BAIC BluePark's BJEV and Arcfox Show Signs of Recovery in December 2021
As of December 2023, Liu Yu serves as the Chairman of BAIC BluePark New Energy Technology Co., Ltd., the parent company of BJEV (BAIC BJEV) and the Arcfox brand. BAIC BluePark, a listed company under the Beijing Automotive Group (BAIC Group), focuses on electric vehicles and new energy technologies.
BJEV, once the top seller of pure electric vehicles in China for seven consecutive years from 2013 to 2019, faced a significant decline in 2021. It produced 969 units in December 2021 and 6,369 units for the full year, marking a 51.8% decrease from 2020. This was equivalent to just two months of sales for leading EV startups.
BAIC BluePark is now banking on its Arcfox brand for a turnaround. Arcfox delivered 4,993 vehicles in 2021, with a strong finish in December 2021, delivering 1,186 vehicles, a 696% increase year-on-year. Overall, BJEV sold 26,127 units in 2021, a 0.82% increase from 2020. December 2021 sales were particularly robust, with BJEV selling 4,198 units, its highest single-month delivery in the year. This was a 304.8% increase from December 2020 and a 70% increase from November 2021.
Despite a challenging year, BJEV and its Arcfox brand showed signs of recovery in December 2021. With Liu Yu at the helm of BAIC BluePark, the company is hopeful for a turnaround, pinning its hopes on the Arcfox brand's strong finish in 2021.
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