, which can be described as a lightning bolt.
In fact, in the past March, BYD's sales reached 104,300 vehicles, which is enough to make people excited, this is its first monthly sales exceeded the 100,000 mark, ranking first in the domestic passenger car camp, comparable to Tesla's global sales, and also another outbreak after winning the global new energy vehicle championship in January this year. However, this achievement is expected by us, ANDD, which has 500,000 orders, its sales volume actually depends on production capacity.
On the evening of April 3, BYD officially announced: "According to the company's strategic development needs, BYD Automobile will stop the production of fuel vehicles from March 2022." In the future, in the automotive segment, BYD Automobile will focus on pure electric and plug-in hybrid vehicles. ”
This also means that BYD has become the world's first car company to stop production of fuel vehicles. Of course, BYD also continues to provide parts and other after-sales services for the original fuel vehicles.
On the working day after the Qingming holiday, the automobile sector generally fell, but BYD's stock price continued to rise, proving the capital market's optimistic decision to stop production of fuel vehicles.
An automotive industry news, once released, quickly appeared on a variety of "hot search" and "hot list", and its influence is still fermenting. After the Qingming holiday, the automobile sector generally fell sharply, and BYD (002594. SZ' shares bucked the trend and surged 2.52 percent on April 6.
From the acquisition of Qinchuan Automobile on January 22, 2003, to the farewell of traditional fuel vehicles on April 3, 2022, ALL IN new energy vehicle track, BYD has successfully achieved transformation in 19 years and become the undisputed leader of new energy vehicles in China.
1
"Super Hybrid" has subverted the fuel vehicle and successfully achieved transformation
China's new energy vehicles are mainly pure electric vehicles (BEV) and plug-in hybrid (PHEV), and the proportion of FCV is negligible.
BYD's transition to new energy vehicles has been quite rapid. In 2020, BYD's new energy vehicle sales were 189689, down 17.35% year-on-year, and fuel vehicle sales were 237283, up 2.32% year-on-year.
On March 8, 2021, BYD's first DM-i model, Qin PLUS DM-i, was officially launched, and the situation development reversed, and the car truly subverted the fuel car.
Known as "super hybrid" DM-i is essentially a PHEV, which is about 20,000-30,000 yuan more expensive than the same level of fuel vehicles, but has the driving sense of the tram, and there is no mileage anxiety, and it can also be exempted from purchase tax and green cards.
Consumers naturally vote with their feet, even if they wait for months. In March this year, DM-i sales have exceeded 50,000 vehicles, which is still only achieved in the case of Tang, Song and Qin, and with the increase of models, its sales will rise.
DM-i also broke out with the sales of BYD pure electric EV, in March, BYD pure electric EV sales of nearly 54,000 vehicles, more than the head of the new car-making forces Xiaopeng, Weilai, Zero Run, Nea combined.
So far, BYD has truly formed a pattern of DM-i and EV "two legs, walking in tandem", and the average bicycle price in 2021 will exceed 150,000 yuan, surpassing the well-known Volkswagen brand.
At the same time, BYD's fuel vehicle business has shrunk rapidly, accounting for less than 20% of the total in 2021; in the first quarter of this year, BYD's cumulative sales of fuel vehicles were 5,049 units, accounting for only 1.7% of total sales. In March 2022, the sales volume of fuel vehicles was zero, down 89.78% year-on-year, and SOD has fully realized the new energy vehicle.
Cui Dongshu, secretary general of the Association, believes that BYD has formed a competitive alternative to fuel vehicles through the breakthrough of hybrid technology (DM-i).
2
Why BYD? Nearly 20 years of unremitting efforts
The suspension of fuel vehicles is the long-cherished wish of many auto giants, such as Volvo, Jaguar, Volkswagen, Audi, Ford, Honda and so on.
Because in the capital market, fuel vehicles are only about 10 times the price-earnings ratio, but new energy vehicles reach 100 times, Tesla only does pure electricity, the market value exceeds 1 trillion US dollars, which is the sum of the 2nd-9th automobile companies behind.
Everyone understands the reason, but the timetable for the above-mentioned traditional auto giants to completely transform new energy is between 2025 and 2030, because the proportion of existing fuel vehicles is too large to turn.
People often say that the times create heroes, on the track of new energy vehicles, why did BYD achieve heroism?
Wang Chuanfu, chairman and president of BYD, has a very clear understanding, he said at this year's "China Electric Vehicle 100 People's Meeting": "We rely on subversive technologies such as blade batteries, DM-i super hybrid, e-platform 3.0, etc., adhere to the pure electric and plug-in hybrid two-legged walk, ushering in the outbreak of technology, products and markets." ”
In this era of "inner volume", there is absolutely no greatness that can be achieved overnight, and some are unremittingly moving forward, and BYD has worked intensively in the field of new energy vehicles for nearly 20 years to have today's situation.
Up to now, BYD has applied for 35,000 patents and authorized 20,000 patents, ranking first in the list of new energy vehicle patents, and has two sets of pure electric and DM-i super hybrid products .100p.
At the beginning of its entry into the automotive industry, BYD had the dream of building electric vehicles. As early as 2004, the pure electric concept car ET appeared at the Beijing Auto Show, which was the first new energy concept car of a Chinese automobile brand.
In June 2006, BYD released the world's first iron battery pure electric sedan F3e, adding an electrified track with a cruising range of 350km.
By 2008, BYD's first plug-in hybrid model F3DM (the predecessor of DM-i technology), when the conditions for the development of electric vehicles were not yet mature, even Shenzhen was difficult to find supporting charging facilities, how can consumers pay?
Until 2014, BYD's new energy vehicles ushered in the opportunity of 542 (5 represents zero hundred acceleration within 5 seconds, 4 represents full-time electric four-wheel drive, 2 represents 100 kilometers of fuel consumption within 2 liters), in one fell swoop set a power benchmark, in the 542 strategy born qin DM, Tang DM and other models once became the hottest topic models on the Internet, in the market has also achieved good sales results.
However, the "542" strategy did not solve the problem of "a worm of power", BYD was not discouraged, and finally released a new DM-i technology in 2021, which is BYD's fourth-generation plug-in hybrid technology, with the highest thermal efficiency of up to 43.04% of the 1.5L hybrid special engine and a more efficient EHS electric hybrid system, in one fell swoop to solve the problem of fuel consumption in the state of power. The new car equipped with DM-i technology still achieves a fuel consumption of about 4L/100km in the state of rapid electricity, and the market has ushered in a big explosion.
3
Both energy saving and emission reduction can "change lanes and overtake", BYD and Tesla compete for the global new energy vehicle championship
70% of the mainland's oil is imported, 70% of the imported oil passes through the Strait of Malacca, and 70% of the oil is used in the automotive industry.
When BYD stopped production of fuel vehicles, it was in the midst of the Russian-Ukrainian conflict, the price of No. 95 oil exceeded 9 yuan / liter, and people were eager to get rid of their dependence on fossil energy.
Wang Chuanfu believes that the mainland is more urgent to reduce its dependence on oil than any other country, and the replacement of fuel vehicles by new energy vehicles will only be fast, not slow. We have all gone through the process of electrification of public transport, and the more we end up, the faster the speed of change is beyond imagination, and the same is true for private cars.
In the whole of 2021, the penetration rate of new energy vehicles in mainland China will reach 14.8%, which is significantly higher than the penetration rate of 5.8% in 2020. Wang Chuanfu expects that with the development speed of 2021, the penetration rate of new energy vehicles is expected to reach 35% in 2022.
The development of new energy vehicles is also an important means to achieve the "double carbon" goal, the mainland transportation field carbon dioxide emissions accounted for 9% to 10% of the country's greenhouse gas emissions, of which the automotive industry accounted for the highest proportion, 70% to 80%.
From the perspective of the industry itself, China is known as the "world's factory", and among all the manufacturing clusters, the supply chain, manufacturing model and industrial depth of the automobile industry are the largest.
China has high hopes for new energy vehicles and has invested huge human and financial resources in the hope of achieving "lane change overtaking".
The essence of "lane change overtaking" is to develop the automotive industry cluster, from batteries, semiconductors, vehicle manufacturing, to achieve localization of R & D, design and manufacturing, which is very similar to Germany's control of the supply chain in the traditional fuel vehicle period.
BYD adopts the "vertical integration" model, which undoubtedly responds to national requirements, masters the core technology of the whole industry chain of new energy vehicles such as batteries, IGBT, motors, and electronic controls, and is the only car company in the world with the core technology of "three electricity".
Driven by new energy vehicles, China has actually partially achieved "lane change overtaking".
According to the statistics of the China Federation of Passenger Vehicles, from January to February this year, the sales of new energy passenger cars in the narrow sense of the mainland were 734,000 units, accounting for 65% of the world, surpassing the 230,000 units in Europe and 140,000 units in North America. Cui Dongshu, Secretary-General of the Association, said: "The shift of new energy vehicles to market-driven and the formation of a strong endogenous growth momentum are the main reasons for China's growth of the global new energy vehicle market. ”
In the era of fuel vehicles, developed countries such as Europe, the United States, Japan and South Korea have almost controlled the core technology related to fuel vehicles, but in the era of new energy, China and the United States have become the commanding heights of global innovation.
Globally, the real kings of new energy vehicles are two - China's BYD and The United States' Tesla. In the first quarter of this year, BYD's cumulative sales of new energy vehicles were 287,500 units, an increase of 416.96% year-on-year. Tesla delivered 310,000 vehicles in the first quarter, but BYD has grown far faster than Tesla and is pitting a market in China against Tesla's global market.
According to CEO Musk's forecast, Tesla's annual sales target this year is 1.4-1.5 million; BYD's target is also 1.5 million.
It is foreseeable that the battle between BYD and Tesla is particularly exciting, and whether BYD can catch up and become the world's highest-selling new energy company has become the focus of the industry's attention.
Text | DA Bin
(This article is the author's personal opinion only and does not represent the position of DearAuto.) )
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Mr. Li Guoyong of Guangdong Green Law Firm