If BYD can finally defeat auto giants such as Volkswagen, Toyota and Honda in the global market, it will definitely be worthy of the title of "China's next greatest enterprise" after Huawei.
Ordinary | author
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In the past two years, BYD has been the most developing automobile company in China.
According to its recent 2021 financial report, BYD's new car sales in 2021 reached 730,000 units, an increase of 75.4% year-on-year. Among them, the sales volume of new energy vehicles was 593,700 units, an increase of 231.6% year-on-year, and the sales volume accounted for more than 80%, which is The leading new energy vehicle sales champion in China.
Corresponding to its excellent sales performance, BYD also leads the way in the capital market. As of the latest trading day, its market value reached 700 billion yuan, more than sachinchinar, Great Wall Motor and Geely Automobile combined.
After entering 2022, BYD has shown stronger potential energy.
In January, BYD not only ranked first in the sales volume of China's new energy vehicle companies, but also surpassed another new energy vehicle giant, Tesla, to become the global new energy sales champion.
In February, BYD not only overpowered the traditional top three of Geely, Changan and Great Wall, but also surpassed the fuel car giant SAIC Volkswagen's 90,604 units in the Chinese market for the first time in sales of 91,078 units. In addition to the surpassing of sales, it is reported that BYD's current average bicycle price of 150,000 yuan also exceeds SAIC Volkswagen's 140,000 yuan.
SAIC Volkswagen has always been a benchmark for Chinese joint venture car companies, and it has long occupied the sales champion of Chinese car companies. This time, BYD surpassed Shanghai Volkswagen in terms of sales volume and bicycle price, which has a special significance, which means that China's independent car brands have the strength to challenge the global multinational auto giants.
In March, BYD's sales of new energy vehicles reached a new high of 104,900 units, exceeding 100,000 units for the first time. Among them, DM hybrid models sold 50,700 units, an increase of 615.2% year-on-year, and EV pure electric models sold 53,700 units, an increase of 229.2% year-on-year.
According to the sales data released by several new car-making manufacturers recently, Xiaopeng Automobile, Nezha Automobile, Ideal Automobile, Zero-run Automobile and NIO Automobile each had sales data of 15,416 vehicles, 12,028 vehicles, 11,075 vehicles, 10,010 vehicles and 9,987 vehicles in March, ranking 1-5 respectively. From the above data, it can be seen that the sales of BYD alone exceed the sales volume of all new car-making forces.
It is also worth noting that BYD's production and sales of fuel vehicles in March are 0, which also means that all its current sales are new energy vehicles. At the same time as announcing the March production and sales report, BYD also announced that it will stop the production and sales of fuel vehicles from March this year, and will only focus on pure electric and plug-in hybrid vehicles in the future.
This news has also caused BYD to attract a lot of public attention. Although electrification is the general trend of the automobile industry, many car companies have planned a timetable for discontinuing fuel vehicles, but most of them are set between 2025 and 2030. Among all the companies that have previously produced and sold fuel vehicles, BYD is currently the only one that has completely switched to new energy models.
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At present, BYD is already the most successful automobile company in China, but just two years ago, BYD was far from showing signs of achieving today's results.
In 2019, BYD's total model sales at that time were only 461,400 vehicles, far less than SAIC Volkswagen's 2 million sales in the same year, and far from the million-level sales of Geely Automobile, Changan Automobile and Great Wall Motors that year, and more than half of the sales were still fuel vehicles.
In just two years, BYD has achieved a surprising leap in sales, and has realized all the replacement of new energy products with traditional fuel vehicle products in products, the most fundamental reason is its technical success. 2020 and 2021 are bydir's technology years, and it has successively released blade batteries, DM-i super hybrid technology, DM-p super hybrid technology and e-platform 3.0 architecture.
Among them, the blade battery is the first wave of technology set off by BYD. It breaks the module concept of the traditional battery system, using the unique aspect ratio characteristics of the blade battery, realizes the close arrangement of the ultra-long size battery, and obtains a higher volume utilization rate, which makes the pure electric vehicle equipped with lithium iron phosphate battery the mileage can reach more than 600km, close to the level of traditional fuel vehicles. At the same time, it is also the only power battery in the world that can pass the acupuncture experiment, which solves the safety pain points of new energy vehicles very well.
Since July 2020, blade batteries have been gradually applied to BYD's Han, E2, Song Plus, Qin Plus, D1 and Dolphin and other pure electric vehicle models, and will continue to improve and continue to expand the application of new models in the future.
DM-i technology and DM-p technology are bydir's two branches under the hybrid (DM) technology platform.
Among them, DM-i technology focuses on fuel saving and energy saving, which adopts an electric hybrid architecture based on high-power motor drive, large-capacity power battery energy supply, and engine as a supplement, subverting the oil-based design architecture of traditional hybrid technologies such as Toyota and Honda. For example, it uses the ultra-high efficiency EHS electromissing system, the world's first DM-i super hybrid special power type, AC and DC charger and other core components, and is equipped with a 1.5L engine with an efficiency of 43.03% and the highest thermal efficiency, which can achieve ultra-low fuel consumption, quiet and smooth and excellent power of the whole vehicle performance.
At present, DM-i technology has been successively installed in BYD Qin Plus DM-i, Song Plus DM-i and Tang DM-i and other models, and will be widely used in BYD's newly launched DM hybrid models in the future. Since BYD can achieve a DM-i super hybrid model with a price similar to that of competitors in the same class of fuel vehicles, this makes it the best alternative to traditional fuel vehicles.
DM-p technology is the main power and acceleration performance, which adds high voltage, high power, strong power retention ability of the P0 motor, with intelligent power generation, intelligent start and stop, rapid acceleration assist and auxiliary shift four major functions, can help the vehicle in the power, economy, smoothness and tranquility to achieve a qualitative leap.
For example, in terms of power, the model using DM-p technology accelerates as fast as 4.3s from 0-100km/h, comparable to the V8 engine; economically, when the user commutes to work, he can EV pure electric travel 0 fuel consumption; in terms of smoothness, EV travel smoothness is excellent, HEV hybrid mode, and then start, shift without setbacks, to create a very quiet interior space for users. The super performance brought by DM-p technology, just like GTI to Golf, AMG to Mercedes-Benz, M to BMW, will greatly enhance its product competitiveness in the high-end market for performance enthusiasts, and thus enhance BYD's brand power.
The e-platform 3.0 architecture is BYD's newly developed electric vehicle platform foot bone, which adopts a new generation of SIC electronic control, eight-in-one motor assembly, heat pump technology and motor boost charging architecture and other cutting-edge technologies, these technologies allow models based on the platform to achieve safety, efficiency, intelligence and aesthetics.
For example, the NEDC endurance of the model using the e-platform 3.0 architecture can exceed 1000km, the acceleration time of 0-100km/h reaches 2.9 seconds, and the charging time can be 150km in 5 minutes, which solves some user pain points of pure electric vehicles. At present, the first models of the e-platform 3.0, Dolphin and Yuan Plus, have been listed first in 2021, and a series of models will be listed in the future.
The help of the above core technologies has brought about a major breakthrough for BYD in various product series. For example, BYD's current flagship Dynasty series products were all red in March.
Among them, the Qin family, which is positioned as a compact sedan, sold 24,797 units, and its sales were mainly Qin Plus DMi with DMi technology and Qin Plus EV with blade battery technology.
The Song family, which positions compact SUVs, sold 26,729 units, and its main models, the Song Plus DMi, Song Pro DMi and Song Max DMi, all used DMi technology, and the Song Plus EV used blade battery technology. At present, Song Pro DMi and Song Max DMi are still in the process of sales climbing, and sales are expected to continue to grow in the future.
The Han family, which is positioned as a medium- and large-sized flagship sedan, sold 12,359 units, of which the Han EV, a pure electric model with blade batteries, sold 10,178 units, an increase of 27.93% year-on-year; and the Han DM sales volume was 2,181 units.
Just recently, BYD officially released four new Han family products. Among them, it not only includes the updated version of the pure electric model Han EV Genesis Edition and hanEV Qianshancui limited edition, but also the new listing of Han DM-i and Han DM-p, which are of great concern to the outside world. These four models will further enhance BYD's competitiveness in the field of medium and large flagship cars.
The Tang family, which is positioned as a medium-sized flagship SUV, has sold 9625 units, and its sales force is the Tang DMi model using DMi technology, and the Tang EV, which has not yet been listed as a pure electric model, has affected the overall sales performance of the Tang family to a certain extent.
However, the All-Electric Tang EV, which is equipped with blade batteries, will be available soon, offering single-motor two-wheel drive and dual-motor four-wheel drive versions. The single motor version is divided into 600km and 730km endurance versions; the four-wheel drive high-performance version is equipped with dual motors in front and rear, with a maximum power of 380kW, an acceleration time of 0-100km/h in only 4.4 seconds, and a cruising range of 635km. In addition to excellent performance and endurance, the Tang EV is 4900/1950/1725mm in length, width and height, and wheelbase is 2820mm, which continues the family design of dragon Face, and it is expected that this model will also greatly enhance BYD's sales performance in the mid-size pure electric SUV market.
The Yuan family, which specializes in small SUVs, sold 12,881 units. Shortly after its new listing, the Yuan Plus equipped with the pure electric e platform 3.0 performed eye-catchingly, with sales of up to 9987 units.
In addition to the Dynasty series, BYD has also launched a new Ocean series to replace the previous e-series products. The Ocean Series is subdivided into two sub-series of Marine Life and Marine Warships. Among them, the marine life series is named after the names of marine creatures such as dolphins, seagulls and sea lions, focusing on pure electric models; marine warships are named after warships such as destroyers, frigates, cruisers and landing ships, and the main DM-i super hybrid models.
In the Marine Life series, BYD launched its first pure electric model Dolphin at the beginning of this year, and its first launch performed well, achieving sales of 8,565 units in February and March, respectively. From the perspective of market positioning, BYD Dolphin is mainly aimed at young female users, which is close to the target users of the Euler brand under Great Wall Motors. However, BYD has shown far better product strength than the Euler brand, and it has defeated the entire Euler brand of Great Wall Motors with only the Dolphin model.
In the marine warship series, BYD launched its first sedan model" "Destroyer 05" on March 17, which uses DM-i super hybrid technology to achieve a cruising range of more than 1,000km when fully oiled and fully charged. Although it is an A+ class sedan, the destroyer 05 body size is 4780mm× 1837mm×1495mm, and the wheelbase is 2718mm, which brings users a large space to cross the class. In addition, it adopts a new marine aesthetic design, which has an outstanding appearance, and the price range is 119,800-155,800 yuan.
In 2022, BYD will rely on advanced core technologies such as blade batteries, DM-i, DM-p and e 3.0, and a number of blockbuster new cars will be launched one after another.
For example, in the Marine Life series, three pure electric models will be launched successively, namely "Seal", "Seagull" and "Sea Lion", all of which are equipped with the e-platform 3.0 architecture.
Among them, the "Seal" is a medium-sized pure electric sedan, which has entered the 354th batch of "New Car Announcement" of the Ministry of Industry and Information Technology, and is expected to be officially delivered at the end of the 2nd quarter or the beginning of the 3rd quarter, which is not only 400 .8m long, the wheelbase is 2.92m, the size and space parameters are better than the Model 3 (the length is 4.694m, the wheelbase is 2.875m), and the appearance design is also quite amazing.
In terms of power, according to the previous declaration information, BYD Seal will provide 150kW single motor, 230kW single motor, dual motor four-wheel drive three combinations, of which the four-wheel drive version can achieve 3.8 seconds of 0-100 km acceleration. And according to BYD's previous pricing strategy, we expect its price to be very competitive, and it is likely to become another explosive model of BYD.
In the Marine Warship Series, after the Destroyer 05, BYD will launch the second model of the series, the Frigate 07. Frigate 07 positions a medium SUV equipped with DM-i super hybrid technology. Frigate 07 body length of 4820mm, wheelbase up to 2820mm, the appearance is quite atmospheric and calm, more in line with the aesthetic requirements of mainstream consumers, as BYD in addition to the Tang family outside another medium-sized flagship SUV, its listing will work with the Tang family to jointly promote BYD's breakthrough in the high-end market.
In addition, as BYD gradually increases its equity ratio in the Denza brand, it will also increase its efforts to build Denza into a high-end brand, it is reported that the Denza brand will be positioned in the range of 300,000-500,000 yuan, and in 2022 to 2023, it will successively launch 3 new models of pure electric multi-purpose vehicles, including MPV and SUVs.
The above models are all products of BYD that have set core technologies in recent years, and are highly competitive in various market segments in which it is located, which is expected to further promote the substantial growth of BYD's sales in 2022.
In addition to the two known brands of BYD and Denza, BYD has another highly anticipated event in 2022, that is, it will launch a new planned high-end car brand in October 2022, positioned in the price range of 500,000-1 million yuan, it is reported that the first model is a hardcore off-road vehicle.
Great Wall Motors in the previous launch of the main hardcore off-road vehicle products of the tank brand, has verified the huge potential of this market, with the launch of BYD's high-end brand, it is likely to stage a similar "dolphin eat the entire Euler brand" drama again, through the latecomer advantage to defeat the Great Wall Motor's tank brand.
Blade battery, DM-i super hybrid technology, DM-p super hybrid technology and e-platform 3.0 architecture have shined in the past two years, but they are only the tip of the iceberg accumulated by BYD technology. Wang Chuanfu once confidently said that BYD has a technical "fish pond", which has a variety of technologies, chips, electric vehicles, rail transit, etc. are the "big fish" in the "fish pond", when the market needs, we will fish out at any time.
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In addition to the product leadership brought by core technology, the supply chain is another advantage of BYD over competitors. At present, many brands are subject to the delay in delivery caused by the increase in raw material prices and the shortage of batteries and chips, which not only directly affects sales, but also greatly affects the user experience and brand satisfaction of consumers.
In this industry context, although sales are hot, BYD is still the best delivery capacity of the entire new energy vehicle manufacturers, which is mainly due to BYD's difference that most of the core components of car companies are purchased, and it has spent nearly 20 years to carry out independent research and development, build a vertically integrated supply chain model, not only to achieve the independent production of core technologies such as internal combustion engines, transmissions, motors, power batteries, and electronic controls, but also to achieve "chip autonomy".
However, because BYD's products are too hot to sell, although it has the strongest delivery capacity in the global new energy automobile industry, it is currently in a state of full production and full sales. According to BYD's investor meeting minutes after the release of the 2021 financial report, BYD's cumulative undelivered orders have reached 500,000 units, and it is still increasing month by month.
Products are in short supply, which is a happy annoyance for BYD. As products and sales have entered the positive cycle track, they can be more vigorously deployed in the upstream supply chain field. Last year, BYD has successively registered four battery companies such as Anhui Wuwei, Jiangsu Yancheng, Shandong Jinan and Zhejiang Shaoxing to accelerate the expansion of power battery production capacity; the company has also used bye Bydy's existing factory in Taiyuan to renovate equipment, build an assembly line and supporting facilities for EHS, the core components of the hybrid system with an annual output of 500,000 sets, and increase the production capacity of dm-i hybrid system; the hefei new energy vehicle high-end core components project has also been completed on August 3, 2021. After completion, it will have the production capacity of 400,000 core supporting components of new energy vehicles.
According to the agency's forecast, by the end of 2022, BYD's actual available capacity will reach 1.9 million vehicles, and with the release of THIS part of BYD's production capacity, it will form a greater leading edge in the supply chain field to support its further sales volume.
In addition, the deep accumulation in the upstream supply chain areas such as batteries, semiconductors and motors also has great potential for BYD as an independent parts business. Wang Chuanfu also supports the opening up of the sub-business to the outside world, and he said on many occasions that the subsidiary only earns BYD's money and is not called the skill, and the money that is dismantled to earn the market is called the skill, which means that the product is competitive. Therefore, BYD will gradually split the parts business in the future, so that the motors, batteries and powertrain businesses will compete with their peers in the form of business units.
At present, BYD's power battery business has been opened to the outside world. Among them, the blade battery and DM-i system have been sought after by major automakers, and there are already brands such as "Hongqi", Weilai and Xiaomi that have been publicly cooperating. E-platform 3.0 has also cooperated with Mercedes-Benz, Toyota and Didi and other companies.
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The last company in China to be recognized as the greatest was Huawei.
The important reason why Huawei won this honor is that Huawei mobile phones have achieved a huge breakthrough in products by virtue of their self-developed HiSilicon chips and imaging technology, and have defeated all overseas competitors in the Chinese market, becoming one of the most successful smartphone companies in the world. But unfortunately, due to the sanctions of the United States and other allies, TSMC stopped producing HiSilicon chips, which made Huawei put a sharp brake on the smartphone business.
Byd and Huawei are very similar, in the same Shenzhen, the founders of the two founders Wang Chuanfu and Ren Zhengfei are the best representatives of "entrepreneurship", are through breakthroughs in core technology to achieve product leadership, and then break the long-term monopoly of overseas giants in the Chinese market competition situation. Moreover, byd's victory over overseas auto brands such as Volkswagen, Toyota, Honda, GM and Ford in the domestic market is greater than the difficulty of Huawei's victory over overseas mobile phone brands such as Apple and Samsung.
In terms of benchmarking the world's top 10 manufacturers, Toyota is currently far ahead with sales of 7.35 million, Volkswagen and Honda are in the first camp with sales of 4 million+, and Hyundai, Nissan, Ford, Kia, and Chevrolet are in the second camp with sales of 2 million+. BMW and Mercedes-Benz, as luxury car brands, are far ahead in the luxury car brand camp with sales of about 2 million yuan respectively.
At present, from the perspective of absolute sales, BYD has not yet entered the first camp of the global auto market, but it is currently one of the fastest growing auto companies in the world, and it is still rapidly evolving in technology and products, which makes the relevant data agencies continue to raise their sales expectations, it is reported that BYD's sales target for 2022 is conservatively expected to be 1.5 million vehicles, if the supply chain is good, it is possible to impact 2 million sales, and the probability will exceed Tesla to become the champion of global new energy vehicle sales. Then, in the next 5 years to achieve 5 million sales, 10 years to achieve 10 million sales targets, BYD is not without hope.
BYD has occupied a huge time and place in the automotive industry. At present, with the rapid development of the new energy automobile industry, the inevitable decline of the traditional fuel vehicle industry is "Tianshi"; China has the world's largest automobile market with sales of up to 20 million units, and the world's highest penetration rate of new energy vehicles is "geographical advantage". As the world's leading new energy automobile enterprise born in China, BYD is undoubtedly the biggest beneficiary of dividends.
If BYD can finally defeat auto giants such as Volkswagen, Toyota and Honda in the global market, it will definitely be able to afford the title of China's next greatest company after Huawei.
Ping Fan, founder of Toshishi, once served as the head of strategy and operation management of listed companies, and currently provides management consulting services in the fields of business model, strategy, brand, organization, human resources and corporate culture for many Fortune 500 companies. WeChat: lishipingfan (welcome to communicate with industry insiders, add friends please note the name + company).
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