[car home Information] A few days ago, Dong Yuhui of New Oriental "unexpectedly" became popular, and he himself summed up the popularity as: "Luck will always favor those who are always ready." He thanked himself for reading a lot of books in college to reserve enough knowledge, which he could share in the live broadcast and gain everyone’s recognition. BYD seems to be highly consistent with Dong Yuhui’s popularity. The change from "ugly duckling" to "golden phoenix" is really a textbook-style existence in the automobile circle. BYD’s success is not entirely due to luck, but behind it is BYD people’s far-sighted strategic vision and hard work.
● Looking back in 2023
In 2021, BYD’s annual sales volume was only 730,000 units, while in 2022 and 2023, BYD’s sales volume increased by leaps and bounds, reaching 1.86 million units and 3.02 million units respectively. What is the concept of 3.02 million units? According to the data of the Association, in 2023, the wholesale sales volume of new energy passenger cars in China was 8.88 million units, which means that BYD’s new energy vehicle sales accounted for 34% of the national new energy vehicle sales, more than 1/3. If fuel vehicles are included, BYD’s sales account for 14% of the entire passenger car market, which is about 1/7, according to the annual passenger car sales of 21.62 million units estimated by the Federation.
How fast has BYD made progress? Comparing the "Juan Wang" car companies horizontally, FAW-Volkswagen has always been one of the best car companies in China, and the sales volume of FAW-Volkswagen was basically the same from 2021 to 2023. Tesla has flourished in the field of new energy vehicles in recent three years, and its fist product Model Y has been the first in passenger car sales in the past six months, and Tesla’s progress is also quite obvious. But let’s compare BYD’s progress speed, which is simply a leap-forward change.
Among the top ten models sold in the past six months, BYD has five seats, namely Qin PLUS, Song PLUS, Seagull, Yuan PLUS and Dolphin. From the product price point of view, BYD’s products with a price of less than 300,000 yuan are more popular, including Han and Tang whose price exceeds 200,000 yuan.
"Top five automobile sales in the past six months"
As we said at the beginning, BYD’s popularity is not just luck. Behind BYD’s success today is BYD’s bet on new energy in the past 20 years. When BYD exhibited its first electric car ET at the Beijing Auto Show in 2004, it was ridiculed and laughed at by many people. Today, 20 years later, if any car company does not have a new energy vehicle, it may really be laughed at.
『In 2004BYD exhibited the first electric car ET at Beijing Auto Show.
In addition, the word technology has been engraved in BYD’s bones, which makes BYD go faster in 2023. In 2023, BYD successively introduced new technologies such as Yunqi, Yifangfang (which can turn around in the same place), DMO super hybrid off-road platform, emergency floating ability, etc., which also made BYD have a new breakthrough in high-end brand layout in 2023. Looking forward to U8 and equation Leopard Leopard 5, it will be introduced to the market this year.
"BYD Cloud"
The launch of high-end models stems from the technical strength behind them. Wang Chuanfu once said, "High-end brands should rely on design and technology instead of stacking configuration. This is an opportunity for China brands." Li Yunfei, general manager of BYD’s brand and public relations department, once revealed that "BYD’s R&D expenses are much higher than its net profit. For example, from January to September this year, BYD’s R&D investment was more than 29 billion yuan, while its profit was only more than 21 billion yuan. At present, BYD has 11 research institutes, more than 90,000 technicians and more than 40,000 patents. In 2023, BYD recruited 30,000 fresh graduates as engineers, 60% of whom were masters and doctors, and 700-800 people came from famous schools such as Tsinghua and Peking University. "
In the market above 300,000 yuan, BYD only has Tengshi D9 sales performance. Wang Chuanfu, chairman of BYD, said in the first quarter of 2023 that "the high-end brand market is facing reshuffle, and it is estimated that Tengshi will sell 20,000 units by the end of 2023." There is still a gap at present. Wang Chuanfu also said, "BYD started with a sales target of 3 million vehicles this year and tried to double it to 3.6 million vehicles." Although BYD has achieved its sales target, it is slightly different from the best expectation. It can be seen that Wang Chuanfu is optimistic about the new energy market, especially the high-end market, but BYD still needs time to cultivate its impact on the high-end market. However, looking at the current market of more than 300,000 yuan, China brand has only an ideal performance in sales volume, and the road ahead is still very long.
"BYD Seagull Interior"
In 2023, BYD launched a series of champion models, aiming at continuously improving the product strength and constantly exploring the selling price. The best-selling models Qin PLUS, Song PLUS, Yuan PLUS, Han and Song Pro all have champion models, "99,800 yuan Qin PLUS champion version to make friends!" What’s even more outrageous is that even at this price, there is still a big promotion. For example, Qin PLUS has a limited-time discount of 10,000 yuan on the basis of 99,800 yuan. At the same time, BYD also launched a low-cost electric car Seagull this year, which can achieve a battery life of 405km under CLTC conditions with less than 100,000 yuan. Although the sparrow is small and complete, who can not love such an exquisite car? It sold 50,000 units in December alone.
Behind the price reduction, the net profit of the company has not been affected. In the third quarter of 2023, BYD still achieved a net profit of 10.413 billion yuan, an increase of 82.16% year-on-year. The net profit is still much higher than that of other car companies of China brand. This is due to BYD’s advantages in self-developed technology and spare parts supply. BYD’s self-produced spare parts, including batteries and other core three, can control the cost lower and have its own core technology at the same time.
"BYD Blade Battery"
Different from many car companies, BYD started to lay out the supply chain system as early as 20 years ago, and started to make semiconductors in 2002. Today, Huawei’s supplier cooperation model is popular. In fact, BYD laid out earlier. A self-developed system can make the industrial chain safer and lower in cost. At the same time, BYD adopts the mode of vertically integrating the supply chain. In the period of industry change, BYD and suppliers can work together. This independent supply chain system is not achieved overnight, but accumulated in the past 20 years, and it is difficult for competitors to learn, which has made BYD’s enterprise virtuous circle.
In 2023, BYD also let foreign friends put up their thumbs. Although BYD’s passenger cars only went to sea for about two years, it was different from many China car companies that focused on third world countries. BYD took the lead in entering the European market and Japanese and other developed countries.
BYD booth at Munich Auto Show 2023
The crowds at the BYD booth at the Munich Motor Show in 2023 were impressive, and the Japanese media’s admiration for BYD at the Tokyo Motor Show was equally unforgettable. Compared with the serious involution in China market, the penetration rate of new energy in overseas markets is not high, and there are more opportunities. BYD takes the lead in entering the developed markets. On the one hand, Europe will be more receptive to new energy vehicles. In addition, BYD also has branches in Europe and America, and it knows more about the local area. Li Yunfei said, "BYD should show an international image, a high-tech company and the concept of focusing on the sustainable development of mankind overseas."
Of course, compared with SAIC and Chery, which have been "going out" for many years, BYD has just started to go out to sea in the field of passenger cars, and it still needs to brand and build sales channels.
● Outlook for 2024
Technology-driven has been deeply rooted in BYD. In 2024, BYD will focus on the weak links, and by going up one flight of stairs will focus on the superior projects. In the future, BYD will release core technologies every year, striving to make the product experience better.
At present, BYD’s weakest link is the high-level intelligent driving assistance. When the new car-making forces, even the products of 200,000 yuan, are rolling in high-level intelligent driving, BYD’s high-level intelligent driving assistance systems in cities and high-speed road conditions are not equipped, and they still stay on the basic L2-level automatic driving assistance. In the era when high-level intelligent driving assistance was still in PPT, Wang Chuanfu once said that "unmanned driving is a fool of ordinary people, and it is useless at all."
As the industry began to compete for intelligence, when it was actually in actual combat, Wang Chuanfu began to recruit people in the field of autonomous driving. At present, BYD has the largest intelligent R&D team in the world, and its R&D investment in the intelligent field has accumulated over 100 billion. In fact, advanced intelligent driving assistance can not only enhance the sense of science and technology, but also become a way to increase profits through optional opening.
Tengshi N7 Intelligent Driving Hardware
And all this will happen soon in the future. At the press conference of Tengshi N7 last year, the official has indicated that high-speed NOA will be realized in Q4 of 2023, high-speed obstacle avoidance, large curvature ramp driving, cross-floor parking and other functions will be realized in March of 2024, and NOA driving support in 20 cities is expected to be realized in 2024. Although we haven’t seen Tengshi’s high-speed NOA online yet, it is expected that we will get good news in a few days.
"Tengshi N7 Intelligent Driving Scheme"
Of course, if you want to experience BYD’s high-speed NOA, urban NOA, HPA memory parking, AVP parking service, etc., you must add 10,000 yuan to choose a high-end version of the intelligent driver assistance system, and you will get two laser radars and a 254TOPS computing NVIDIA Orin-X chip. The standard driver assistance system has no lidar and only 10TOPS chips. BYD is trying to catch up with new forces in intelligent driving. As for the result, we can look forward to it together.
In 2024, BYD will also release the fifth-generation DM technology, namely DM 5.0. The new technology is expected to be applied to a new generation of Chinese cars. At present, there is no official information spoiler, but combined with BYD’s patent application for hybrid system in 2021, there is some speculation that a set of double-row star gears may be added to the new system, which may be adjustable in two gears.
"BYD Hybrid System Patent Application"
The conclusion from the application information is that the new hybrid system has smaller size, lower cost, faster mode switching and better fuel economy. In other words, the new hybrid system can make dolphins and other models have DM models, and the fuel economy of DM-i models will be lower than that of the current models, and the product pricing will be lowered. At the same time, the system will be more intelligent and can meet more working conditions. Of course, none of the above has been officially confirmed, and we still need to wait for the official to reveal the answer.
According to Wang Chuanfu’s vision, "In the next 2-3 years, BYD will use crowd tactics and a large number of R&D personnel to maintain the ability of disruptive technology iteration, with engineers, vertical integration, market strategy and scale advantage. As for a certain technology, it is not the most important for BYD. There are many fish in BYD’s technology pool, and one is fished out when it is critical. "
So in 2024, what new products will we see in terms of new models?
Quanxinhan
"Brand-new Chinese imaginary map (source: Zhidian Travel)"
Judging from the information on the network, first of all, the brand-new Han took the lead in carrying DM 5.0 and used a brand-new hybrid special chassis. Because the hybrid mechanism is smaller, the shape of the new Han may be more streamlined and dynamic, and it may be upgraded to a front double wishbone suspension that pays more attention to handling. At the same time, the pure electric cruising range of the new car is also expected to increase. The interior is also expected to have a new upgrade. From Song L, we can see the progress of BYD’s interior design, and it is expected that the new Han will have a more eye-catching design. Finally, in terms of model size, according to some spy photos in the early stage, it can also be judged that the size of the new car will be longer and the seating space will be more comfortable.
Qin l
"Qin l spy photos"
Qin L is another model that is expected to be equipped with DM 5.0 technology. At the same time, like Song L, it will launch a pure electric model with CTB battery body integration technology based on E platform 3.0. Judging from the spy photos currently mastered, its appearance and interior will be the same as Song L, with a more dynamic and concise design and a coupe-style design, while the interior will have a larger instrument panel and central control screen. In terms of driving control and endurance performance, there will be better performance.
Meta UP
"yuan UP declaration map"
Yuan UP will be a brand-new small SUV, smaller than Yuan PLUS, and it is a pure electric SUV with a maximum power of 130 kW. Its model size is 4310/1830/1675mm, and its wheelbase is 2620 mm. At present, the new car has been shown in the declaration drawing, which adopts a completely different design style from the previous meta-family. The suspended roof, with a more lively appearance, presents a cross-border wind as a whole.
Sea lion 07 EV
"sea lion 07 EV』"
『Sea lion 07 EV spy photos』
Sea lion 07 EV has been unveiled at the Guangzhou Auto Show in 2023. It is positioned as a brand-new medium-sized SUV with an estimated price of 200,000-260,000 yuan, which is expected to be listed in the first half of the year. Also from e platform 3.0, it adopts marine aesthetic design, locates coupe SUV, and further optimizes the design aesthetics of seals. Judging from the published interior spy photos, it is expected that it may be close to the interior design of Song L.
Small sports car
『Imaginary map of BYD sports car (source: arrogant Wei Xiaohua)』
As early as 2009, BYD built the first sports car S8, which is also a hardtop convertible. Fifteen years later, in addition to looking up to U9, BYD brand will also launch a sports car. At present, there is no news of new models, but some imaginary pictures of new cars have been exposed on the Internet, and we can see that their shapes are quite cool, even the feeling of looking up at U9. After the GT has received a certain degree of attention, I believe that the market segment of civilian sports cars will also attract the pursuit of many young consumers.
Tengshi two flagship cars
『Tengshi Flagship Car (Source: Difen Home)』
Tengshi once said that it is expected to release two flagship cars that benchmark Porsche Panamera and replace Mercedes-Benz S-Class at the end of 2024, which should take the luxury sports route and the luxury and comfort route respectively. At present, the flagship car that replaces Porsche Panamera has been exposed, which adopts the design of hunting model, with slender body size, amazing car length and wheelbase, or will be positioned as a large car.
Equation Leopard Leopard 8
『Equation Leopard Leopard 8 spy photos』
The concept car of Equation Leopard 8 has been unveiled before. It is positioned as a large SUV and will still be a hard-core SUV. From the spy photos, its model size will be very huge. It is expected that the new car will be designed with three rows and seven seats, and there will be a spare tire at the tail. The lines of the whole body are quite tough. Leopard 8 will be built on BYD’s new DMO super hybrid off-road platform, equipped with a hybrid four-wheel drive system, and will also be equipped with Yunqi -P intelligent hydraulic body control system.
Look up at U6
"Look up at U6.Spy photos (Source: Zhidian Travel)』
Looking up to U6 will be a medium-sized and large-sized car of looking up to the family. It has the same lowest drag coefficient of 0.195Cd as Xiaomi SU7 in the industry, so it will have outstanding performance in battery life, which may exceed 1000 kilometers. It has an iconic C-head lamp design similar to looking up at U9. The whole body is streamlined and dynamic, equipped with laser radar, and the tail is a coupe shape. The interior of the new car will be equipped with a huge central control screen, and the screen size of the dashboard is not small. It is expected to be equipped with easy quad platform technology and launch a four-motor version.
Look up at U9
"Looking up at U9"
Looking up at U9, everyone is familiar with it. It is a super sports car with an acceleration of 0-100km/h to 2 seconds. It is also an easy Sifang technology platform product, and its estimated price is one million. Looking up, U9 will be equipped with a four-motor system. The maximum power of the four motors is 240 kW, and the comprehensive power is 960 kW, that is, 1306 HP. Its cloud -X technology can provide powerful chassis control capability. In terms of vehicle size, the length, width and height are 4966/2029/1295(1338)mm and the wheelbase is 2900mm respectively.
"BYD pickup spy photos (Source: Xiao Di Dilink)"
In addition, you may be more concerned about BYD pickup truck, but the previous news shows that the car may be the first to be launched overseas. At present, BYD’s strategy of going to sea is mainly based on vehicle export in the early stage, and the next stage will still be to build factories overseas. For example, BYD has already set up factories in Thailand and Hungary.
In Thailand, the EV 3.5 plan formulated by the local government, as long as foreign car companies can set up electric car factories in Thailand before 2027, can give imported cars up to 40% tariff reduction in 2024-2025, and can also reduce the consumption tax by 2%. Building factories overseas can not only reduce tariffs, but also reduce costs appropriately, and at the same time integrate into the local area to localize the models.
In Hungary, BYD has a local bus production base, and Hungary is located in the center of the European continent, which is an important transportation hub and has a certain automobile industry foundation. BYD’s goal is to occupy 1/10 of the sales of pure electric vehicles in Europe by the end of 2030 through the Hungarian factory and become the first electric vehicle brand in Europe.
"2023 Tokyo Auto Show Visitors Visit Tengshi D9"
Wang Chuanfu said, "BYD will also focus on countries without local automobile brands in the short term, enter the local area to build vehicle production plants and transport parts to the local area, which can reduce freight and tariffs." For overseas markets, the market with government subsidies for new energy will develop faster, and BYD can occupy the market faster.
At the same time, in the future, BYD will also rapidly develop offline stores and bring more products according to the rhythm. For example, in Japan, BYD will find many veteran dealers to shop. These dealers have experience, teams, funds and contacts, and can quickly build stores and launch them. At present, BYD has planned to open 100 stores in Japan by 2025.
Write at the end:
At the ceremony of BYD’s 5 million vehicles rolled off the assembly line in 2023, Wang Chuanfu choked several times in his affectionate speech. Just like when Musk was interviewed by the media in that year, behind the glory of the giant, there were countless nicknames, pressures and pains, and he was even regarded as an alternative, not a normal person. This heartfelt sadness can only be realized by personal experience, just like many Olympic champions will burst into tears when they stand on the podium.
In 2023, BYD ushered in a new high-light moment in the China market. With an eye to the future, while expanding its scale, BYD still needs to have a longer-term plan in terms of technology and management. In the increasingly involuted China market, BYD’s past people-sea tactics are no longer applicable, but now BYD needs more sophisticated talents to improve its brand image and the whole team. We have seen the transformation of BYD. The number of employees with a master’s degree or above has reached 10,000, which will help BYD make new breakthroughs in technology and become a global leader in the field of new energy. (Text/car home Qin Chao)
Tsui Hark praised the Dragon and Tiger Martial Master.
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A generation of martial artist Ching-Ying Lam.
