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According to media reports, Wang Qiufeng, former general manager of Tencent Automobile, has officially joined BAIC New Energy as vice president of ARCFOX BU, responsible for the brand marketing. After joining BAIC New Energy, Wang Qiufeng will take charge of ARCFOX brand marketing and report directly to Yu Liguo, president of ARCFOX BU.

This is another personnel change within BAIC New Energy since Liu Yu, former executive deputy general manager of Beijing Hyundai, took office as general manager of BAIC New Energy on July 24.

According to data, Wang Qiufeng graduated from Beijing University of Technology majoring in automobile, joined the Economic Observer in 2004, joined China Business Daily in September 2010, joined Sohu as director of Sohu Automotive News Center in 2011, and has been Tencent Automobile Director since 2013.

ARCFOX, the latest high-end pure electricity brand under BAIC New Energy, was launched in August 2016. At this year's Beijing Auto Show, the first mass-produced model, ARCFOX α T, was officially pre-sold. The new car is located in a pure electric medium-sized SUV with a pre-sale price range of 25-330000 yuan, and is expected to be officially launched on the 24th of this month.

As a new energy vehicle company founded in 2009, it has been implementing a single-brand strategy, its products are mainly cost-effective models, and achieved good sales results in the new energy vehicle dividend period. However, under the background of the decline of new energy vehicle subsidies and the accelerated elimination of the auto market, the current BAIC new energy has lost its former luster.

BAIC New Energy sales fell 77.57 per cent to 2245 vehicles in September and 78.57 per cent year-on-year sales in the first three quarters of this year to 21086 vehicles, according to the data.

According to the financial results released by BAIC Blue Valley, the company's operating income increased by 30.39% to 23.589 billion yuan in 2019 compared with the same period last year, and its net profit increased by 25.54% to 92.0101 million yuan compared with the same period last year. BAIC Blue Valley received a cumulative government subsidy of 1.04 billion yuan in the current period, and the net profit excluding non-operating profit and loss was 870 million yuan. In other words, government subsidies are still an important source of profit for BAIC's new energy.

BAIC Langu suffered a huge profit loss in the first half of this year despite a decline in sales. According to the financial report, BAIC Langu's operating income fell 69.84% to 3.112 billion yuan in the first half of the year, and net profit fell 2814.98% to-1.863 billion yuan compared with the same period last year, including government subsidies of 69 million yuan. Net profit after deducting non-operating profit and loss was-1.989 billion yuan.

Some analysts believe that BAIC New Energy relies on online car-hailing and taxi markets to achieve volume at a time of rapid expansion, and there are large-scale order purchases by travel companies, so as to achieve the first place in China, but now this part of the market is saturated. BAIC New Energy accounts for a small proportion of sales in individual terminals, which leads to the dilemma that brand models cannot be sold, and the collapse in sales can also be expected.

At present, BAIC New Energy and Beijing Automotive jointly launched the BEIJING automobile brand, covering new energy vehicles and fuel vehicles to achieve common development. For BAIC New Energy, the dilemma of BAIC New Energy can be solved only by seeking sales in the private new energy market, and ARCFOX can be regarded as a "weapon" for BAIC New Energy to devote itself to the market of mid-and high-end brand new energy vehicles. BAIC New Energy also places high hopes on this brand.

However, it can be foreseen that in the face of traditional car companies speeding up the layout of the new energy field, domestic car brands and the impact of Tesla on the market, BAIC New Energy will inevitably lose market share in the future, and the future ARCFOX sales of Standard Tesla are also full of unknown.

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