On November 12, DPCA announced the signing of the first strategic cooperation framework agreement with Dongfeng passenger car Company.
DPCA said in a press release: "while signing the new energy vehicle strategic cooperation agreement, Dongfeng passenger car and DPCA have started the work related to the first strategic vehicle model. The professional working teams of finance, procurement, quality, manufacturing and information systems have been quickly set up, and the tripartite communication mechanism among Dongfeng Company, Dongfeng passenger car and DPCA has been established, and the work boundary has been sorted out. Formed a clear project work plan, continue to promote the project landing.
In fact, since the beginning of 2023, both Dongfeng and DPCA have frequently made drastic changes to their businesses during the year.
In April this year, Dongfeng proposed a "three-year action of transformation and upgrading". By 2024, Dongfeng's main independent brands will be 100% electric; by 2025, the annual sales of its own brands and joint venture brands will reach 2 million each. At that time, the sales of new energy vehicles of independent brands account for 50% of independent brands and 70% of independent passenger car brands. To this end, Dongfeng plans to invest 50 billion yuan over three years to speed up the landing of the above project. Then, in August, Dongfeng Automobile Group Co., Ltd. announced the launch of Dongfeng passenger vehicle new energy strategy and made a major adjustment to the new energy management system of independent passenger vehicles. Dongfeng Fengshen, Dongfeng e π and Dongfeng Nano are under the integrated management of Dongfeng brand.
DPCA also announced a marketing change plan this year to prepare for a comprehensive electrified transformation, in which Dongfeng Citroen and Dongfeng Peugeot will have unified management and network integration. DPCA hopes to speed up the process of electrified transformation by adjusting the structure of the marketing field. According to the plan, from 2024, DPCA will no longer launch new fuel vehicle models, and eight new cars with pure electricity, plug-in and extended range power system will be launched in the next five years, and the first new energy model is expected to go on sale in 2024.
On October 19th, Dongfeng Group reached an asset transfer agreement with DPCA to purchase specific land use rights, buildings and structures in Wuhan and Xiangyang, China, for 1.714 billion yuan. In addition, Dongfeng Group has also reached a leasing arrangement with DPCA. Dongfeng Group will lease its target assets to DPCA for a term of 10 years, and the follow-up DFG will be incorporated into the overall layout of Dongfeng Manufacturing Co., Ltd.
Although Dongfeng Group is not late in the transformation of new energy, its terminal sales of new energy vehicles are not good. Data show that Dongfeng Motor sold a total of 470000 new energy vehicles in 2022, but most of the sales came from lower-priced ride-hailing cars. After entering 2023, due to the continuous decline of the joint venture non-luxury brand market, the sales and profits of Dongfeng Motor's joint venture passenger car business have dropped sharply.
Data show that in the first half of this year, Dongfeng Motor Group Co., Ltd. accumulated sales of 945500 vehicles, down 23.4% from the same period last year. Among them, sales of Dongfeng Honda and Dongfeng Nissan fell 32.80% and 28.02% respectively compared with the same period last year, while DPCA sales also fell 21.56% year-on-year. In terms of new energy brands, the cumulative sales of Lantu cars increased 118.54% to 15000 vehicles compared with the same period last year, while easyJet New Energy increased 35.47% to 50200 vehicles. Although Lantu Automobile has greatly increased compared with the same period last year, it is still a far cry from the current mainstream car-building new forces in the car market, while Egett New Energy is mainly facing overseas markets.
"Automotive Industry concern" believes that the decline in sales of Dongfeng Group's brands is not only due to the sharp decline in domestic traditional fuel vehicle market share, but also due to the slow promotion of new energy vehicle products.
Yang Qing, chairman and party secretary of Dongfeng Automobile Group Co., Ltd., announced at the press conference of Dongfeng intelligent new energy brand SHOW that by 2025, Dongfeng Automobile Group's annual sales of independent new energy vehicles will reach more than 1 million. Independent new energy vehicle brands will launch 21 new energy products in the field of passenger vehicles, and 17 new energy basic models in the field of commercial vehicles.
It should be noted that the automotive industry is undergoing a drastic transformation to intelligence and electrification, and the competition in the domestic new energy vehicle market has become increasingly fierce, in the face of fierce market competition environment, whether it is Dongfeng passenger car company or DPCA automobile transformation is imminent, however, from the current market environment, Dongfeng passenger car company and DPCA want to gain market share in this field. At present, more energy is still needed.
DPCA said: "this strategic contract is not only the specific landing of Dongfeng Company to support the development of DMC's new energy cause, but also the beginning of DPCA's strategic transformation into Dongfeng's independent cause." In the future, Dongfeng Company will also continue to support DPCA to develop new models and introduce other new energy models into DPCA to help it actively integrate into Dongfeng's new energy industry.
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