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Briefing Jul 20, 2020 04:33 pm EqualOcean

UCAR to Sell All Its Shareholdings of CAR to BAIC

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Oct 15, 2020 09:30 am ·

BAIC New Energy's September Sales Down 77.57%

Recently, BAIC released the latest sales data of its subsidiary, Beijing New Energy Automobile Co., Ltd. In September, BAIC New Energy sold only 2,245 vehicles, a year-on-year decrease of 77.57% compared to last year's 10,009. The cumulative sales volume from January to September was 21,086, a year-on-year decrease of 78.57%, compared to 98,382 for the same period in 2019.  With sales going down, production began to decline gradually as well. According to data, BAIC New Energy produced only 221 vehicles in September, compared with 3420 vehicles in the same period last year. Cumulative production from January to September was 9,877 vehicles, compared to last year’s 9,877, down 56.59%. Judging from the production and sales data of BAIC Blue Valley this year, it has been declining for 9 consecutive months, and the output has almost stopped in the past two months.  According to data from the China Passenger Car Association, the electric vehicle market showed a strong growth trend in September, with 32,500 A00-class sales, increasing its share to 32%. Among them, SAIC-GM-Wuling sold 24386 vehicles, BYD 19048 cars, and Tesla China 11329 vehicles, ranking the top three in the NEV field. Previously, according to official explanations, factors such as industry competition, limited core high-quality parts resources and the epidemic have had a substantial negative impact on BAIC New Energy's product structure adjustment, customer structure adjustment and marketing. Affected by the epidemic, BAIC New Energy, which has always relied on the B-end market, witnessed huge hurdles. While sales have plummeted, government subsidies have also fallen. The financial report shows that in the first half of this year, the government subsidy included in the current profit and loss was CNY 69.326 million. In contrast, the number of subsidies in the same period last year was as high as CNY 207 million. This caused BASIC's revenue to fall by nearly 70%, while its net profit fell by more than 28 times.

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Oct 12, 2020 05:23 pm · EO Company

SAIC Motor's YoY Sales Decrease by 18.14% in September

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Oct 1, 2020 12:30 pm ·

SAIC Plans to Launch 100 NEVs by 2025

SAIC President Wang Xiaoqiu said at the 2020 World New Energy Vehicle Conference that SAIC will continue to invest in the three technical segments: pure electric, plug-in hybrid and hydrogen fuel cells. He further added that SAIC plans to launch nearly 100 new energy products within the next five years. Wang disclosed that in the above-mentioned new energy product plan for the next five years, there will be nearly 60 independent new energy models, no less than 20 plug-in hybrid products and 10 hydrogen fuel cell products. He believes that the acceptance of new energy vehicles by private users, especially users in cities with known travel restrictions, is rapidly increasing and that the plug-in hybrid is a vital choice to meet users' needs at this stage.  SAIC started focusing on the NEV field around 10 years ago. In 2012, Roewe, a SAIC subsidiary, released its first pure electric car, E50, with its new energy vehicle research and development investment reaching CNY 6 billion. In June of this year, Chairman of SAIC, Chen Hong, pointed out that SAIC and Volkswagen plan to jointly invest CNY 140 billion in the next five years, aiming at the transformation and upgrading of the automotive industry, new energy vehicle track and intelligent networking. At present, SAIC Group's two subsidiaries, Wuling and SAIC (Passenger cars), have ranked among the top ten in monthly sales of new energy vehicles. According to the August sales data released by the China Passenger Car Association, Wuling ranked first in the sales ranking of new energy automobile companies with 18,312 units sold, an increase of 110.53% over the same period last year. As for SAIC (passenger cars), it sold a total of 3346 units, ranking ninth. "

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Sep 30, 2020 09:30 am ·

Volkswagen to Invest EUR 15 Bn in China Over the Next 4 Years

Volkswagens plans to invest approximately EUR 15 billion in electric vehicles with its joint ventures SAIC-Volkswagen, FAW-Volkswagen and JAC-Volkswagen between 2020 and 2024. Before this, Volkswagen had announced an investment of EUR 33 billion in global electric mobility for the same years. Volkswagen Group (China) CEO Feng Sihan said that, according to the plan, Volkswagen will achieve large-scale electrification in the Chinese car market. By 2025 it will have localized 15 new energy models, and the proportion of electric vehicles in the company's product mix will increase by 35%. The MEB modular electric vehicle manufacturing platform is considered one of Volkswagen's most direct means of realizing the above vision. This platform is also the basis for developing and manufacturing the new generation of pure electric products in its family. Volkswagen's MEB plants in Anting and Foshan have a total annual production capacity of 600,000 electric vehicles. The pre-production models are currently off the line and will be fully put into production in October this year. At the Beijing Auto Show, Volkswagen's SUV, the ID.4 (vehicle from the company's new NEV series), has had its world premiere. At the beginning of next year, electric models produced by FAW-Volkswagen Foshan Plant and SAIC-Volkswagen Anting Plant will be delivered to Chinese customers. Simultaneously, Volkswagen is actively developing partnerships with local battery suppliers in China to speed up the process of meeting future market demand for battery capacity. More than that, Volkswagen is also investing on a large scale in the construction of charging infrastructure and has established a joint venture with Star Charge, FAW and JAC. Through this joint venture, Volkswagen will be able to provide customers with private dedicated charging piles and, at the same time, lay out a network of public DC charging stations with a strong competitive advantage. 

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Sep 25, 2020 09:30 am ·

SAIC Volkswagen to Build MEB NEV Plant

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Sep 15, 2020 09:55 am ·

SAIC Motor to Introduce Ten FCV Models by 2025

Chinese car manufacturing giant SAIC Motor aims to roll out at least ten fuel cell vehicle models over the next five years and to hit over 10,000 units in both annual FCV outputs and sales, representing a more than 10% share in China's FCV market, according to its new 'Hydrogen Strategy' announced this September.  According to Chinese media channel Gasgoo, under the newly-unveiled strategy, the company also expects the market value of Shanghai Hydrogen Propulsion Technology Co., Ltd. (SHPT), a fuel cell technology developer mainly owned by SAIC Motor, to grow to over CNY 10 billion, and is striving to form a fuel cell R&D and operation team with over 1,000 staff members by the same deadline. SAIC said that by 2025, SAIC's self-developed fuel cell system will achieve cumulative sales of more than 30,000 sets, making it a leader in domestic, independent fuel cell systems. By 2030, SAIC will become a fuel cell vehicle manufacturer with completely independent intellectual property rights and global competitiveness. Hydrogen fuel cells are becoming a favorite in the new energy field, and many auto companies are looking to seize the opportunity. Hydrogen fuel cell research and development is another segment that is getting a lot of attention. In mid-July, Great Wall Motors officially released its new brand dedicated to the segment. The vehicles produced by the brand will match the second-generation hydrogen fuel cell power system, with a driving range of up to 1,100 kilometers. Besides, GAC, Hongqi, Changan and other automakers have begun to deploy hydrogen fuel cell vehicles. However, the segment faces two significant problems: inadequate infrastructure and high costs. According to SAIC, it is currently strengthening cooperation with upstream and downstream partners in the industrial chain of parts, hydrogen production, hydrogen transportation, hydrogen storage, hydrogenation, etc.  Subscribe to the China NEV Intelligence Newsletter for daily updates.

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Sep 2, 2020 05:10 pm · EO Company

SAIC Group Obtains CNY 50 Bn Credit from Export-Import Bank

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Oct 16, 2020 09:30 am ·

Chinese-made Tesla Model Y Price Expected to Drop

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Oct 14, 2020 01:02 pm ·

Tesla China Reduces Model S Price

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Oct 13, 2020 09:30 am ·

CICC Raises BYD's H-share Target Price by 60%

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