On the new energy track, BYD has a one-horse ride.

 

On August 29, BYD released an announcement showing that the company achieved revenue of 150.6 billion yuan in the first half of the year, up 65.7% year-on-year; and net profit of 3.595 billion yuan, up 206.35% year-on-year.

 

Its first-half revenue and net profit both hit a new high for the same period, and net profit was more than last year's annual level of 3.05 billion.

 

 

CCA data show that in the first seven months of this year, the production and sales of new energy vehicles continued to maintain high growth year-on-year, production and sales reached 3.279 million units and 3.194 million units respectively, an increase of 1.2 times year-on-year, with a market share of 22.1%. Among them, the BYD brand in the first half of the new energy vehicle market share reached 24.7%, an increase of more than 7.5% over 2021.

 

For BYD's automotive business segment, the first half of this year was a key turning point. in early April, BYD announced that it would cease full vehicle production of fuel-fired vehicles from March 2022 and would focus on pure electric and plug-in hybrid vehicle business, becoming the first car company in the world to stop production of fuel-fired vehicles.

 

 

According to the financial data, BYD sold 641,400 new vehicles in the first half of this year, an increase of 314.9% year-on-year, becoming the world's new energy vehicle "sales champion". Among them, the DM plug-in model cumulative sales of about 315,000 units, an increase of 454.22% year-on-year; BYD Han family cumulative sales of more than 250,000 units, becoming the first Chinese brand models to achieve an average price and sales of more than 250,000 yuan.

 

In the first half of this year, BYD spent 6.47 billion yuan on research and development, an increase of 46.63% year-on-year, and the second half of its high-end brands will be an intensive breakthrough. Among them, the first high-end new energy MPV model D9 of the Tenshi brand has been recently listed, another high-end brand will be released in the fourth quarter of this year, the first model priced at more than one million yuan, and BYD's first hardcore off-road model will also be unveiled in the second half of the year.

 

In the first half of 2022, many unfavorable factors such as macroeconomic downturn, multi-point epidemic distribution, chip shortage and continuous rise in raw material prices caused a certain degree of negative impact on the automotive industry chain, but with the intensive introduction of policies to stimulate the sales of new energy vehicles in many places, the new energy vehicle industry has always been a standout.

 

It is worth noting that since the first half of the year, BYD has sounded the trumpet of going to sea, and its pace is moving towards the markets of Australia, Brazil, Japan, Singapore, Germany, Sweden and so on. According to BYD's production and sales flash report, the company sold 4,026 new energy passenger cars overseas in July.