AutoBeta(AutoBeta.net)05/10 Report--

On the afternoon of May 10, Zhao Changjiang, general manager of Tengli sales Division, announced that the launch of Tengli brand will be officially held on May 16, when Tengli D9 will also make its debut. On April 22nd, Zhao Changjiang officially announced that the first high-end MPV of the brand was named "Teng Teng D9", as the first high-end MPV of the brand, the new car positioning large luxury MPV, the new car will be equipped with DM and EV dual-power mode, ultra-long integrated battery life 1000km, at the same time the choice of four-wheel drive and two-wheel drive system, the price may start at 450000 yuan.

2022 is the 12th year of the establishment of Tengli Motor. According to the data, Tengli Automobile was founded in 2010 and headquartered in Shenzhen. It is a joint venture between BYD, a Chinese new energy vehicle company, and Daimler, a world luxury car manufacturing giant. Shenzhen Tengli New Energy Automobile Co., Ltd. was established on February 16, 2011, and BYD Automotive Industry Co., Ltd. and Daimler Greater China Investment Co., Ltd. each own 50%. On February 14 this year, Teng Teng Automobile sales and Service Co., Ltd. was established. The company is a wholly owned subsidiary of BYD Automotive Industry Co., Ltd., with a registered capital of 50 million yuan. He Zhiqi, the legal representative, is the general manager and chairman of BYD Automobile Co., Ltd., the company's business scope includes new car sales, new energy vehicle sales, electrical accessories sales and other business.

As the first new energy vehicle joint venture brand in China, Tengli Automobile attracted much attention at the beginning of its birth because of the strong background of both shareholders. Wang Chuanfu, chairman of BYD, also said: "as the child of Daimler and BYD, Tengli is a brand born on the shoulders of giants." The first production car, Tengli 300, was launched at the 2014 Beijing Auto Show and officially went on sale in September of that year at a price of 36.9-399000 yuan. However, the sales volume of its first production car Tencent 300 is not ideal after its launch, and after many upgrades, it has launched Tencent 400,500 and so on. In November 2019, the second model, Tengli X, was officially launched at the Guangzhou Auto Show. The car is based on BYD Tang EV600, with a total of 8 models. The Tencent X of 7-seat SUV includes plug-in hybrid SUV and pure electric SUV, in terms of price. The price of the pure electric model is 31.98-357800 yuan, and that of the plug-in model is 28.98-319800 yuan. The sales of the car are also not satisfactory.

Although Tengli began to distribute the auto market in 2014, Tengli, which entered the market earlier, was unable to turn the market around. According to the data, the sales volume from 2015 to 2019 was 2800, 2287, 4713, 1974 and 2089 respectively, with a cumulative sales volume of 13863 vehicles in four years and a cumulative loss of more than 3.5 billion yuan in five years. By 2020, although Tengli X has been added to its unit, its average monthly sales in 2020 will still be less than 350. the reason for its poor sales is that it is based on BYD Tang EV600. According to the data, the cumulative sales of Tengli was only 4175 vehicles in 2020.

Reviewing the development process of Tengli, although the sales volume of Tengli is not ideal, BYD and Daimler still provide some financial support for Teng to seek new development. data show that in May 2017, May 2018, February 2019, May 2019 and January 2020, BYD and Daimler added 1 billion yuan, 800 million yuan, 400 million yuan, 300 million yuan and 350 million yuan to Tengli, respectively. Over the past three years, the trend has accumulated 5.4 billion yuan of additional capital for shareholders. On December 24, 2021, BYD announced that holding subsidiaries BYD Automotive Industry and Daimler have respectively increased their capital by 1 billion yuan to Shenzhen Tengli New Energy Automobile Co., Ltd. It is worth mentioning that on the day BYD issued the capital increase announcement, market news pointed out that Daimler decided to transfer its stake after a long period of blood transfusion. According to the news, BYD and Daimler have signed an equity transfer agreement on adjusting the momentum, and the two sides intend to transfer the Tengli shareholdings. After the completion of the transfer, Daimler and BYD's holding of Tengli shares will be adjusted to 10% and 90%. Related matters are scheduled to be completed by mid-2022. But neither BYD nor Daimler responded to the report at the time.

With the release of the booming brand, it means that BYD will add another high-end brand. For BYD, 2022 will be a year for BYD to hit the high end as a whole, following news that BYD will launch a high-end brand and that the first car will be a hard off-road SUV priced at more than 500000 yuan.

According to today's well-known car blogger @ Wu Pei: Tengli is a high-end brand of BYD, but there is a more high-end one called Xingsky, which means "looking up at the stars in a down-to-earth manner." At the same time, Star will plan a product similar to the Mercedes-Benz G non-load-bearing body SUV, the vehicle uses wheel-side motor technology, but also through the tire forward and backward rotation, complete in-situ U-turn, high-performance motor loading. At the same time, BYD Star will have another more mysterious model. So far, BYD officials have not responded to the news.

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