A media report recently claimed that BYD will be partnering with SAIC-GM-Wuling to form a new brand to create micro electric cars for urban mobility. In response, the Economic Observer quoted a SAIC-GM-Wuling executive as saying that this is fake news.
"It's not true, it's not true at all." The person said, SAIC-GM-Wuling is also checking the source of this "fake news".
BYD insiders did not respond directly to the authenticity of the news, but said, "If there is (cooperation) it will be written in the company's announcement, you can pay attention to BYD's announcement."
BYD is the top seller of new energy vehicles in China, and SAIC-GM-Wuling is emerging as a newcomer to the new energy vehicle market with the popularity of the Hongguang MINI EV.
If the two enter into a partnership, it is expected to have a major impact on the micro EV market. As such, the news immediately attracted great attention in the industry.
According to previous media reports, BYD will work with SAIC-GM-Wuling to establish a new brand that will focus on city-class micro electric vehicles, and the partnership is almost locked.
Based on the current development of BYD and SAIC-GM-Wuling's micro electric vehicles, it is believed that the partnership has some theoretical feasibility.
BYD, which has launched high-end EVs such as the Qin EV and Han EV, has long had its eye on the domestic micro EV market, launching its e platform and e series of products early last year.
The platform currently has three models: e1, e2, and e3, but the monthly sales of only a few thousand units have clearly failed to meet BYD's expectations.
If BYD reaches cooperation with SAIC-GM-Wuling, it can learn from the latter's current hot-selling minivan, the Hongguang MINI EV, and enhance BYD's competitiveness in the mini electric vehicle market.
If the cooperation is reached, BYD is also expected to take advantage of SAIC-GM-Wuling's leading channel advantage in the low-tier market and realize the sinking of its sales channels.
According to data, the third and fourth-tier markets and are those with the greatest growth potential for mini electric vehicles.