AutoBeta(AutoBeta.net)04/23 Report--

On April 22nd, the first MPV of Tengli was finally named. According to the official release of Tengli, the new car, named "D9", will be delivered in the second half of this year. Mainly hit the large-scale luxury MPV market, the price may start at 450000 yuan, is expected to start pre-sale in May. In terms of power, both pure electric and plug-in hybrid models will be provided. Among them, the pure electric mileage of the D9 plug-in hybrid model is 200km, the comprehensive range is 800km ~ 1100 km, and the pure electric version is 500km ~ 800km.

It is understood that Tengli Automobile is a joint venture between BYD and Daimler in China in 2010 according to the 50:50 share ratio. Shenzhen BYD Daimler New Technology Co., Ltd. was established in 2011 and renamed Shenzhen Tengli New Energy Automobile Co., Ltd in 2016. With the halo of the two big trees of BYD and Daimler, momentum was favored by the industry as soon as it was established. after all, BYD has the advantages of power battery technology and drive technology, while Daimler has rich experience in vehicle manufacturing. the two sides are naturally optimistic about jointly building the "momentum" brand. Wang Chuanfu, chairman of BYD, also said: "BYD provides battery and drive technology, Mercedes-Benz has vehicle technology, BYD can learn from Daimler's experience and car-building philosophy, and Daimler can gain vitality from us." However, the development of Tengli car is not as powerful as expected. Since its establishment, its sales have been in the doldrums, and the sales of several models on the market have not increased.

Tengli 300, the first product of Tengli Automobile, went on sale in 2014. the car is positioned as a high-end commercial electric vehicle with a market price of 36.9-399000 yuan. after the launch, the sales of the new car did not achieve the expected effect, with annual sales of about 2000 vehicles. According to the Federation of passengers, Teng Teng sold 2800, 2287, 4713, 1974 and 2089 vehicles respectively from 2015 to 2019, with a cumulative sales of 13863 vehicles over a five-year period. In 2018, Tengli 400 and Tengli 500 models were launched one after another, but these products increased the battery capacity and battery life of the previous generation models, and did not actually solve the situation of low brand awareness and product disapproval. As a result, Tengli sales have been in the doldrums, falling into a difficult period of brand and product management. According to the relevant data, the cumulative loss of Tengli Automobile in six years from 2016 to 2021 is more than 4.39 billion yuan. Launched in 2019, the new car is based on BYD Tang EV600, which aims to solve the situation of a single product line for many years. The price of the new car is 31.98-357800 yuan for pure electric models and 28.98-319800 yuan for plug-in hybrid models. However, the emergence of Tengli X has also boosted sales of Tengli cars.

As for the perennial slump in sales volume, BYD and Daimler did not give up and increased their capital many times. According to public data, in May 2017, May 2018, February 2019, May 2019 and January 2020, BYD and Daimler increased their capital by 1 billion yuan, 800 million yuan, 400 million yuan, 300 million yuan and 350 million yuan respectively to Tengli Motor. Tengli has received a cumulative capital increase of more than 5 billion yuan from both shareholders. In addition, in order to increase the sales volume of the momentum, in 2019, Daimler put the sales system of the momentum under its control, taking advantage of Mercedes-Benz's domestic sales channels to open up the market for the momentum cars. Beijing Mercedes-Benz sales and Service Co., Ltd. is officially responsible for the operation of some businesses of momentum, including sales, marketing and brand communication, customer service, network development, etc., hoping to improve brand awareness. However, the move did not drive its booming sales. In December 2021, the equity of BYD Daimler's joint venture changed for ten years, and the two sides were "separated". According to media sources, BYD and Daimler have signed an equity transfer agreement to adjust the momentum, and the two sides intend to transfer the Tengli stake. After the completion of the transfer, the shares held by Daimler and BYD have been adjusted to 10% and 90%, and the related matters are scheduled to be completed by mid-2022.

It is not difficult to see that after entering 2022, BYD is also in a dense layout in the new energy vehicle market. On April 3, BYD officially announced that it would stop production of fuel-fueled vehicles from March 2022. In February this year, BYD set up Tengli Automobile sales and Service Co., Ltd. BYD said it would devote more resources and core business to momentum to help it develop better in areas such as product research and development and smart manufacturing, channels and sales services. However, the low brand awareness of momentum is its biggest obstacle, and it still takes time to be recognized by consumers. In addition, now the growth of the new energy vehicle market is slowing down, subsidies are sloping sharply, and the first MPV is priced at 450000 yuan. For the market, it will take time to see whether this price can be accepted by consumers.

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