On November 8th, national business daily reporter learned from inside BYD that BYD’s high-end car brand was officially named "Looking Up". "Looking up to the brand is expected to be released in the first quarter of 2023, and its products are expected to beThe price is 800,000 ~ 1.5 million yuan, which is subject to the announcement of relevant models when they are on the market.The relevant person in charge of BYD told reporters that the first hard-core off-road vehicle will be unveiled simultaneously.
Image source: Sina Weibo (@ Looking at the car)
In February last year, when BYD adjusted the organizational structure of the company’s automobile business, it first confirmed to the outside world that it planned to launch a high-end brand. According to the original plan, the high-end brand built by BYD will be officially launched in 2022 ~2023, and the first model is expected to be officially unveiled in 2022, with a price of 500,000 ~ 800,000 yuan.
It is reported that Wangwang will adopt a brand-new brand identity, an independent sales service network and an operation team, and an independent sales company of Wangwang brand has also been established.
According to Qixinbao data, Shenzhen Wangwang Automobile Sales Co., Ltd. was established on November 7, with a registered capital of 1 million yuan. The legal representative is He Zhiqi, vice president of BYD (SZ002594, share price of 276.41 yuan, market value of 699.888 billion yuan), and BYD holds 100% of the shares. The company’s business scope includes the sales of new energy vehicles; Sales of electrical accessories for new energy vehicles; Sales of plug-in hybrid engine; Charging pile sales and so on.
Image source: Kai Xinbao
According to Ren Wanfu, an auto industry analyst, BYD’s high-end brand can enhance its corporate image and enhance its comprehensive strength. "It is not easy for car companies to build high-end brands overnight. Technology, products, marketing and services all need to match the brand positioning." Ren Wanfu said.
In recent years, BYD has been exploring high-end. In addition to planning to look up to the brand, BYD acquired 90% equity of the joint venture Tengshi through equity transfer at the end of last year, leading the strategic development plan of Tengshi. On August 23rd, Tengshi D9, the first high-end new energy MPV—— under Tengshi’s new strategy, was officially launched, with a price range of 329,800 ~ 660,000 yuan.
At present, BYD’s passenger car business consists of Dynasty, Ocean, Tengshi and Wangwang. Except Tengshi is a joint venture between BYD and Mercedes-Benz, other sub-brands are wholly owned by BYD.
Image source: vision china
In fact, in recent years, brand upward has become the development strategic direction of independent brands represented by BYD. Up to now, many independent brands, including BYD, have begun to focus on the high-end new energy vehicle market and launched their high-end brands. For example, ARCFOX Polar Fox, Lantu, Zhiji, Extreme Krypton, Salon, Aouita, etc.
"The creation of high-end brands means stronger development opportunities and brand promotion." Cui Dongshu, secretary general of the National Passenger Car Market Information Association, said in an interview that building high-end brands is also an inevitable trend of the development of new energy vehicles in the future.
In addition, the reporter found from a chart named "BYD Auto Brand Matrix" from a new energy vehicle WeChat group that in addition to luxury brands, high-end brands, and mainstream brands such as Dynasty and Ocean, BYD will also launch a high-end new energy pickup brand with a price ranging from 300,000 yuan to 800,000 yuan in 2023, named "Chaopai".
For the authenticity of the news that "Chaopai" will be launched in 2023, the reporter checked with BYD for the first time, but as of press time, no response was received.
In fact, the news about BYD’s entry into the pickup market was exposed as early as the beginning of 2021. In March, 2021, a photo of BYD’s product planning from 2021 to 2023 showed that in addition to the existing pure electric and DM-i/DM-p plug-in hybrid passenger cars (cars, SUVs, MPVs), BYD will also set foot in the pickup field in 2023 and launch pickup trucks with DM and EV power versions.
In addition to BYD, Geely Automobile has also begun to enter the field of new energy pickup trucks. In July this year, Geely Automobile released its new energy pickup truck brand-Radar, and launched China’s first all-electric platform pickup truck radar RD6. According to the plan, the radar RD6 will be delivered in the fourth quarter of this year.
According to incomplete statistics, at present, there are more than ten models of electric pickup trucks on the market, including the T90 EV version of SAIC Chase and the EV version of Futian General with the longest cruising range exceeding 500km(NEDC working condition). "Although the optimization of pickup trucks has shown an irreversible trend, pickup trucks are still the models with the lowest penetration rate of new energy." Li Shao Hua, Deputy Secretary-General of China Automobile Association, said.
According to the data of the Federation, in September this year, the domestic pickup truck market sold 44,000 vehicles, and the cumulative sales of the top five pickup truck manufacturers was about 35,500 vehicles, accounting for nearly 81%. From January to September, the total pickup truck in the domestic pickup truck market reached 387,000, and the cumulative sales volume of the top five pickup truck manufacturers was about 304,400, accounting for 78.65%. Judging from the current domestic pickup truck market sales situation, traditional fuel pickup trucks are still the mainstay.
Image source: Association
In addition, on October 26th, the 10th National Plan of Division of Key Tasks for Deepening the Reform of the "streamline administration, delegate power, strengthen regulation and improve services" Video Conference issued by the General Office of the State Council proposed to promote the lifting of the restrictions on pickup trucks entering the city. Compared with the previous proposal of "fine management of pickup trucks entering the city and further relaxation of restrictions on pickup trucks entering the city", this policy statement has been further strengthened.
Cui Dongshu said that liberalizing the restrictions on pickup trucks entering the city is conducive to the active pickup truck culture and promoting the consumption life of rural residents, which has certain potential to promote the development of pickup truck culture, and is also conducive to local governments to further introduce specific measures to promote automobile consumption. In this context, the industry will continue to pay attention to the future market performance of new energy pickup trucks and whether BYD will launch new energy pickup products.
Reporter |Li Xing
Edit |Cheng Peng Sunlei Du Hengfeng
Proofread |He xiaotao
Cover Image Source: vision china
| national business daily nbdnews original article |
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