Transfer from: China Business News
????Our reporter Chen Jingbin reports from Beijing.
????During the development of China’s automobile industry, "we must build up the national automobile brand" and "we must firmly grasp the key core technologies in our own hands" are the deep entrustment of the central authorities for the development of the industry. This strategic guidance has become an important force to promote the rise of China’s automobile industry.
????On December 12th, at the 2024 China Automobile Industry High-quality Development Forum hosted by China Business Newspaper,Luo Hao, assistant general manager of Brand and Public Relations Department, shared the growth process of BYD’s building a world-class brand and profoundly explained the practical achievements of this concept.
????"Since 2021, the new energy vehicle market has ushered in an unprecedented outbreak, and the market penetration rate has continued to climb. In July this year, the monthly penetration rate of new energy vehicles exceeded 50% for the first time, indicating that new energy vehicles have become the mainstream of the China automobile market. " Luo Wei pointed out that with ChinaThe favorable environment for high-quality development, BYD achieved good development in 2024.
????"Last year, BYD successfully ranked among the top ten in global sales, which became an important milestone in the history of China’s automobile industry. In the first 10 months of this year, BYD’s global sales ranked further and climbed to the fifth place in the world. We firmly believe that in the next few years, more and more China automobile brands will rank among the world’s leading ranks and win wider international recognition and respect for China’s automobile industry. " Luo Wei said.
????Developing new energy vehicles is the core strategy to promote new quality productivity and realize the transformation and upgrading of the automobile industry. The CPC Central Committee and the State Council attach great importance to the development of the automobile industry. When inspecting the automobile industry, the central leadership clearly pointed out: "Developing new energy vehicles is the only way for China to move from a big automobile country to a powerful automobile country."
????In recent years, new energy vehicles have become a benchmark industry for high-quality development, with BYD as a typical representative, demonstrating the strong strength of high-quality development of new energy vehicle enterprises in China.
????Relevant data show that in the first 11 months of this year, the overall sales volume of China automobile market reached 27.94 million, showing a steady growth trend. Among them, new energy vehicles performed particularly well, with sales reaching 11.26 million, up 36% year-on-year. Last year, China has surpassed Japan to become the world’s largest automobile exporter. This year, this advantage continues to expand, and the volume of automobile exports has maintained rapid growth.
????Luo Hao said that according to the plan formulated by the Ministry of Industry and Information Technology in 2023, it was originally planned to achieve the goal of breaking the penetration rate of new energy vehicles by 50% in 2035. However, this goal was achieved 11 years ahead of schedule, which became an important symbol of the high-quality development of China automobile industry.
????Looking back, the rise of new energy vehicles has experienced a long-term accumulation and rapid breakthrough. From 2005 to 2020, the market penetration rate of new energy vehicles in China only increased by less than 5 percentage points. At that time, consumers’ awareness of new energy vehicles was limited and market confidence was insufficient. However, in just a few years, the market structure has undergone profound changes.
????"Five years ago, the market share of China automobile brands was only over 30%, and the industry prospect was not optimistic. However, by the first 10 months of 2024, the market share of China automobile brands has been close to 65%. Especially in October this year, the market share exceeded 70%, setting a record high. " Luo Wei said.
????In the first 11 months of this year, BYD’s sales have exceeded 3.75 million vehicles, surpassing the total sales last year. Especially in October and November, BYD sold more than 500,000 vehicles in a single month for two consecutive months, setting an industry record.
????"Last month, our 10 millionth new energy vehicle was officially launched. From the first car to the 5 millionth car, we used it for 15 years; It took only 15 months from the 5 millionth car to the 10 millionth car. This growth rate once again demonstrates the strong development momentum of the new energy automobile industry. " Luo Wei stressed.
????At the same time, BYD’s overall performance also showed strong growth. In the first three quarters of this year, BYD’s total revenue exceeded 500 billion yuan, a year-on-year increase of 19%. In the Fortune Global 500 list in 2024, BYD’s ranking jumped from 212 last year to 143, becoming the fastest-growing auto company this year.
????BYD can continue to maintain steady growth in performance, which is inseparable from its deep cultivation and innovation in the field of R&D, firmly holding the core technology in its own hands, and winning the industry opportunities through continuous investment in technology R&D..
????Luo Hao pointed out that in the past 13 years, BYD’s R&D investment far exceeded its net profit in the same period. In the first three quarters of this year, BYD’s R&D expenditure reached 33.3 billion yuan, ranking first among more than 5,300 A-share listed companies. So far, BYD’s accumulated R&D investment has exceeded 160 billion yuan, with 110,000 senior engineers, ranking first among global car companies.
????Through continuous investment in technology research and development, BYD has grasped the trend of technological change in the industry one step ahead. Luo Hao mentioned that BYD first put forward the development concept of "electrification in the first half and intelligence in the second half" in the industry. He recalled: "BYD started very early in the electrification layout. As early as 2004 Beijing Auto Show, we launched the pure electric ET concept car. For more than 20 years, BYD has continuously introduced technologies with subversive innovations, such as blade batteries, DM-i, DMO, Easy Sifang and Easy Tripartite. "
