BAIC BJEV’s Jan.-Apr. sales tumble 56.43% year on year

Shanghai (Gasgoo)- BAIC BJEV, the electric vehicle (EV) unit of BAIC Group, sold 1,028 new vehicles in April 2021, posting a year-on-year surge of 75.4%. However, its year-to-date sales plunged 56.43% from the previous year to 4,177 units, according to the monthly sales results released by the parent company BAIC BluePark New Energy Technology Co.,Ltd.

Photo credit: BAIC BJEV

The decrease in vehicle sales volume has brought down BAIC BJEV's income. BAIC BluePark gained 830.324 million yuan ($128.894 million) in the revenue for the first quarter of 2021, posting a 50.19% decrease over a year earlier. The company said the decline was mainly attributable to the sales decrease for the same period. For the Jan.-Mar. period, BAIC BJEV saw its new vehicle sales plummet 65.01% to 3,149 units. Besides, BAIC BluePark also announced a net loss of 853.839 million yuan ($132.545 million) attributable to shareholders for the same period.

BAIC BluePark is attaching great importance to the development of the premium brand ARCFOX. The company stated in January it intended to raise not less than 5.5 billion yuan ($853.785 million) by issuing stocks to 35 specific objects at most. The proceeds would be mainly used to develop ARCFOX-branded upscale models and battery swapping business system, improve 5G-enabled intelligent-connected system, as well as supplement working capital.

The brand's second mass-produced model, the ARCFOX αS, hit the market on April 17, coming with four trim levels and two “HI” variants co-developed with Huawei. The “HI” version is the first car to get Huawei “HI” full-stack intelligent vehicle solution, which contains Harmony OS, LiDAR device, and 5G connectivity technology.