BAIC BluePark H1 net loss narrows

Beijing (Gasgoo)- Net loss of BAIC BluePark New Energy Technology Co.,Ltd., the parent company of BAIC BJEV, for the first half narrowed slightly, and it plans to expand its channels and network in the second half of this year, the company said in its latest financial results report.

According to the report, the company's revenue declined 21.69% year on year to RMB2.437 billion in the reporting period. Its vehicle sales revenue was RMB1.548 billion, 430 million less than that of the same period of last year while the revenue of fleet operation decreased by 3 million to RMB63.23 million.

In the first two quarters of 2021, the company's net loss saw a decline comparing to the same period of last year. According to the financial report, the net loss attributable to the shareholders of its listed company dropped from RMB1.883 billion to RMB1.813 billion.

Arcfox  αS HI, photo credit: Arcfox

Last month, the company made 350 vehicles, up by 10.1% versus the previous month but down by 68.8% year on year. Its monthly sales surged 120.3% month on month to 3,491 vehicles and jumped 73.8% year on year. Arcfox— the premium brand of BAIC BJEV delivered 525 new vehicles, representing an increase of 90% in sales versus the previous month.

The report indicates BAIC BJEV plans to focus on promoting its high-end EV brand Arcfox and building its channels for the rest of this fiscal year. As to the sales channel, the company will adopt both direct and distribution sales model, and build showrooms in urban areas as well as delivery centers.

As to product development, BAIC BJEV will partner up with HUAWEI in progressing their laser-radar equipped N61 HBT model, while assuring the progress of the αS HI can be on-time without sacrificing its quality. According to Acrfox's previous plan, the αS HI (equipped with HUAWEI's full-stack autonomous driving solution) will be delivered in small volume in the last quarter of this year.