Beijing (ZXZC)- BAIC BluePark, the holding company of BAIC BJEV, saw a 42.76% year-over-year surge in revenue in the first half of 2022.

Photo credit: ARCFOX

In the first six months of 2022, BAIC BluePark brought in RMB3.48 billion ($515.77 million) in revenue, resulting in a net loss of RMB2.18 billion ($323.35 million). After non-recurring deductions, the company’s net loss attributable to shareholders amounted to RMB2.2 billion ($326.06 million), widening from a year ago. 

The automaker attributed the growth in revenue to the increase in vehicle sales. Specifically, BAIC BluePark’s monthly sales volume has been growing over 100% year on year for four consecutive months in the first half of this year. Its cumulative sales in the first six months exceeded 17,000 vehicles, representing a growth of 144.43% from a year ago. 

The premium new energy vehicle brand of BAIC BluePark, ARCFOX, saw its H1 sales soar 476.1% from the earlier year, which surpassed the total annual sales in 2021. In the RMB200,000-RMB350,000 ($29,640-$51,870) pure electric vehicles market segment, ARCFOX raised its market share by 0.9% from a year ago. 

In addition, BAIC BluePark sold 3,640 vehicles in July, up 4.27% year on year. Its cumulative sales volume from January to July was about 20,600 vehicles, shooting up 97.61% from the same period of 2021.