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Original article: Will BYD sell 1.5 million NEVs in 2022? By Lei Xing

2022 will be an important year for the spread of EVs in China

2022 is likely to be another hit year for China's New Energy Vehicle (NEV) market.

According to the latest data released by the China Automobile Manufacturers Association (CAAM) on February 18, 431,000 NEVs were sold in January, an increase of 135.8% compared to the same month last year. NEV accounts for 17% of total automobile sales (7.15% in January 2021), and its market share has increased by about 10%.

This result came out after 3.5 million NEVs were sold in 2021 and surged 2.5 times year-on-year. The China Passenger Car Association (CPCA) also reports monthly new car sales, but the latest industry forecasts are for passenger car sales of 5.5 million units this year. It is a little more bullish than CAAM, which reached 5 million units at the end of last year.

The consensus is NEV or NEPV (new energy passenger car) only, whichever is the minimum of 5 million units. NEPV accounted for the majority of NEV sales in China, with a 97% share in January 2022 and 95% for the full year 2021.

One of the topics that has matured this year is that BYD and Tesla, the top NEV makers in China and the world, have agreed to supply batteries. Both companies are expected to grow significantly again in 2022, following 2021. BYD has more than doubled from just under 600,000 last year to 1.2 million, Tesla has set a goal of at least 50% growth, and last year's total worldwide delivery of 940,000 to 1.5 million.

What made this rivalry even more interesting in the area of ​​sales volume was BYD's 2022 goal posted on social media on February 11th, which says it will have 3 million NEV customers by the end of the year.

BYD has sold over 1.5 million NEVs by the end of 2021. To get 3 million customers this year, we need 1.5 million new, which is in line with Tesla's. BYD's NEV sales include both BEVs and PHEVs, while Tesla only sells BEVs, so it's not a perfect comparison, but in any case the potential for both companies is huge.

EVsmartブログ電気自動車や急速充電器を快適に BYDは2022年に電気自動車150万台を達成できるのか? 人気記事 最近の投稿 カテゴリー

Will BYD sell 1.5 million NEVs in 2022?

First of all, BYD has been doing well over the last few weeks and months and is certainly gaining momentum. A few days after announcing the new slogan "Technology, Green, Future" last month, we also revamped our group and car brand logos. In late January, it was named one of the fastest growing car brands in the world by the Brand Finance Global 500.

In January, sales of 92,926 units were almost the same as 92,823 units in December, and rush demand occurred in the process of subsidy phase-out, and overall sales of more than 500,000 units reached a record high in December. It has become a form that goes against the trends of the industry. To achieve the official target of NEV sales of 1.2 million units, BYD simply needs to sell 100,000 units a month, which is easy considering the seasonality, current momentum, and unprocessed orders of 300,000 units. It seems that it can be achieved. It's only a matter of time before BYD becomes a complete NEV brand with monthly sales of over 100,000 units (NEV's January sales share was 98%).

Second, BYD's products are solid. Yuan Plus, the first A-class SUV based on the e-platform 3.0 that supports the extremely popular Dolphin (EA1) hatchback, launched last week for 131,800 to 159,800 yuan (about 2.4 million to 2.9 million yen). Did. This model will also be launched in the Australian market as ATTO 3 on the same day and will be delivered in July. In addition, BYD's Ocean network will release the Destroyer 05 sedan and the "Warship" series, which are slightly larger than the Qin Plus, in March. In the third quarter, the Landing Ship MPV, which is about the same size as the Buick GL8, will be available in both PHEV and BEV versions, and in the fourth quarter, there will be a B-class sedan and a new plug-in hybrid SUV that are the same size as the Han.

From the Ocean Network's Bio series, three more models are likely to hit the market this year. The Seal is a compact sedan slightly larger than the Model 3, the Seagull A00-class is a small vehicle slightly larger than the Wuling Hongguang MINI EV, and the Seal Lion B class SUV is also slightly larger than the Model Y and has a cruising range of 700km and is equipped with Huawei LiDAR.

There is also the Dynasty network to which Yuan Plus belongs. The network already has the hit EVs Song, Tang, and Han, and in addition to the Song MAX DM-i (PHEV model), which was officially launched in March and recently launched in advance, the refreshed Han DM- i, Tang DM-i and the new Han EV will also be added.

The following are BYD's new NEV models that are currently on the market or will be available from this year to 2023.

series Model Launching
Ocean network
Bio series Seagull Second quarter of 2022
DolphinNow on sale
Seal First quarter of 2022
Sea Lion 3rd quarter of 2022
Warship series Destroyer 05 First quarter of 2022
Destroyer 07 Fourth quarter of 2022
Cruiser 05 First quarter of 2022
Cruiser 07 Fourth quarter of 2022
Landing Ship 05 First quarter of 2023
Landing Ship 07 3rd quarter of 2022
Dynasty network
Qin series Qin Plus EVNow on sale
Qin Plus DM-iNow on sale
Song series Song Plus EVNow on sale
Song Plus DM-iNow on sale
Song MAX DM-i Second quarter of 2022
Yuan series Yuan Pro EVNow on sale
Yuan Plus EV First quarter of 2022
Han series Han EVNow on sale
Han DMNow on sale
Han DM-i Second quarter of 2022
New Han EV Second quarter of 2022
Tang series Tang EVNow on sale
Tang DM-iNow on sale
New Tang EV Second quarter of 2022
Ming series Ming EV 2023
Ming DM-i 2023

BYD in 2022 plans to release more than 10 new or remodeled NEVs in total, many of which use the company's e-Platform 3.0.

Third, BYD's production capacity is already high and will be further increased. So far, there are three factories for vehicle production, and five more are scheduled to start production this year, and the total production of 2 million units will be possible annually.

Below is a list of factories, including the expected annual production at the end of the year and the models to be made.

placeOperation start timemodelMonthly production volume
Shenzhen Operated before 2022 Hang, Tang, e6 30,000
Xian (Phase 1 and 2) Operated before 2022 Qing, Song 50,000-60,000
Changsha Operated before 2022 Dolphin, Yuan Pro, e2 25,000-30,000
Xian (Phase 3) Augustnot clear 20,000
Changzhou January Yuan Plus, Seal, Sea Lion 20,000
Fuzhou (Jiangxi Province) Aprilnot clear 20,000
Hefei Junenot clear 40,000
Jinan Augustnot clear 20,000
Zhengzhou Octobernot clear 20,000

Looking at the number and capacity of new models that BYD will add in 2022, it's a little scary. I wouldn't be surprised to reach 1.5 million, and 1.2 million is already a promised number.

Reference article: BYD social media post: https://mp.weixin.qq.com/s/EZnp4Q9mi-mOpkLXwES3_wBYD hints at sales target of 1.5 million units this year on CNEVPOST

(Translation / Akiko Sugita)