BYD is very good at making cars, and it has long been the leading boss in China. But what many people don't know is that Wang Chuanfu spent about 6 billion last year, and now he has finally succeeded in shipbuilding, and BYD has become the second car company in China to have its own fleet, which is equivalent to having a "sea money machine".
At the end of 2022, a number of ** reported that BYD, through an affiliated company, ordered as many as 8 dual-fuel vehicle carriers that can carry 7,700 vehicles at a shipyard in Yantai, Shandong. The order is for a total of 8 ships, of which 6 are confirmed to be built, and the other two are option orders. It is reported that the total cost of these eight car carriers is close to 5 billion yuan, with an average of more than 600 million yuan each. In addition, Guangzhou Shipbuilding International, a subsidiary of China State Shipbuilding Group, also received an order from BYD for the transportation of two 7,000-car dual-fuel vehicles. According to comprehensive estimates, BYD will invest at least 6 billion yuan in shipbuilding and will build about 10 car carriers.
Today, BYD has successfully built a shipbuilding and achieved major results in a phased manner. Recently, BYD's auto ro-ro carrier explorer 1 successfully completed its first 7-day trial voyage in Yantai, Shandong. Last month, the No. 1 ship of BYD's 7,000-vehicle dual-fuel vehicle carrier (PCTC) project, which was undertaken by Guangzhou Shipyard International, also started construction in Nansha, Guangzhou. The total length of the ship is 1999 meters, width 38 meters, draft 9 meters, speed 185 sections, using natural gas and fuel oil dual-fuel propulsion system, to meet the requirements of intelligent ships. This means that BYD is not far from the official launch of its own car "fleet".
Some people on the Internet think that BYD is a little too floating, why do you want so many boats for a car-making company?It's really not a good job. Diversification strategy is indeed the key reason for the demise of many large enterprises. But BYD shipbuilding is not a bad business. Due to the imbalance between supply and demand in the market, the surge in demand, and port congestion, the freight rate of car carriers has been soaring in recent years. From mid-2020 to mid-2022, the daily rental rate of car carriers increased from $10,000 to $65,000, an increase of up to 550%. BYD, which is accelerating its global expansion, urgently needs to have its own car carrier.
China's automobile export volume is relatively large, and the car companies have long been deployed in shipbuilding. SAIC, through its subsidiary Anji Logistics, operates a total of 31 car carriers. Moreover, Anji Logistics has also ordered 2 7600-parking spaces and 3 7800-parking dual-fuel vehicle carriers in Jiangnan Shipbuilding, and plans to build 7 8900-parking multi-fuel vehicle carriers. In addition, Chery Group acquired Wuhu Shipyard in 2007 and has long had the ability to build ships independently. BYD and other car companies can not only break the long-term "stuck neck" situation of European shipping companies, but also help to gain the best chain advantage in international competition.
In 2022, BYD's net profit will be 16.6 billion yuan. The 6 billion yuan invested in shipbuilding is equivalent to 36% of the annual net profit, and Wang Chuanfu's determination to build a shipbuilding can be imagined. Because Wang Chuanfu knows that BYD's shipbuilding money can definitely be earned back by selling cars, and it is a big profit. With its own car carriers, BYD is equivalent to having a "sea money printing machine". After winning the domestic sales championship last year, BYD's passenger cars began to accelerate their overseas expansion. In the first three quarters of this year, BYD Auto exported a total of 14550,000 units, and exports in October were 30,521 units, a year-on-year increase of 2203%, and the export volume will be even greater in the future.
It should be pointed out that the overseas price of BYD cars is higher than that in China, and it is in the same ** range as BBA, and the profit margin is very high. For example, BYD released two models in Europe, the Han and Tang, with prices as high as 720,000 euros (about 500,000 yuan), the highest domestic price of these two models is less than 330,000 yuan;The global ATTO3 (i.e., the Yuan PLUS in the domestic market) is also priced at 380,000 euros (about 270,000 yuan), the domestic price is only 16580,000 yuan. BYD's car carriers shipped cars overseas, and brought back a huge amount of foreign exchange.
In the field of fuel vehicles, Chinese automobiles cannot compete with foreign and joint venture brands in China. However, in the new energy vehicle market, China's auto industry has achieved a global lead. The independent brand represented by BYD shined at the Munich Motor Show in Germany, making the whole of Europe feel threatened;At the Tokyo Motor Show in Japan, when Akio Toyoda, the head of Toyota, passed by the BYD booth, his brows were tightly locked and his face was heavy. We expect BYD's overseas "fleet" to grow larger and larger, leading Chinese cars to occupy more of the global auto market.