On October 17, Chinese new energy vehicle manufacturer BYD debuted three electric vehicles, Tang, Han and Yuan PLUS (named BYD ATTO 3 in overseas markets), at the Paris Auto Show. Shell, an international energy giant, also participated in the event and announced that it would provide BYD’s European vehicle owners with a better charging experience by opening up to them the right to use about 300,000 of the company’s charging piles all throughout continental Europe.
In March this year, BYD and Shell signed a global strategic cooperation agreement. The two sides would first start working together in China and Europe, and planned to expand this relationship to the rest of the world.
Both sides will jointly develop fleet solutions and exclusive charging services for BYD customers in Europe. In addition, the deal will provide customers around the world with integrated home energy solutions such as a dynamic electricity pricing scheme, photovoltaic integration, home-use energy storage equipment and vehicle-to-grid (V2G) charging solutions.
Globally, Shell will study how to apply technologies and products such as the company’s E-Fluids and coolant products to help BYD further save costs and improve hardware performance.
In addition to this, BYD and Shell plan to set up a joint venture to develop an electric vehicle charging network within China. The joint venture is expected to operate more than 10,000 EV charging devices in Shenzhen, Guangdong Province, with plans to expand to other cities in China.
In April, BYD’s sales volumes increased substantially, exceeding 100,000 vehicles for four consecutive months from March, even after the company said it would cease producing traditional fuel vehicles. From January to September this year, the cumulative sales volume of BYD’s new energy passenger cars reached 1.175 million. In the sales list of passenger car manufacturers released by the China Passenger Car Association, BYD has become the sales champion with a market share of 9.9% in September.
While continuing to deepen the domestic market, BYD has also made further efforts in overseas markets this year. At the end of September, it held a launch event for its new energy passenger cars in Europe, including the three models mentioned, and started delivery in many European countries, including Norway, Denmark, Sweden, the Netherlands, Belgium, Germany and other countries. Before the end of this year, the company will enter the French and British markets.
On the evening of October 17, BYD released its performance forecast for the first three quarters of 2022. During that time, the company’s estimated net profit was 9.1 billion-9.5 billion yuan ($1.26 billion – $1.32 billion), a year-on-year increase of 272.48%-288.85%. The net profit after deducting non-recurring gains and losses was 8.1 billion-8.8 billion yuan, up 813.80%-892.77% year-on-year.