New energy smart car
At present, the automobile industry of Beijing Economic-Technological Development Zone (hereinafter referred to as the BDA) has focused equally on the industrial development pattern of traditional high-end brand passenger cars and new energy electric vehicles. It has formed a 100 billion yuan level industrial cluster, with Beijing Benz Automotive Co and BAIC BJEV being the leading companies, covering high-end links such as R&D and design, vehicle manufacturing, core parts manufacturing, certification testing and service trade. Relying on key enterprises such as BAIC BJEV, Broad-Ocean, and Pride Power, it has formed an industrial chain covering the whole vehicle, electric drive engineering and battery engineering.
The development goal of the automobile industry in the BDA is to enhance industrial development and technological innovation, as well as to build a global energy and smart network. Through the development of the new energy and development network of the BDA, the automobile industry will create the ecological growth pole for Beijing and strengthen BDA’s high-grade, precision and advanced main industrial strategic positioning.
Electrification, enhancing smart technology, networking, and sharing are the development trends of the automotive industry. Currently, new energy vehicles are developing rapidly, yet the market share is still low.
The BDA boasts a new energy and smart network in the automotive industry including the following sectors: manufacturing, including BBAC, BAIC, and Lear; R&D design, including vehicle testing centers and IAT; and a public service platform, including CICV, National New Energy Vehicle Technology Innovation Center, and Beijing Innovation Center for Mobility Intelligent.
In 2013, E-Town Capital Investment Committee loaned 1 billion yuan ($148 million) to support the construction of Mercedes-Benz’s second factory. In 2014, E-Town Capital invested $100 million as a cornerstone investor and participated in the BAIC Hong Kong IPO. 70 percent of the funds raised were earmarked for the development of passenger car production and engine plant construction in the BDA.
At the end of 2015, BBAC sold more than 250,000 vehicles annually, a year-on-year increase of 70 percent. It became Daimler’s largest manufacturing base for Mercedes-Benz passenger cars.
In 2016, the overall growth rate of the automobile market slowed down, although BBAC’s sales volume continued to grow with the annual output exceeding 300,000 for the first time, a year-on-year increase of more than 30 percent.
In 2017, BAIC Motor achieved a breakthrough in local development and achieved a sales volume of 1.466 million vehicles throughout the year. Among them, BBAC’s sales volume increased by 33.3 percent year-on-year in 2017, with an annual output of 430,000 units and a sales volume of 423,000 units.