AutoBeta(AutoBeta.net)03/15 Report--

In January, BAIC's new energy production fell 98.17% from a year earlier, and sales also plunged 43.66% to 4512. In February, BAIC's new energy sales still did not improve. According to KuaiBao, a subsidiary of BAIC Blue Valley in February 2019, BAIC New Energy produced 500vehicles in February, down 91.77% from January to February and 95.36% from January to February last year. Car sales in February were 2867, down 34.33% from a year earlier. Cumulative sales from January to February were 7379, down 40.37% from a year earlier.

BAIC New Energy has been the top seller in China's pure electric vehicle market for six consecutive years, with car production of 110141 vehicles in 2018, an increase of 37.58 percent over the same period last year, and car sales of 158012 vehicles, up 53.11 percent from the same period last year. According to the third-quarter report released by BAIC Blue Valley last year, BAIC Blue Valley's revenue from January to September 2018 was 9.787 billion yuan, up 63.21% from the same period last year, while the net profit belonging to shareholders of listed companies was 130 million yuan, up 56.13% from the same period last year.

After entering 2019, production and sales plunged, for which BAIC New Energy vehicles did not give the specific reasons for the sharp decline in production and sales. However, according to media reports, some insiders revealed that at present, the bases of BAIC New Energy in Qingdao and Changzhou are carrying out equipment transformation, production introduction and staff training of new products for replacement models, and preparations for the introduction of new products are expected after EX3 production is put off the line. BAIC's production and sales of new energy will return to normal levels, and sales are expected to increase significantly in March.

According to the plan, BAIC New Energy has a sales target of 220000 vehicles in 2019, will launch six new cars based on three major platforms in 2021, and is expected to launch L4 self-driving mass-production models around 2025.

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