Beijing (ZXZC)- BAIC Bluepark, the parent company of BAIC BJEV celebrated a lucrative first quarter in 2022, with substantial growth in revenue compared to a year ago, according to its financial report released on April 27th.

Photo credit: ARCFOX

From January to March, BAIC Bluepark brought in RMB1.731 billion ($262.21 million) in revenue, soaring 108.42% year over year. The company attributed the blooming numbers to its advancement in branding, product portfolio, and distribution channel expansion. In the meantime, the company has further optimized its asset structure. By the end of the first quarter, BAIC Bluepark’s inventory was reduced by 30% to RMB870 million ($131.79 million). 

BAIC Bluepark sold 9,120 vehicles in the first three months of 2022, skyrocketing 189.62% from a year ago. Its sales volume in March reached 5,735 vehicles, representing an outstanding 438.5% year-on-year growth. 

By the end of March, the company’s high-end electric vehicle brand ARCFOX has established 105 retail stores in China and plans to raise the number to 150 by the end of June, and 186 by the end of 2022. 

In addition, ARCFOX now has 82 authorized service centers in 56 Chinese cities. The brand has formed a charging network of 4 supercharging stations, 2 destination charging stations, 14 mobile supercharging service vehicles, and 1,289 authenticated charging stations in 40 cities.