As the vehicle company that has benefited the most from partnering with Huawei, the latest production and sales report data from Serys shows that the company's cumulative sales of new energy vehicles exceeded 426000 units in 2024, a year-on-year increase of 182.84%. The new M7 model under the intelligent luxury new energy vehicle brand WENJIE, jointly developed by SAIC and Huawei, has ranked first in sales of new energy vehicle models in China for 12 consecutive months. Another WENJIE M9 model has also won the top spot in sales of luxury models priced at 500000 yuan or above in the Chinese market. The development tone of Serys in 2025 is that status comes before scale, "said Zhang Xinghai.
On January 2nd, Geely Automobile announced that its annual sales target for 2025 is 2.71 million vehicles, a year-on-year increase of 25%. Among them, Geely's brand sales target is 2 million vehicles, a year-on-year increase of 20%; Jike and Lynk&Co had 320000 and 390000 vehicles respectively, an increase of 44% and 37% year-on-year. In terms of new energy vehicles, the target for 2025 is 1.5 million units, a year-on-year increase of 69%, with an expected penetration rate of over 55%.
This goal is quite pragmatic and cautious, "said Gui Shengyue, CEO of Geely Automobile Holdings." By 2024, Geely Automobile has made a significant breakthrough in sales of new energy vehicles, but the success of the new energy transformation ultimately needs to be reflected in profits. Geely's new energy vehicle sector has now turned losses into profits and is expected to achieve comprehensive profitability by 2025. Only when new energy vehicles achieve comprehensive profitability can the true success of the transformation be proven
Xiaomi Group Chairman Lei Jun recently announced Xiaomi's new goal for cars: "By 2025, our delivery target is 300000 vehicles. In the new year, we will continue to expand production capacity and ensure delivery." NIO Chairman Li Bin said that NIO's goal for new energy vehicles by 2025 is to double overall sales to 440000 vehicles.
Continued export growth
New overseas factories bring new production capacity
As a key project of high-quality co construction of the "the Belt and Road", Phase I of the Qiankai Port Project in Peru has been officially put into use recently. 40 L4 level intelligent driving trucks under SAIC Group have also been commercialized in Peru as the first batch of large-scale intelligent driving port transport vehicles overseas in China. According to sources from SAIC Group, Chinese new energy vehicles are transported to the Latin American market through Qiankai Port, which significantly shortens the travel time and saves approximately 20% of transportation costs.
The Electric Vehicle Hundred People's Association predicts that by 2025, China's exports of new energy vehicles (including local production) will reach 1.4 million units, with a growth rate of 10%. Among them, Latin America, ASEAN, and the Middle East are key regions for China's new energy vehicle exports. When looking ahead to the future export situation, Huachuang Securities stated that although exports to the European and American markets face uncertainty, there is enormous growth potential in markets such as Central and South America. In addition, with the development of Southeast Asia and other regions, China's automobile exports will usher in new opportunities in these emerging markets.
At the same time as their products go global, Chinese new energy vehicle companies will usher in a new wave of capacity going global in 2025. BYD recently announced detailed plans for its Segde factory located in southern Hungary. According to the plan, the SEGD factory will start production by the end of 2025 and can produce 12 new energy vehicle models, mainly mid-range cars and plug-in hybrid cars.
The Great Wall Motors Brazil factory is expected to start production in mid-2025. In addition to meeting the supply demand for new energy vehicles in the Brazilian domestic market, the new factory will also serve as Great Wall Motors' fourth largest global production base. The factory will have the ability to produce 50000 vehicles within three years, and the output will exceed 10000 vehicles by 2025.
In the past, the export of automobiles was mainly for trade, but in the future, joint ventures and cooperation will become symbiotic enterprises, with more cooperation in capital structure and production, and a new model of interest coordination to internationalize. "Zhang Yongwei said that Chinese new energy vehicle companies cannot just copy domestic tactics like in the past, but also learn to understand the world.
Xu Haidong, Deputy Chief Engineer of the China Association of Automobile Manufacturers, stated that achieving localized production through direct investment or joint ventures is also a way to avoid high tariffs when going global. For enterprises, overseas direct investment tests their ability to understand local information regulations, logistics capabilities, financial support capabilities, local production and supply chain system coordination capabilities, after-sales service capabilities, as well as comprehensive abilities such as how to integrate into local society and culture.
