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BAIC BluePark's EV Sales Fluctuate, Huawei Partnership Awaited

BAIC BluePark's EV sales have seen ups and downs. A new partnership with Huawei could turn things around.

In the image we can see there are many vehicles. This is a road, grass, fence, electric pole,...
In the image we can see there are many vehicles. This is a road, grass, fence, electric pole, electric wires, trees, benches, buildings, windows of the buildings and a pale blue sky.

BAIC BluePark's EV Sales Fluctuate, Huawei Partnership Awaited

BAIC BluePark, a leading Chinese automaker also known as Beijing Electric Vehicle Co., Ltd. (BJEV), has had a mixed history of success in the pure electric vehicle (EV) market. Once the top local Chinese brand and global leader in pure EV sales, recent years have seen fluctuations in its annual sales.

BAIC BluePark dominated the Chinese pure EV market from 2013 to 2019, holding the number one spot for seven consecutive years. In 2019, the company sold an impressive 150,600 units. However, a significant decline followed in 2020, with annual sales dropping to 25,914 units. The exact figures for 2021 are not available, but BAIC BluePark remains a prominent player in the industry.

Looking at BJEV's monthly sales, October 2023 saw a 22% increase from the same month in 2022, with 2,484 units sold. This follows a 1% increase from September 2023. However, from January to October 2023, BJEV sales were down about 16% compared to the same period in 2022, with 19,458 units sold.

BAIC BluePark's new energy vehicles are set to be offered in Huawei's sales channels, indicating a potential boost in sales and market reach.

BAIC BluePark, despite its past dominance and recent fluctuations, continues to be a significant player in the Chinese stock market today. Its partnership with Huawei could potentially drive sales growth. However, the company's annual sales figures for 2021 remain unclear, and its recent monthly sales trends show both increases and decreases compared to previous years.

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