ANNUAL PRODUCTION AND SALES OF 1.45 MILLION VEHICLES - BAIC GROUP RELEASED ITS 2022 ANNUAL PERFORMANCE REPORT

Recently, BAIC GROUP released its 2022 annual performance report. In 2022, BAIC GROUP achieved the annual production and sales of 1.45 million vehicles, receiving revenue of 450.7 billion RMB; the profit increased by 4.7% year-on-year, realizing profit growth for two consecutive years. In addition, BAIC GROUP also released the "BLUE Plan" to introduce a whole array of low-carbon passenger and commercial vehicles. Reducing GHG emissions by its products, technologies, manufacturing processes and the low-carbon auto-making industry, to make its greenhouse gas (GHG) emissions peak by 2025, and reach net zero in its products and carbon neutrality by 2050.

For the passenger vehicles, BAIC has established two brand systems, "ARCFOX" and "BEIJING", and clarified the technical route of both pure electric and hybrid lines, and released new products such as ARCFOX αS the newest HI model, BAIC Off-road BJ60 and BAIC X55 II in 2022. Among them, sales of ARCFOX vehicles increased by 110% year on year, with charging services covering 320 cities; the pre-sale orders of BJ60 exceeded 10,000 and sold more than 3,000 vehicles in the first month after the launch. The export of passenger vehicles overseas reached 16,000 units this year, with a year-on-year increase of 97.8%. X55 II was launched in South Africa and successfully exported to Germany.

For commercial vehicles, BAIC FOTON achieved annual sales of 460,000 vehicles, with its market share increasing steadily, ranking first in the commercial vehicle industry for ten consecutive years. FOTON has achieved overseas sales of 86,000 vehicles, with a year-on-year increase of 54%, and remains the first place in commercial vehicle export. The whole series of products use new energy, and sold 22,000 vehicles with a year-on-year increase of 156%.

The annual production and sales of Beijing Benz Automotive Co. (BBAC) and Benz reached 600,000 vehicles, and BBAC entered a new stage of engine and vehicle production of "double 4 million". New models such as EQE, C350eL were launched, and the new long-wheelbase GLC SUV rolled off the production line, accelerating the transformation of "full electric" and continuing to enrich the electric product matrix. Sales of the EQ series increased by 151% for the whole year. Fujian Benz, the market leader in the high-end commercial vehicle market, sold 33,000 vehicles last year and officially launched its new V-class MPV at the end of last year. 

In 2022, the annual sales volume of Beijing Hyundai 7th generation Elantra exceeded 100,000 units, and the annual sales volume of the 5th generation Tucson L and new ix35 exceeded 100,000 units. The sales volume of the second half of the year increased by 66% compared with the first half of the year, and the monthly sales volume of December was 36,000 units. At the beginning of this year, China and Korean shareholders jointly increased capital by $942 million, which showed firm confidence in cooperation. The new team accelerates business innovation, focuses on key products, and comprehensively improves overall efficiency. By releasing the "2025 New Plan", Beijing Hyundai hopes to achieve annual sales of more than 500,000 vehicles by 2025 through product transformation, brand renewal and service innovation.

In addition, BAIC GROUP has deepened cooperation with leading enterprises in the industrial chain, jointly promoted the commercial application of autonomous cars with Baidu, jointly developed self-driving mass-production models with Huawei, and established strategic cooperative relations with state-owned enterprises in Beijing such as Beijing Energy Holding Co., Ltd., Beijing Urban Construction Group Co., Ltd. and Beijing Enterprises Group Co., Ltd., thus complementing each other's advantages and achieving win-win cooperation.

In 2022, BAIC GROUP made a number of breakthroughs and achievements in technology fields such as the EIC system (battery, motor and electronic control system of NEVs), intelligent network connection and hydrogen fuel, with 410 newly added invention patents. In terms of the EIC system, BAIC GROUP has developed the capacity of self-research and self-production of the battery system, taken the lead in the industry in mass production of 800V high-voltage 2C supercharge technology and put self-developed electric drives in mass production, and started the self-developed and trial production of battery cells.

In terms of intelligent network connection, ARCFOX αS the newest HI model has become the new benchmark of mass-produced intelligent driving technology in the domestic market. The L4 intelligent driving core algorithm development project has obtained the Beijing T3 road test license for autonomous driving and has carried out 3,500 kilometers of real car testing. In terms of hydrogen fuel, the first hydrogen internal combustion engine was successfully ignited, which is a key step toward an efficient zero-carbon engine. BAIC FOTON is equipped with 120kW battery system and 385L large capacity on-board hydrogen storage system for the first time, covering various driving scenarios such as public transport, logistics, sanitation and ferry. In terms of the hybrid system, BAIC GROUP has established the independent development capability of the hybrid power system and started the independent development of a 43% thermal efficiency hybrid engine. As for domestic chips, 51 kinds of domestic chips have been applied in key production models, and strategic cooperation has been carried out with domestic core chip enterprises for joint research and development and the application of new platform architecture models.