Daimler's stake in BAIC New Energy is betting on China's new energy market
[Introduction]: Foreign auto giants have laid out the new energy vehicle market, and the Chinese market has become the focus of competition. Not long ago, Daimler bought shares in BAIC New Energy and gambled on the Chinese market. However, the new energy market competition has no advantage.
Daimler made a trident of BAIC New Energy, Tengshi and Mercedes-Benz EQ series of new energy vehicles, but still faced strong competition from old rivals BMW and Audi.
While Daimler's "emission gate" fine of tens of billions of euros was still hanging above its head, it resolutely followed the example of the public and bet the future of the company on China's new energy car market.
Recently, BYD officially announced that its holding subsidiary, BYD Automotive, will increase its investment in joint venture brand Tenergy New Energy by RMB 400 million. At the same time, Daimler Greater China Investment Co., Ltd., another shareholder of Tenshi New Energy, also increased its capital by 400 million yuan. This is only one year after BYD and Daimler jointly increased their capital to Tengshi by RMB 1 billion in May last year. In addition, on May 12, Beijing Benz's strategic restructuring project was officially signed in Shunyi, with a total investment of 11.9 billion yuan.
However, there are rumors in the industry that due to battery shortages and other technical issues, Daimler Group's plan to launch electric vehicles is facing delays. Although Daimler later rumors, but what is certain is that its new EQC electric mid-size SUV has not yet been determined when it will be launched.
However, unlike BMW ’s decision to deliver MINI ’s electrified transformation to Great Wall Motors, Mercedes-Benz ’s most promising brand of fully electrified SMART is placed in the 2020 new energy transformation plan. It has not been found well in China until today. Landing point. How can Daimler fight this new energy market battle?
Accelerate the layout in China
In June 2017, BAIC Group and Daimler signed a new energy strategic cooperation framework agreement. According to the agreement, both parties will introduce Daimler's new energy vehicle products to Beijing Benz. In addition, Daimler will also strategically invest in Beijing New Energy Automobile Co., Ltd., a subsidiary of BAIC Group, to strengthen cooperation in the field of new energy vehicles. Just one month after the signing of this agreement, in July, BAIC Group and Daimler signed a new framework agreement. The two parties jointly invested 5 billion yuan to establish a pure electric vehicle production base and power battery factory in Beijing Benz and introduce Benz. Brand of pure electric vehicle products. As of this year, the strategic cooperation between Daimler and BAIC has gone through 12 years, and the two parties have continuously expanded their cooperation business areas, especially in the field of new energy vehicles.
Daimler's new energy layout in China actually proceeded very early. In 2010, Daimler signed a memorandum with BYD, the world's new energy sales champion, to jointly establish Tengshi New Energy Automobile Company, which is also the first in China. A new energy joint venture car company, both parties are determined to build the best electric vehicles in China with consumer demand as the center. In 2014, Tengshi's first high-end pure electric vehicle mass production vehicle officially entered the market. At the beginning of this year, Daimler "hand in hand" with Geely. Geely Holding Group purchased Daimler's shares through the secondary market, and the proportion was as high as 9.69%. With Geely's involvement, Daimler's new energy business in China How to further expand it also attracts much attention.
At present, China has become the world's largest new energy market, and multinational auto companies have started a wave of joint ventures, hoping to remain invincible in new fields. Zhang Zhiyong, a senior analyst in the automotive industry, told the Times reporter that whether it is a joint venture with BAIC and BYD, or a new cooperation with Geely, it can be said that Daimler is looking for a "shortcut" to develop new energy in China. The gap between luxury car companies is getting smaller and smaller, and competition is getting fiercer. Seizing opportunities in the field of new energy has become a key link for future sustainable development.
New energy strategy is not effective
Daimler deployed new energy vehicles earlier in the Chinese market. Tengshi Automobile, which has Daimler's heritage and BYD battery technology, has been dismal in the market in recent years.
In March 2018, Tengshi 500 went on the market, and sales in that month were zero. Only 287 units were sold in April, which has dropped 41% year-on-year.
Zhang Zhiyong believes that Tengshi has only launched one model in 8 years. In addition to Roewe REX5, BYD Song EV400, Geely Emgrand EV450, which are competitors from traditional car manufacturers, there are a large number of later models such as Weimar EX5, Weilai ES8, etc. 'S competitors, Teng Shi caught in it, unable to show the advantages of luxury brands.
In fact, Daimler's other hand is still holding BAIC. Not long ago, the National Development and Reform Commission issued a "Response Letter to Daimler Greater China Investment Co., Ltd. to increase its capital into Beijing New Energy Automobile Co., Ltd.", agreeing to Daimler Greater China Investment Co., Ltd. to acquire Shenzhen Jinggangshan New Energy Investment Management Co., Ltd. The company holds some shares in Beijing New Energy Automobile Co., Ltd.
This move makes an important contribution to Daimler's layout in China's new energy sector. Zhang Zhiyong believes that the product positioning of BAIC New Energy and Tengshi has a complementary relationship, and the low-end and high-end models complement each other.
A few days ago, the German "Business Daily" said that due to battery shortages and other technical problems, Daimler Group's plan to launch electric vehicles is facing delays. Daimler's new EQC electric mid-size SUV will only be available in June 2019, a few months behind the original plan. However, Daimler later clarified that the plan to launch an electric luxury vehicle will proceed as scheduled. The Times reporter asked Daimler's relevant departments for the specific time of listing of EQC electric mid-size SUVs. As of press time, no reply has been received.
According to the "2016 Annual Average Fuel Consumption of Chinese Passenger Car Companies and New Energy Vehicle Credit Accounting Table" released by the Ministry of Industry and Information Technology and other four ministries and commissions, the current two joint ventures of Mercedes-Benz in China (Beijing Benz and Fujian Benz) The new energy points are all 0, and the rival BMW's new energy points have reached more than 3500 points, Daimler urgently needs to go roundabout through paths such as Tengshi.
In fact, as early as 2016, Mercedes-Benz released a new sub-brand EQ. Mercedes-Benz even stated that it will establish six vehicle manufacturing plants and five battery manufacturing plants in Germany, the United States, and China. By 2022, all models of Mercedes-Benz will have electric versions, and the Smart brand will be fully electric. By then, Mercedes-Benz will have at least 50 hybrid or pure electric models for market selection, involving Mercedes-Benz brand, sub-brand EQ and Smart brand. However, the progress of Mercedes-Benz is relatively slow.
Luxury car new energy structure awaits remodeling
Daimler made a trident of BAIC New Energy, Tengshi and Mercedes-Benz EQ series of new energy vehicles, but still faced strong competition from old rivals BMW and Audi.
At present, BMW has six new energy products in China, both the pure electric imported S3 and plug-in hybrid power. It is expected that by the end of this year, BMW will realize the construction of more than 80,000 charging piles. In addition, more than half of BMW dealers have been trained to provide sales and services for new energy vehicles.
The development plan of Audi's new energy vehicles is also gradually clear. In August this year, Audi will launch its first pure electric model e-tron SUV. It is expected that by 2025, Audi will complete sales of 800,000 new energy vehicles, including pure electric and hybrid power.
For Mercedes-Benz, the current success of the Chinese market determines the success of the global market. With the implementation of the double-point strategy and the approach of the new energy vehicle exit subsidy in 2020, Daimler with a complete luxury car manufacturing system should also be sincere. It is intentionally to increase investment to reshape the new energy structure of the first camp of China's luxury cars.
In addition, Daimler needs to face another strong opponent, that is Tesla. According to the calculation of Time Weekly reporter, if the Tesla electric car can be produced locally, its price in China can be reduced by 1/3 after the tariff is eliminated and the transportation cost is reduced, and the competitiveness of Tesla products will increase greatly.
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