BAIC BJEV will increase RMB 3b funds for R&D and develop six new models each year

Gasgoo.com (Shanghai June 24^th)– BAIC BJEV completed the delivery of 20,000 units’ alternative energy vehicles in 2015, ranking first in China and fourth in the world in terms of BEV sales volume. Reporters got official news that the company has completed the increase of RMB 3b funds, which will be used for supporting domestic company operation and the construction of overseas R&D bases. It will strive to achieve the launching of six new models every year.

BAIC BJEV will construct another two R&D centers in Italy and Japan, to lift the interior and exterior design capabilities and the design capability of micro-size vehicles, such as EX Concept vehicle.

Based on the global R&D resource strengths, BAIC BJEV will develop four to six new models each year, making a complete alternative energy vehicle product package containing ranges of 200KM, 300KM, and 400KM, and levels of high-end, medium-end and standard, and sizes of large, medium and small, thus providing more choices for consumers.

BAIC BJEV released a “Humming Bird Plan” on the auto show this April. The plan is its key technology strategy for the future ten years. In the future, BAIC BJEV will apply four key technologies, including “e-Motion Design”, “e-Motion Drive”, “LighTech” and “i-Link” to its new production platform.

BAIC BJEV also releases a new brand called “ARCFOX”, combined with two words “Arctic” and “Fox”, stressing the love for the pure Arctic land and the nature of challenging itself and pursuing speed limit. The brand uses a “V”-shape logo to express the characteristics of super BEV sports cars. BAIC BJEV launched two products this April, ARCFOX-1 and ARCFOC-7, the former of which is positioned as an entry-level model and the latter of which is positioned as a super BEV sports car.

BAIC BJEV sells 20,000 units vehicles in 2015, and the 2016 target is set as 60,000 units. According to the “13th-five” plan, the production and sales volume will reach 500,000 units in 2020 and 800,000 units at the end of “13th-five” period, with an annual revenue of RMB 60b and market value of RMB 100b, producing 3 models with sales volume exceeding 100,000 units per year.