On January 16th,BYD held its 2024 Dream Day event,during which it released a new energy vehicle intelligent development strategy-vehicle intelligence,as well as a series of technological achievements such as the industry's first intelligent electric integration intelligent architecture Xuanji and Xuanji AI big model,accelerating the intelligent transformation of the automotive industry.
During the dream date,BYD held a large-scale intelligent experience exhibition,covering a series of technologies such as vehicle intelligence,intelligent driving,intelligent parking,and intelligent cockpit.
At the same time,BYD announced a massive investment of 5 billion yuan to build the world's first batch of all terrain professional racing tracks,build a new energy era of automotive culture,promote the vigorous development of Chinese automotive culture,and go global.
Recently,BYD has surpassed Tesla in sales to become the world's number one.With various actions,BYD has a strong desire to pursue while winning.Since BYD fully transformed its production and sales of new energy vehicles,there has been a rapid growth in sales,market value,and brand.BYD has firmly grasped the trend of new energy vehicle development and maximized its leverage.Nowadays,BYD's development is comprehensively advancing towards internationalization and intelligence,and China will also have a globally renowned automotive brand,allowing the world to witness China's strength.
one
Sales topped out
At the beginning of 2024,major car companies were showcasing their 2023 results,with the most eye-catching being BYD's"four firsts".These four firsts respectively ranked first in the global new energy vehicle market sales,first in the Chinese automotive market car company sales,and first in the Chinese automotive market brand sales.The fourth first is the largest automotive company in China.
On the evening of January 2nd,Tesla released production and sales data showing that in the fourth quarter of 2023,484500 pure electric vehicles were delivered.BYD sold 526400 pure electric vehicles in the fourth quarter of 2023.
This means that in the fourth quarter of 2023,BYD's pure electric car model sales surpassed Tesla's.
In 2022 and 2023,BYD won the global new energy vehicle sales crown twice,but the sales behind the first place include pure electric and hybrid models.Tesla has always been the global best-selling pure electric vehicle of the year.
Now,the changes in data for the fourth quarter of 2023 indicate that BYD may remain the world's best-selling new energy vehicle.
After surpassing Tesla in 2022 to become the sales leader in the new energy vehicle field,BYD continued to maintain its lead over Tesla in 2023 and continued to expand its advantages.In 2022,BYD's annual sales of new energy vehicles reached 1.8685 million units,a year-on-year increase of 152.46%.During the same period,Tesla's annual sales were 1.31 million units,with BYD leading Tesla by 558500 units,becoming the world's best-selling new energy vehicle.
In 2023,BYD's sales of new energy vehicles reached 3.02 million units,a year-on-year increase of 61.8%.Tesla's sales during the same period were 1.81 million vehicles,a year-on-year increase of 38%.BYD has expanded its advantage of 558500 vehicles maintained in 2022 to 1.21 million vehicles,firmly establishing its position as the leader of new energy vehicles.At the same time,BYD has achieved outstanding performance in 2023,ranking ninth in the global automotive market and becoming the only new energy vehicle company in the top ten,as well as the only Chinese car company.
From BYD's sales structure in 2023,passenger cars account for the vast majority of sales compared to commercial vehicles.Among them,the sales of pure electric passenger cars were 1.575 million,a year-on-year increase of 72.8%,and the sales of plug-in hybrid passenger cars were 1.438 million,a year-on-year increase of 52%.Pure electric and hybrid models are advancing side by side,with further strengthening of economies of scale.
From the annual sales of pure electric models,Tesla remains the world's best-selling car in 2023.In 2023,BYD still had a gap of 233800 units in pure electric vehicle sales compared to Tesla.However,in 2024,Tesla's position as the world's best-selling pure electric vehicle will be directly challenged by BYD.
Based on past financial data,BYD has also achieved development advantages.In the third quarter of 2023,BYD achieved its best quarterly performance in history,with a net profit attributable to shareholders exceeding 10 billion yuan,comparable to the net profit attributable to shareholders in the first half of 2023.In the first three quarters,BYD's total revenue was 422.275 billion yuan,a year-on-year increase of 58%,and its net profit was 21.367 billion yuan,a significant increase of about 130%year-on-year.Both in terms of revenue and growth,it is one of the most profitable domestic car companies.
BYD's success is not only reflected in sales,but also in the speed of product upgrades.In recent years,BYD has launched leading series such as Ocean and Dynasty,as well as more high-end brands such as Yangwang.Every year,there are updates to popular car models,keeping BYD at the forefront of the electric vehicle industry.
two
Go to sea to compete
A comprehensive automotive brand,the overseas market share is also a very important measurement indicator.Tesla's high popularity comes from its comprehensive overseas sales.BYD,which used to focus on domestic sales,is now"brushing its face"around the world.
Under the policy guidance of the country's clear goal of cultivating automobile export advantages,BYD exported 242765 units in 2023,a year-on-year increase of 334.2%.The brand influence,which ranks first in global new energy sales,and its comprehensive leading technological strength have earned BYD recognition and support from top overseas distributors,accelerating the pace of BYD's global development.
In May 2021,BYD launched the"Passenger Car Overseas"plan and gradually established and improved the overseas localized new energy vehicle industry chain.At present,BYD's commercial and passenger vehicles have been exported to over 400 cities in over 70 countries and regions worldwide.
Relying on its global brand strategy and market layout,BYD has frequently won sales championships in multiple markets.In the first half of this year,BYD entered the top ten global car sales for the first time.
In Thailand and Singapore,BYD won the cumulative sales champion of pure electric vehicles from January to November;In Brazil,BYD has become the sales champion of the local new energy vehicle market for five consecutive months in the second half of this year,continuously breaking the single day new energy vehicle sales record;In Colombia and Costa Rica,BYD won the cumulative sales champion of new energy vehicles from January to November this year.
Based on its global layout strategy,BYD has previously announced the construction of new energy vehicle production bases in Thailand and Brazil to assist it in expanding into new energy vehicle markets in Southeast Asia,the Americas,and other regions.
In the most important European market,BYD is also steadily expanding.Since announcing its entry into the European passenger car market at the Paris Auto Show in 2022,BYD has currently entered 19 European countries in the sales of new energy vehicles.
On December 22nd,BYD announced that it will build a new energy vehicle production base in Seged,Hungary.At present,BYD sells 5 pure electric models in the European market,including Han,Tang,ATTO3,Seal,and Dolphin.By 2024,BYD plans to add three more models to the European market,further expanding its market share in Europe.The decision of BYD to build its first factory in Seged,Hungary is of great significance.This is the first case of a Chinese independent brand establishing a production plant in the hinterland of Europe.It is reported that the factory will be built in stages and is expected to create thousands of local employment opportunities.
In Southeast Asia,BYD's expansion has also further expanded.After delivering commercial buses in Indonesia,on January 18th,BYD will launch electric vehicle products in the country,officially entering the local passenger car market.BYD delivered 500 electric vehicles of E6 and T3 models to Indonesia's Blue Bird Taxi in 2023,as well as 22 K9 electric buses to Indonesia's electric bus dealer VKTR Group.The launch ceremony on January 18th will be BYD's first appearance in Indonesia,which will activate the Indonesian passenger car market and make Indonesia a part of BYD's long-term global business expansion map.
three
Next level intelligence
At the end of March last year,BYD Chairman Wang Chuanfu once said:Autonomous driving is all nonsense,making things that are empty headed and brainless are all deceiving.It is just a new outfit for the emperor.As a result,at the beginning of 2024,BYD showcased its black technology"muscles",including intelligent driving,on the 2024 Dream Day with intelligence as its theme.
The competition in the automotive industry is electrification in the first half and intelligence in the second half.In the era of electrification,BYD has already proven its"world number one"position through sales,and the next step is no longer to repeat and replicate,but to lead to the next level.
Once upon a time,when the outside world talked about the intelligence strength of car companies,they often first thought of Tesla,Huawei,and Xiaopeng,while excluding BYD.Wang Chuanfu's criticism of unmanned driving was once interpreted as"sour grapes if you can't eat grapes.".
However,Wang Chuanfu stated that condemning autonomous driving is nonsense and deception,based on the observation that the current market does not have the conditions for autonomous driving to land.Once the timing is right,it is difficult to say that BYD will not be the first batch of car companies to lay out autonomous driving.
On Dream Day,BYD attempted to redefine the trend of automotive intelligence in its own way and accelerate the intelligent transformation of the automotive industry.BYD believes that the current industry equates automotive intelligence with intelligent cabin driving,leading to a narrowing of the concept.In fact,intelligence is not limited to intelligent cabin and driving.Wang Chuanfu said,"Intelligent vehicles are the true intelligence."
Based on this understanding,BYD has released a vehicle intelligence strategy:achieving efficient integration of electrification and intelligence through the Xuanji intelligent architecture.The whole vehicle intelligence breaks down barriers between different systems,achieving real-time capture of changes in the internal and external environment,summarizing information and feedback to a"brain"for decision-making in milliseconds,quickly adjusting the vehicle's"body"state,greatly improving driving safety and comfort.At the same time,vehicle intelligence enables cars to better understand people,achieve more personalized settings,and achieve a thousand people and a thousand faces.
The implementation of vehicle intelligence benefits from the strategic advantages brought by BYD's full stack self-developed and vertical integration on one hand;On the other hand,BYD's accumulation in the field of electrification is indispensable,laying a solid foundation for vehicle intelligence.
The Xuanji architecture,as the first intelligent architecture in the industry that integrates intelligence and electronics,is an important component of vehicle intelligence.It gives cars an intelligent"brain"and"neural network",allowing them to perceive,concentrate,precisely control,and collaborate like advanced intelligent life forms.
Wang Chuanfu stated that in the future,BYD will invest 100 billion yuan in the field of intelligence,research the technological route of vehicle intelligence,lead the development direction of new energy vehicles,bring more industry-leading technological achievements,and accelerate the intelligent transformation of the automotive industry.
At the same time,BYD will continuously lower the experience threshold for intelligent driving and accelerate the popularization of intelligent driving.During the event,BYD announced that it will equip models priced at 300000 yuan and above with BYD's advanced intelligent driving system as standard,while models priced at 200000 yuan and above will offer optional equipment.
BYD's rapid growth from 740000 vehicles in 2021,to 1.86 million vehicles in 2022,and then to 3.02 million vehicles in 2023,coupled with such a large volume,is now about to embark on the intelligentization of electric vehicles.This is not only a miracle created in the new energy era,but also a testament to the infinite possibilities of China's automotive future.
