BYD confirms sales target for 2022.
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BYD sales target is up 25% from the company’s previously mentioned high of 1.2 million units, which translates to an average of 125,000 units sold per month.
Late last year, BYD told investors it expected to sell as many as 1.2 million New Energy Vehicles by 2022. Now, the company appears to have raised that target by 25%.
China’s largest new energy vehicle maker announced its main goals for this year, the first of which is to serve 3 million new energy vehicle customers.
BYD did not directly mention its sales target for this year, but data released earlier last month showed its new-energy passenger vehicle sales totaled about 1.51 million units by the end of 2021.
That means the company is aiming to sell about 1.5 million New Energy Vehicles this year, up 153% from the 593,700 sold in 2021.
In December last year, BYD said in an investor conference call that its new energy vehicle sales target for 2022 is about 1.1 to 1.2 million units, of which battery electric vehicles and plug-in hybrid electric vehicles are 600,000 vehicles, Shenzhen Business Daily reported on the 12th.
BYD’s implied target of 1.5 million units is a 25% upward revision to the previously mentioned target, implying an average of 125,000 units sold per month.
For BYD, this does not appear to be an elusive goal.
The company started last year selling less than 30,000 new energy vehicles a month, but had grown to more than 90,000 by the end of the year.
BYD sold 93,168 new energy vehicles in January, a year-on-year increase of 361.7%, which was basically the same as the 93,945 in December, and exceeded 90,000 for the third consecutive month.
The second goal BYD announced is to bring its products to more countries and regions this year to “create a greener and better future” with global customers.
The third goal is to increase production capacity and do their best to shorten lead times. Previously, BYD had apologized for taking too many orders and making customers wait too long.
BYD’s fourth goal is to launch an “unprecedented” high-end brand, subverting all your imagination with the ultimate technology.
BYD did not provide any further information, but the company was quoted by the “National Business Daily” late last year as saying that the high-end brand will be launched in the first half of 2022, and the first model will be a hard-core crossover. The price will be 500,000 yuan. to 1 million yuan.
The Denza brand, a partnership between BYD and Daimler, will also launch a new model next year, and both companies will increase investment in the brand, the report said.
BYD will also appoint a “new executive” to serve customers with a new image, in wording that seems to suggest it might launch some kind of product to serve customers.
BYD Co., Ltd. (“Building Your Dreams”) is a Chinese manufacturing company headquartered in Shenzhen, Guangdong, founded by Wang Chuanfu in February 1995. It owns two subsidiaries, BYD Auto and BYD Electronics.
Founded in February 1995 and listed on the Hong Kong Stock Exchange on July 31, 2002.
BYD Co., Ltd. started out as a rechargeable battery factory competing with Japanese imports in the Chinese market.
A year after the acquisition of Tianjin Automobile Co., Ltd. in 2002, BYD Automobile Co., Ltd. was born. As one of many Chinese automakers, its sales in 2010 ranked sixth.
To take advantage of BYD’s battery production resources, it also sells electric vehicles in addition to gasoline-powered models.
The company is headquartered in Pingshan District, Shenzhen City, Guangdong Province. The North American headquarters is located in downtown Los Angeles, and BYD has sales offices in several countries.
The company has been recognized for innovation; for example, it developed technology that allows cell phone batteries to be manufactured at room temperature, rather than in expensive heated drying chambers.
In 2010, Business Week ranked BYD as the 8th most innovative company in the world, and in the same year, Fast Company ranked BYD as the 16th most innovative company.
In 2017, BYD won the top innovation award for its new battery energy storage system, which drives advances in modularity, charge-discharge capacity and efficiency.
Automotive manufacturing facilities include an automobile assembly line in Xi’an, a K9 electric bus manufacturing facility in Dalian, a Bloomberg New Energy Finance Tier 1 photovoltaic module (solar panel) manufacturing facility in Beijing, an R&D centre, and a Shenzhen assembly line for Xinsheng Motors and a Shanghai R&D centre.
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