On the track of new energy vehicles, BAIC New Energy is leading the industry with a breakthrough trend. Last year, for example, the company achieved a year-on-year growth of 84% with the sales of 92,172 new vehicles, of which Jihu Automobile increased by 138%, becoming a key force in promoting the rapid development of BAIC New Energy. Behind this achievement is BAIC BJEV's accurate grasp of market trends and unremitting pursuit of technological innovation.
In 2023, BAIC BJEV's investment in product research and development increased by 21% year-on-year, a figure that fully demonstrates the company's emphasis on technological progress. In particular, after the cooperation with CATL, ARCFOX Motors will be equipped with Shenxing ultra-rechargeable batteries, the application of this technology will greatly improve the vehicle's endurance and charging convenience, and is expected to bring users a more excellent driving experience.
BAIC BJEV's marketing strategy is also worth paying attention to. Through the concept of "scenario-based car manufacturing", the company has launched a number of models for specific market needs, such as the ARCFOX Koala launched in 2023, which is specially designed for parent-child travel and has quickly received a good response in the market with its health, safety and convenience characteristics.
In addition, BAIC BJEV has also deepened cooperation on a global scale, and the world's first trunk logistics fuel cell heavy truck jointly built with Sinohytec - Foton 49T hydrogen fuel heavy truck, as well as the new EQE and EQB pure electric SUVs in cooperation with Beijing Benz, are the embodiment of BAIC BJEV's technical strength. As an important participant in the new energy vehicle industry, BJEV has always adhered to the concept of sustainable development and is committed to promoting the sustainable development of the industry. By 2025, the company plans to expand the marketing and service network of the JiHu brand to more than 100 cities and set up more than 380 sales and service outlets worldwide. The realization of this ambitious goal will greatly enhance the market coverage and brand influence of BAIC BJEV, and further consolidate its leading position in the new energy vehicle market.
The rapid development of BAIC New Energy has allowed us to see the huge potential of the new energy vehicle industry. It is believed that in the near future, BAIC BJEV will occupy a more important position in the global new energy vehicle market and provide global consumers with greener, intelligent and convenient travel options. Let us look forward to more surprises and achievements from BAIC BJEV in the future.