BYD’s annual sales of electric vehicles are expected to exceed 1.9 million, and the production capacity of the second-generation blade battery has been released smoothly
A few days ago, Soochow Securities released theBYD:OctobersalesDazzling and new highs, new models contribute incrementally,” the research report pointed out, BYD announced in OctoberNew energy vehicle sales, exceeding market expectations.According to the company’s production and sales express, BYD in Octobernew energy vehiclesThe sales volume was 217,800 units, a year-on-year increase of +169%/+8%, of whichNew energy passenger car9,529 vehicles were exported, a month-on-month increase of 23%, exceeding market expectations.
From January to October 2022, the cumulative sales volume was 1,397,900 units, a year-on-year increase of 234%; the October output was 220,100 units, +170%/+7% year-on-year, and the cumulative output from January to October 2022 was 1,411.17 units 10,000 vehicles, a year-on-year increase of 234%. Ocean Network’s pure electric models and Ocean Warship series frigate 07 are expected to contribute to the increase in the launch in Q4. The total sales volume in Q4 is expected to exceed 700,000 units. It is estimated that BYD’s electric vehicle sales will exceed 1.9 million units in 2022, an increase of more than two times.
new energypassenger carYear-on-year increase in sales
According to the data, the sales volume of BYD’s new energy passenger vehicles in October was 218,000 units, a year-on-year increase of +172%/+8%.
The output in October was 219,800 units, a year-on-year increase of +173%/+7%, and the cumulative output from January to October 2022 was 1.406 million units, a year-on-year increase of 239%.new energy
commercial vehicleThe production and sales volume in October was 298 units, a year-on-year -71%/+4%, and the cumulative production and sales volume from January to October 2022 was 5,031 units, a cumulative year-on-year -36%.
Both plug-in hybrid and pure electric models have grown strongly
In October, BYD’s sales of plug-in hybrid passenger vehicles were 114,400 units, +195%/+8% year-on-year, accounting for 53%, an increase of 4pct year-on-year, and the same month-on-month. The cumulative sales volume from January to October 2022 was 707,600 units. , a cumulative year-on-year increase of 284%.
The sales volume of pure electric passenger vehicles was 103,200 units, +150%/+9% year-on-year, accounting for 47%, down 4pct year-on-year, and flat month-on-month. The cumulative sales volume from January to October 2022 was 685,300 units, a year-on-year increase. 203%.
Han DM and Song DM series increased year-on-year
The Han family sold 3.16 units in October, a year-on-year increase of +185%, a slight increase of 0.4% month-on-month. The cumulative sales volume from January to October was 212,200 units, a cumulative year-on-year increase of 133%, of which the Han DM series increased by 554% in October. ;
The Tang family sold 17,200 units in October, +150%/+14% year-on-year, and the cumulative sales volume from January to October was 110,600 units, a year-on-year increase of 198%, of which Tang DM increased by 111%;
The Song family sold 56,800 units in October, +144%/+22% year-on-year, and the cumulative sales from January to October was 347,400 units, a cumulative year-on-year increase of 120%, of which Song DM increased by 334%;
The Qin family sold 34,700 units in October, a year-on-year increase of +25% and a month-on-month -12%, and a cumulative sales of 294,500 units from January to October, a cumulative year-on-year increase of 113%;
The Yuan family sold 27,500 units in October, an increase of 17% month-on-month. From January to October, the cumulative sales volume was 170,200 units, of which Yuan PLUS increased by 19%.
New models are gradually increasing. The destroyer 05 launched in March sold 9,111 units in October, up 0.1% from the previous month; Dolphin sold 25,336 units in October, up 2% from the previous month; and Seal sold 11,267 units in October, up 51% from the previous month.
Accelerating the layout of overseas markets and contributing to the increase in exports
Product planning in 2023: Dynasty network models will be streamlined and improved, and the two series of marine network creatures + warships will be further enriched; Denza and new high-end brand new models are expected to be released.
In addition, the company actively promotes the overseas market layout. In August, BYD officially entered the Japanese passenger car market, debuting three models of ATTO3, SEAL and DOLPHIN, which are expected to be released in 2023. At the same time, pure electric buses have officially entered Indonesia, Mauritius and other countries.
The heavy volume in overseas markets will further help the company’s sales growth.Expected by BYD in 2023new energy vehicleThe sales volume exceeded 3 million, an increase of nearly 60%, of which the export volume is expected to exceed 300,000.
Battery installed capacity and shipments are expected to more than double
According to the BYD Production and Sales Express, in October 2022, the power andenergy storageThe battery installed capacity was 10.19GWh, +124%/+18% year-on-year; the cumulative installed capacity from January to October was 68GWh, a year-on-year increase of 142%.
With the opening of external supply and the explosion of energy storage release, we expect BYD’s battery output in 2022 to be 80GWh+, more than doubling year-on-year, of which energy storage is expected to contribute 10GWh, doubling year-on-year, mainly benefiting from European household storage and global large power station projects.
blade batteryThe production capacity was released smoothly, and the external supply of batteries was accelerated. The company’s blade batteries have significant advantages. After the second-generation blades are grouped together, the energy density reaches 150Wh/kg. It is expected that the energy density will be greater than 180Wh/kg in 2025. The entire BYD pure electric series has been replaced with blade batteries.
The company’s battery production capacity is expanding rapidly. With the successive production of bases in Yancheng, Jinan, Wuwei, etc., the company’s battery production capacity is expected to be 160gwh by the end of 2022, and the domestic production capacity is expected to be put into production by 100gwh in 2023, and the production capacity by the end of the year is expected to reach 260gwh. In addition, the company has accelerated the opening of its power business, and has successfully supplied a pure electric vehicle from Changan, two plug-in models from Jinkang, a plug-in model from BAIC and a number of special vehicles.
At the same time, the cooperation with major customers in North America is smooth, and the follow-up volume can be expected; BYD Toyota Electric Vehicle Technology Co., Ltd. is established with Toyota to increase cooperation in the field of new energy passenger vehicles, and a strategic business alliance agreement is signed with Hino Auto Co., Ltd. to be established. The joint venture will jointly develop pure electric commercial vehicles and electric vehicle parts, and it is expected that the company will achieve further breakthroughs in overseas customers.
Original title: BYD’s annual sales of electric vehicles are expected to exceed 1.9 million, and the production capacity of the second-generation blade battery has been released smoothly