Recently, BAIC Blue Valley announced that its subsidiary Beijing New Energy Vehicle Co., Ltd.(referred to as “BAIC New Energy”) will move its production base to No.
188 Xitong Road, Miyun District, Beijing City.
This change means that BAIC New Energy’s production capacity will be significantly reduced, from the original 320,000 vehicles to 120,000 vehicles.
The move was interpreted by the outside world as a major strategic adjustment adopted by the company to respond to market challenges.
, As one of the leading domestic pure electric vehicle manufacturers, BAIC New Energy has been committed to the research and development, design, production and sales services of pure electric passenger vehicles, and is actively promoting its brands such as Jihu and Beijing Automobile.
However, although the company has multiple factories in Zhuzhou, Hunan, Zhenjiang, Jiangsu, Guangzhou, Guangdong and other places, due to poor sales in recent years, its annual capacity utilization rate is less than 30%.
According to statistics, as of the first eight months of this year, BAIC Blue Valley’s cumulative sales were only 52,000 units.
Although it increased by 12% compared with the same period last year, it is expected that the annual sales will still be difficult to exceed the 100,000 units mark.
Faced with sluggish sales and increased operating pressure, BAIC New Energy decided to cut production capacity to reduce costs and optimize resource allocation.
At the same time, the company is also facing financial difficulties.
According to financial report data for the first half of 2024, BAIC Blue Valley’s operating income was 3.
741 billion yuan, a decrease of 35.
16% compared with the same period last year.
the net loss attributable to owners of the parent company reached 2.
571 billion yuan, further expanding from 1.
979 billion yuan in the same period last year.
In order to alleviate the current difficulties, BAIC Blue Valley has taken a series of measures.
First, Beijing Automobile, the company’s major shareholder, plans to increase capital by RMB 2 billion to BAIC New Energy to enhance its financial strength.
In addition, BAIC New Energy also plans to introduce strategic investors to increase capital and shares through public listing.
The capital increase is expected to not exceed 10 billion yuan.
These measures aim to enhance corporate competitiveness, improve financial conditions, and lay a solid foundation for future development.
, With the implementation of the above-mentioned series of adjustment measures, BAIC New Energy is trying to reposition itself and find new breakthroughs in the fierce market competition.
However, whether the transformation can be successfully achieved and the situation will still take time to verify.
In this process, BAIC New Energy will continue to face many challenges, including how to improve product competitiveness, strengthen brand building and optimize operational efficiency.
, return to the first electric network home page>,.
