Chinese Market Q1 2022 (1): SAIC, FAW, BYD, etc. accelerate development in battery and energy fields

GAC Aion expands production, Luxshare invests in Chery, NIO listed in Hong Kong



2021年 vs 2022年销量

 According to an April 11, 2022 announcement by the China Association of Automotive Manufacturers (CAAM), first-quarter (January-March) 2022 production (factory shipments) was up 0.2% year-over-year (y/y) to 6.529 million units, of which 5.927 million units were sold, excluding exports. In addition, the sales volume (ex-factory) of New Energy Vehicles (NEVs) in the first quarter (Q1) increased by 138.6% from the previous year to 1.257 million units, while NEV sales excluding exports totaled 1.137 million units.

 This report focuses primarily on key trends in the China market for Chinese automakers (state-owned, privately-owned, and emerging EV automakers) in Q1 of 2022. Automakers continue to accelerate their deployments in the NEV and intelligent connected areas. In the NEV field, SAIC-GM-Wuling announced the "Wuling New Energy Strategy," which aims to achieve sales of 1 million NEVs by 2023. The Dongfeng Motor Group has begun construction of a Dongfeng luxury off-road NEV assembly plant with an annual production capacity of 100,000 units. The GAC Group will increase its production capacity from 100,000 units to 200,000 units through the second phase of construction of the GAC Aion smart ecological plant. Great Wall Motor plans to launch more than 50 NEV models by 2025. BYD will establish an industrial park in Xiangyang, Hubei Province, to work on a manufacturing project for NEVs, components, etc. Chery New Energy Automotive Co., Ltd. plans to establish a joint venture for NEV R&D and manufacturing with Luxshare Precision Industry Co., Ltd., a leading electronics contract manufacturing service provider. Emerging EV automaker Zhejiang Leapmotor Technology Co., Ltd. (Leapmotor) plans to launch eight new models by the end of 2025.

 In the intelligent connected field, the SAIC Group established the General Institute for Innovative R&D. It also built a design and smart driving co-creation center in collaboration with its subsidiary EV brand, Rising Auto. SAIC-GM-Wuling has agreed to a comprehensive strategic alliance with Horizon Robotics in the field of smart driving. The JAC Group and Thunder Software Technology Co., Ltd. (ThunderSoft) have formed a joint venture R&D company that will focus on in-vehicle software, automotive cloud platforms, and core technologies for autonomous driving. Geely's ZEEKR brand and Mobileye Vision Technology Ltd (Mobileye) will deepen their strategic alliance on autonomous driving. BYD and Nvidia Corporation (NVIDIA) have agreed to a partnership in the field of smart driving technology. Xiaopeng Motors (XPeng), an emerging EV automaker, established a science and technology company for autonomous driving, and Hozon New Energy Automobile Co., Ltd., (Hozon Auto) has announced a smart driving system. Baidu and Geely's joint venture NEV manufacturer and ZF have agreed to a strategic alliance to develop products in technological areas such as intelligent chassis.


Related Reports:
FAW: Aiming for 6.5 Million Units Sales and 20% NEV Ratio By 2025(Mar. 2022)
BYD: Car sales up 75% to 730k in 2021, in-house NEV development(Mar. 2022)
2021 Chinese market: New vehicle sales up 3.8% to 26,275,000 units, NEV sales 3,521,000 units(Feb. 2022)
Chinese market Q4 2021 (2): Honda, BMW and Audi announce electrification strategy plans(Feb. 2022)
Chinese market Q4 2021 (1): SAIC, FAW and GAC focus on Robotaxis(Feb. 2022)
SAIC: Investing CNY 300 billion in smart EVs, transforming into a user-oriented high-tech(Jan. 2022)