Written by Cláudio Afonso | LinkedIn | X
Wang Chuanfu, the founder and CEO of BYD, or simply ‘the Chairman’ as he is known within the company, hosted on Tuesday the pre-sale launch event for the Z9 GT, the new model under the company’s sub-brand Denza.
During his presentation, the Chairman highlighted the growth of Chinese luxury car makers in the new energy vehicle (NEV) industry which includes both plug-in hybrids and fully electric vehicles.
In one of the slides, Wang Chuanfu showed the logos from Hongqi, Voyah, Nio, Li Auto, Aito and Avatr next to BYD’s sub-brand Denza. The slide was titled, “Chinese luxury brands rise together toward the world.”
According to BYD, and as of the end of June, Chinese brands now account for 34.7% of the country’s luxury market.
Huawei-backed electric vehicle (EV) brand Aito saw its 400,000th vehicle roll off the production line in late July and has an average selling price of 396,000 yuan, equivalent to $55,500. Denza’s average price stands slightly lower at 369,000 yuan ($51,700).
As of the end of July, the Changan-Huawei-CATL joint venture brand Avatr had delivered 32,655 vehicles year to date as it ramps up production while preparing to launch a new extended range model, the Avatr 07.
Changan Auto holds the largest stake in Avatr, owning 41% of the company, followed by Chinese battery giant CATL, which owns 14.1%.
Li Auto, which has an average selling price of 305,000 yuan, delivered 51,000 NEVs in July, achieving a 49.4% year over year growth. Year-to-date deliveries for the Beijing-based company reached 239,981 units.
The Shanghai-headquartered Nio delivered 20,498 vehicles last month with its year to date figures of 107,924 units representing a growth of 43.9%.
In the following slide of the keynote, the founder of BYD reiterated the message by stating, “Chinese luxury automotive brands are set to lead the next global wave in new energy vehicles”.
BYD delivered 342,383 new energy vehicles (NEVs) last month, up 30% year-over-year (YoY) and surpassing its previous record of 341,658 NEVs.
Among them, the company delivered 130,000 fully electric vehicles (BEVs).
Written by Cláudio Afonso | LinkedIn | X
