The market is just heating up: 2nd wave of new EV brands

A similar brand explosion took place a few years ago, (How are electric vehicle first startups doing in 2021?) underscoring how such a tactic could backfire as a brand needs to be nurtured over time rather than built in a haste.

At end of last year, Changan Automobile Co. unveiled its EV brand Avatr.

Prior to Changan, four other major state-owned automakers also created new brands for EVs. 

Also last year, BAIC Motor Co., Dongfeng Motor Group and GAC Motor Co. each debuted an EV brand, known as Arcfox, Voyah and Vion, respectively.

Like SAIC, two leading private Chinese carmakers – Great Wall Motor Co. and Geely Automobile Holdings — have unveiled their second EV brands in 2021. 

At the Guangzhou show 2021, Great Wall launched the Salon. The company’s first EV brand, Ora, was created in 2018.

And in April, 2021, Geely revealed the Zeekr, two years after the roll-out of the Geometry.

With initial products featuring rich infotainment functions and advanced driver assistance systems, these new marques are all marketed as premium EV brands, and their owners expect to build presence in the domestic market for smart EVs, dominated by Tesla and startups such as Xpeng, Nio and Li Auto.

BYD is another example. At last year’s Guangzhou Motor Show (19-28 Nov 2021), Du Guozhong, deputy general manager of BYD’s brand and public relations division, said that the initial model from the future premium brand, and the brand itself, will be launched in the first half of 2022. 

Du Guozhong confirmed that  the first model of the high-end brand is a hard-core off-road vehicle, with a price in the region of 500,000-900,000 yuan (USD 78,000 to USD 140,000) with a launch planned in the first half of 2022.

Source: Automotivenews, local medias

BYD ‘R’ premium EV brand to debut with an off-road vehicle

China’s top 10 EV startups December & YTD 2021 Deliveries

Click and hold, then select [Extract QR code] to join our WeChat Group (Group admin : autochinarebecca )