Shanghai (ZXZC)- BAIC Group sold 2.402 million vehicles throughout 2018, the automaker announced in recent days. Besides, it earned RMB480.74 billion in annual revenues with a year-on-year growth of 2.2% and RMB30.13 billion in full-year net profits, an increase of 7.3%.

Apart from the sales and profit performance, ZXZC hereby summarizes the automaker's significant events that happened in 2018, helping you review what progresses the automaker made during the past year.

DNRC permits Daimler to acquire stake in BAIC BJEV

The National Development and Reform Commission (NDRC) released a reply on Feb. 7, permitting Daimler Greater China Ltd. to acquire a certain stake of BAIC BJEV owned by Shenzhen Jinggangshan New Energy Investment Management Co., Ltd. 

To prevent the state-owned assets from loss, stake transfer must be conducted in accordance with some relevant regulations. After the stake transfer, Chinese party should take up no less than 50% of the stake in BAIC BJEV.

BAIC, Daimler invest RMB 11.9 billion for production expansion

On February 25, BAIC Motor revealed its latest investment cooperation with the German automaker.

BAIC and Daimler planned to invest over RMB 11.9 billion (about 1.5 million euros) to expand the local production scale of Mercedes-Benz passenger vehicles and meet the demands of the largest auto market in the world. The announcement said that the money would be used for the establishment of Beijing Benz's new factory to produce several Mercedes-Benz models, including the electric models.

BAIC BJEV sets up new company to expand production of electric powertrains

BIAC BJEV planned to establish a subsidiary dubbed Blue Valley Power Company at its existing production base in Caiyu, Beijing, Beijing Municipal Environmental Protection Bureau said in late February. The first phase of the new power company would achieve an annual production capacity of 100,000 sets of electric vehicle driving system. After it finished construction, the new power company would provide power for the second-gen Senova D70, D50 and X55.

With deliveries of 103,199 units in 2017, BAIC BJEV led the pack in the pure electric vehicle segment for five consecutive years, up 97% over the previous year. To meet the increasing market demands, BAIC BJEV not only built a production base in Beijing, but also cooperated with Changzhou, Laixi city of Qiangdao, Shandong Province and Kunming to set up new NEV production bases.

Didi, BAIC Group sign strategic agreement to promote carsharing operation

On March 7th, Didi, a China's ride-hailing giant, announced that it signed a strategic cooperation agreement with the state-owned automaker BAIC Group to jointly extend businesses in such areas as operation of new energy vehicle (NEV), application of big data, mobility service and tailored vehicle and electric charging, etc.

Didi would wield its technology and big data advantages in mobile travelling realm to help automakers obtain large-scale and refined operation capabilities in ridesharing area.

BAIC, Magna sign strategic agreement on developing new-gen intelligent BEV models

On Apr. 8, in the presence of both Chinese and Austrian governmental leaders, BAIC Group and Magna signed a strategic cooperation agreement, saying both parties would make a commitment to developing new-gen intelligent pure electric vehicle models.

This was the first cooperation project between Magna and BAIC Group in electric vehicle area. The move also indicated that Magna achieved great progress for its strategy in China. Guenther Apfalter, president of Magna International Europe AG stated that it was a great honor for Magna to jointly develop new-gen advanced and intelligent pure electric vehicle models with BAIC Group.

BAIC Motor launches new brand strategy, teams up with Tencent

BAIC Motor launched its all-new brand strategy named “new driving enjoyment ecosystem” on April 23. Meanwhile, the company signed cooperation agreements with Tencent, Peking University, J.D.Power, Modernsky and BAIC Mobility as its first batch of eco-partners.

In addition, BAIC Motor showcased three mass-produced models at the strategy launching ceremony, including the new-generation BAIC Senova X55, BJ40 PLUS and BJ80 EVERST, which were all expected to go on sale this year and unveiled the all-new concept model OFFSPACE SUIT as well.

Singulato teams up with BAIC BJEV to develop intelligent vehicles, announces RMB 3 billion C-round funding

At Auto China 2018 on Apr. 25, Singulato Motor announced that it would conduct overall strategic cooperation with BAIC BJEV in technology development, construction of battery charging and swapping facility, sharing of dealership network and manufacturing resources. 

BAIC Huansu releases new brand strategy at Auto China 2018

On Apr. 25, BAIC Huansu, a four-year Chinese self-owned vehicle brand, showcased two new models at Auto China 2018 and also grandly released its new brand strategy in Beijing.

As consumption upgraded, BAIC Huansu put forward a new-era strategy based on its own development and upgrades, insisting on intelligent new energy strategy under the concept of double-V strategy to improve its competitiveness in PV and NEV markets.

BAIC BJEV launches Darwin System at Auto China 2018

BAIC BJEV launched the vehicle artificial intelligent (AI) system, Darwin System, at Auto China 2018 on Apr. 25. The premium system not only can liberate and please human, but also can be self-developed. Besides, the EU5 equipped with the Darwin System started presale with price range between RMB 129,900 and RMB 161,900, after eliminating the NEV subsidies.

The Darwin System is a self-learning system, which can conduct deep self-learning to meet customers' demands. It even can provide considerate services for customers. For instance, the premium system enables the air conditioning system to be automatically turned on before the car owners or passengers enter into the car. What's more, the intelligent cabin system which can realize various application scenarios will be deployed in all the models to be launched during 2018 and 2020.

Beijing gives green light to BAIC BJEV autonomous driving road tests

BAIC BJEV announced that the company had received Beijing's license to conduct road tests for its autonomous vehicle the LITE on April 26. Along with the Chinese EV (electric vehicle) startup NIO, BAIC BJEV was also included in the first batch of automakers that obtained Beijing's road test license.

At Auto China 2018 in Beijing, BAIC BJEV unveiled its AI (artificial intelligence) vehicle system dubbed “Darwin System” on which the AI sedan EU5 based. Meanwhile, the autonomous model LITE was also showcased at the same time.

BAIC BJEV approved to be listed on stock market in June or July by back-door listing

On June 1, SST Qianfeng announced that it had been approved by China Security Regulatory Commission to issue stock shares to acquire 100% stake of BAIC BJEV. This signified that BAIC BJEV's back-door listing had been approved by China Security Regulatory Commission, and would be China's first listed pure electric vehicle maker soon.

According to the approved files, SST Qianfeng would replace its whole assets and debts to BAIC BJEV, issue stock shares to buy 100% stake of BAIC BJEV, and raise supporting funds worth of RMB 2 billion. Specifically, BAIC BJEV would inject RMB 28.85 billion in SST Qianfeng. After exempting the RMB 187 million worth of SST Qianfeng's total assets and debts, BAIC BJEV only needs to inject RMB 28.669 billion to SST Qianfeng. SST Qianfeng would issue 761 million shares with each share of RMB 37.66 to 35 BAIC BJEV's shareholders, including BAIC Group.

SST Qiangfeng changes name, new progress for BAIC BJEV to be listed on A-share market

On June 12, SST Qianfeng had officially changed its name as BeiJing QianFeng Electronic Co.Ltd and settled in “China Blue Valley” (“Lan Gu" in Chinese) of Beijing Economic Technological Development Area, where the BAIC BJEV headquarters. At the same time, relevant procedures like the changing of company's name, registered address and business scope have already been approved by governmental departments.

BAIC, Magna plan to form new JV to build premium intelligent electric vehicles

BAIC BJEV and Canada auto parts supplier Magna signed a cooperation agreement on June 18 in Nanjing, saying that both parties plan to establish two new joint ventures to build open and sharing R&D and manufacturing centers of intelligent premium electric vehicles.

According to the agreement, both parties would jointly set up joint ventures to conduct R&D on premium and intelligent electric vehicle sharing platform, customize vehicles based on customers' demands, and provide engineering services of new energy vehicles (NEV). In the meantime, both parties negotiated to carry out intelligent transformation and upgrading on the existing BAIC manufacturing facility in Zhenjiang, Jiangsu Province to manufacture high-end intelligent electric vehicles. Moreover, models from ARCFOX, BAIC BJEV's high-end vehicle brand, would be manufactured first in the plant.

BAIC, Brilliance cooperate in NEV and car-hailing fields

BAIC Group and Brilliance Auto Group signed a strategic cooperation framework agreement at the 10th APEC Small & Medium Enterprises Technology Conference and Fair on June 27.

In accordance with the agreement, BAIC and Brilliance would cooperate in such areas as new-energy official vehicles, taxies, ride-hailing cars, private cars, express logistics vehicles and car sharing, to jointly promote the popularization of new energy vehicles (NEV) in Shenyang and other Northeastern cities, and further expand their businesses to the whole Chinese market.

BAIC BJEV launches new business mode to separate values of EVs, batteries

On July 5, BAIC BJEV officially launched a private market-oriented new business mode that separates batteries value from the value of electric vehicles (EV). The business mode was considered as a big move of China's NEV industry in sharing economy area. Compared with fuel-powered vehicles, the business mode that separates batteries value from EV value boasts great cost advantages.

Under the business mode of separating batteries value from EV value, battery management companies will repurchase the property rights of batteries and consumers can use the batteries by leasing, after consumers bought the pure electric vehicles.

BAIC Group, Great Wall Motor forge partnership, said to share auto parts resources

BAIC Group and Great Wall Motor inked a strategic cooperation agreement on August 7. The two automakers were going to forge an in-depth partnership in various areas like sharing auto parts resources.

In May, a source revealed that Xu Heyi, chairman of BAIC Group, visited Great Wall Motor's headquarters in Baoding, Heibei province and its assembly plant in Xushui District in the company of Wei Jianjun, who chairs Great Wall Motor. It was said that the aim of Xu's visit was to facilitate BAIC Group's purchase of engines and gearboxes from Great Wall Motor.

New BAIC EC 3 officially launched, priced from RMB 65,800

On August 31, BAIC BJEV, the electric vehicle unit of BAIC Group, officially launched the EC 3, an economic battery electric vehicle at the Chengdu Motor Show 2018. With a range of 261 kilometers, the EC3 offers two variants, priced from RMB 65,800 after subsidies.

CATL supplies power battery for the model, paired with the battery management system and charging technologies developed by BAIC BJEV itself. The model can be started and charged normally at minus 30 degrees Celsius.

BAIC BJEV goes public in Shanghai

BAIC BJEV saw its A shares listed on Shanghai stock market on September 27 through a back-door listing, making it China's first publicly-listed NEV maker.

BAIC BluePark New Energy Technology Co.,Ltd, the shell company for BAIC BJEV going public, announced on September 25 that its stock short name would be changed to “BAIC BluePark” from “S BluePark” with the stock code “600733” remaining unchanged. The decision came into effect on September 27.

BAIC BJEV announces mid-long term technology development planning

On October 18, BAIC BJEV announced its 2025 mid-long term technology development planning and also elaborated on its artificial intelligence auto system, the Darwin System.

Under the plan, 3 platforms would cover the automaker's product line by 2021. In battery system, BAIC BJEV would promote the development of battery platform in line with the complete vehicle platform and planned to finish the matching between complete vehicle platform and battery pack.

The company planned to increase the battery density to 350Wh/kg by 2025 and the battery is expected to be charged to 80% in 10 minutes. In autonomous vehicle segment, BAIC BJEV aimed to launch L2.5 autonomous vehicles by 2022 and L4 vehicles by 2025. 

BAIC Group allies with 12 companies to develop ICV busiensses

BAIC Group inked strategic cooperation agreements with 12 companies at the closing ceremony of the World Autonomous Vehicle Ecosystem Conference on October 21 to jointly develop intelligent-connected vehicle (ICV) businesses. Partners involve such companies as ZF Group, Bosch, Hella, Panasonic, iFlytek and Baidu, etc.

Under the newly-signed agreements, BAIC Group and 12 partners would extend in-depth cooperation on autonomous driving, IoV (Internet of Vehicles) service and operation system, human-vehicle interaction, speech-based intelligence, cloud platform, the optimization of mobility services and customers' experience.

BAIC Group sets up IT joint venture with four subsidiaries

BAIC Group, BAIC Motor Corporation Limited (BAIC Motor), BAIC BJEV, BAIC ROCAR and BAIC Mobility agreed to build a joint venture focusing on IT (information technology) businesses, according to an announcement released by BAIC Motor on October 30. The new joint venture (JV) was said to be named BAIC BluePark Information Technology Co.,Ltd.

Under the agreement, the registered capital for the new JV would be RMB330 million in total. The parent company BAIC Group would take a 39.4% stake in the JV with a contribution of RMB130 million. The remaining RMB200 million registered capital should be equally devoted by the four subsidiaries. 

BAIC BJEV, Huawei cement partnership for next-generation ICV

On November 5, BAIC BJEV and Huawei inked a cooperation framework agreement in Beijing that cements the partnership between two companies. The new agreement said Huawei would offer its advantage on ICT (Information Communications Technology) to help the EV maker build its next-generation intelligent-connected EVs.

Both parties previously formed the partnership on September 27, 2017 to jointly work on technology R&D and product innovation, involving such areas as cloud computing, IoV (Internet of Vehicles) and energy network, etc. The newly-agreed cooperation would allow them to make joint layouts in industrial Internet, intelligent park as well as ICT infrastructures, etc.

BAIC Group, Suning.com agree cooperation on smart automobile retail

BAIC Group and Suning.com, a Chinese leading online-to-offline smart retail company owned by Suning Holdings Group Co. Ltd, reached a consensus on cooperation of smart automobile retail during Suning Holdings chairman Zhang Jindong's visit to the automaker's headquarters on November 26, according to BAIC BJEV's official WeChat account.

According to the agreement, BAIC Group's Beijing Benz, Beijing Hyundai, Foton Motor and BAIC BJEV will involve the collaboration with Suning.com.

BAIC BJEV, ROHM Semiconductor jointly build SiC-focused lab

On November 30, BAIC BJEV inked an agreement with ROHM Semiconductor, a Japanese electronic parts manufacturer for a joint laboratory that focuses on SiC (silicon carbide)-related products and technologies. The joint lab was unveiling at the same time.

The building of the joint lab can be regarded as part of efforts for BAIC BJEV to fortify the strength of technology independent development. Using the lab, the EV maker will make pre-research over new technologies like SiC and be devoted to developing relevant new products together with its Japanese partner.

BAIC Mobility upgrades car-sharing business by integrating another BAIC-owned mobility brand

BAIC Group announced on December 26 that the hourly car rental business operated by its new energy car-sharing platform QingXiang Technology had been formally integrated into MOREFUN, a car sharing platform of BAIC Mobility.

BAIC Group possesses several mobility service brands like BJ. TRAVEL, BAIC Mobility, GreenGo and QingXiang. All of them were initially built for some specific purpose. For instant, BJ. TRAVEL was founded to reform governmental mobility service system and QingXiang was launched to cultivate users' acceptance over new energy vehicles (NEVs) and unlock the sales channels of NEV market.