In the face of market changes, new entrants to the industry are constantly emerging, with new energy and intelligent vehicles as their main entry points. The dazzling pure electric models are riding a wave. In contrast, PHEVs, which have the advantages of both fuel vehicles and pure electric products and have huge market growth potential, are more intriguing.
According to statistics, in the third quarter of 2021, the penetration rate of PHEV models in the EU passenger car market reached 9.1%, which is very close to the 9.8% of pure electric models, basically reaching a 1:1 ratio. Looking at the domestic new energy market, according to the latest data from the China Automobile Association in February, the penetration rate of PHEV was only 4.9%, while the penetration rate of pure electric vehicles was as high as 16.9%, which is extremely disproportionate.
Although the proportion is unbalanced, the trend of PHEV is soaring. In February 2022, the production and sales of pure electric vehicles increased by 1.7 times and 1.6 times respectively year-on-year, while the production and sales of plug-in hybrid vehicles increased by 4.1 times and 3.4 times respectively year-on-year, and the growth rate far exceeded that of pure electric vehicles. It is obvious that the PHEV segment is growing rapidly at a speed visible to the naked eye.
It can be seen that the current domestic new energy market structure is moving from "unbalanced" to "balanced". Perhaps this also means that the PHEV market segment is about to usher in both an "adjustment period" and an "explosion period." .
In fact, from the product supply side, whether to buy a gas-powered vehicle or an electric vehicle is not just an "A or B" choice. It can also be "A or B", especially large PHEV products with long pure electric range. That's a good solution.
For users of pure electric vehicles, the pain points are nothing more than range anxiety, difficulty in charging, limited use scenarios, etc., while users of fuel vehicles are faced with traffic restrictions, high comprehensive usage costs, and NVH Problems such as poor performance. However, long-range PHEV models represented by BYD DM-i, Great Wall's DHT-PHEV, Changan IDD series, etc. can well solve the needs and pain points of the two types of users, and have the product advantages of pure electric and fuel vehicles.
The picture shows the Great Wall Lemon Hybrid DHT system
In fact, the "dual-carbon" transformation of the entire automobile industry is not achieved overnight, which means that plug-in hybrid technology, It is destined to play a very important role in the progressive electrification process of the automobile industry. Among them, a new brand of Great Wall is attracting our attention.
Great Wall Car’s upward path may be opened by PHEV
Recently, in the bidding documents of the "Great Wall Holding Tendering Center", the expression "BC" appeared for the first time, which can indicate that Great Wall Motors Officials have indirectly acknowledged that the car project, internally codenamed "BC", is Great Wall's sixth new sub-brand. Based on various news previously exposed on the Internet, this "BC" brand is the rumored Great Wall sedan, and it is likely to be an important carrier of Great Wall PHEV.
Picture source: Great Wall Holdings Tendering Center
Why do you say that? Focusing on Great Wall's own technical route, it is determined that the new sedan brand "BC" has a high probability of taking the lemon DHT route. At present, Great Wall is intensively promoting the pace of DHT-PHEV. Currently, the new models of Great Wall's Haval and Wei brands are using brand-new hybrid technology.
The picture shows the spy photos of the "BC" sedan that were circulated online
Policy aspects cannot be ignored. The "Measures for the Parallel Management of Average Fuel Consumption of Passenger Car Enterprises and New Energy Vehicle Points" issued by the Ministry of Industry and Information Technology in 2020 shows that the average fuel consumption target of new passenger cars in 2025 is 4.0 liters/100 kilometers, and also clarifies the target for 2021-2023 The points requirements for new energy vehicles are 14%, 16% and 18% respectively. It can be said that the pressure from policy is also the driving force for "BC" to step up the launch of new energy technologies.
In fact, it is not difficult to see from a market perspective that after the early wild development of the new energy market, it has now entered a stage of high-quality development driven by the market and products. After in-depth adjustments before the outbreak of the C-end market, PHEV, which represents high-end industrial technology, can also become an anchor for brand premiumization.
The picture shows the patent application diagram of the "BC" sedan posted online
It can be seen that whether it is Great Wall's own technology orientation, overall industry policies, or market trends, all possibilities are pointing to PHEV this path.
Is “BC” aiming at a niche in the market? Or is it the explosive turnaround of PHEV?
At present, independent brands are clearly breaking through. The high-end car field is no longer the territory of foreign brands, and “BC "The brand choice appearing at this time is even more meaningful. Great Wall Chairman Wei Jianjun once said: "The opportunities for Chinese brands are fleeting, and only by quickly amplifying their advantages can they lead the track." The author believes that there are the following three reasons for my understanding of this "leading theory".
First, Chinese consumers’ automobile consumption concepts lead the world for the first time. Chinese users' understanding and acceptance of new energy are rapidly increasing at a speed visible to the naked eye. According to data analysis from the Passenger Car Association, China's new energy vehicle production and sales have ranked first in the world for six consecutive years. In 2021, the penetration rate of new energy has reached 13.77%, far exceeding markets such as the United States (4.44%) and Japan (1.26%). Once upon a time, Chinese consumers' understanding of cars has always lagged behind the world's overall level. This hard-won window period has allowed the Chinese market to lead the world.
Second, the rapidly iterative technology of Chinese enterprises is entering an explosive period. In the PHEV market segment, China has a late-mover advantage in hybrid technology, and will be on par with or even surpass fuel vehicles in terms of economy, safety, reliability and experience. As the "new four modernizations" technologies such as big data, artificial intelligence and autonomous driving are widely used in new energy vehicles, they also cater to the expectations and needs of the younger generation for cars.
The third is the lagging nature of foreign market factors. As foreign technical barriers in the PHEV field are gradually abandoned, electrification has had a greater impact on the vested interests of traditional fuel vehicles, severely constraining the pace of transformation of overseas brands in the high-end car market. At this time, independent brands are at the forefront and welcome the opportunity to replace them. This is a rare opportunity for Chinese automobile brands, and it is also an excellent opportunity for "BC" to wedge itself into the mid-to-high-end market.
The picture shows the live picture of the "Great Wall Motors 2025 Strategy Conference and the Opening Ceremony of the 8th Science and Technology Festival" posted online
But at the same time, we should not underestimate foreign brands. Every global enterprise has a strong technical foundation. As foreign brands step up their pace of technological catch-up, once the "elephant pace" accelerates, it will also bring unprecedented impact to independent brands. From "life hanging by a thread" to "there is only one opportunity for Chinese automobile brands to take the lead." Wei Jianjun, who has a sense of crisis, has already given the answer.
Written at the end
Standing in the turbulent waves of the transformation of the world's automobile industry, various automobile companies are like sailing against the current. If they do not advance, they will retreat. The concepts of the future are changing, the pattern is changing, and the values ????are changing. In the face of changes, the opportunities and challenges brought by the "new four modernizations" of automobiles have brought traditional strong foreign brands and independent brands to the same starting line, creating a rare and short window period for the upward transformation of independent automobile companies' brands. On this track, BYD, Geely, Changan, etc. have already been gearing up to give it a try, and the exposure of Great Wall's "BC" brand has added fire to the counterattack of independent brands. "A single spark can start a prairie fire." Let's wait and see.
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