A few days ago, Dongfeng Motor (600006) disclosed its production and sales snapshot in April, achieving total vehicle sales of 314,800 units in the month, up 6.6% year-on-year. Cumulative vehicle sales for the year totalled 1,136,600 units, an increase of 49.5% year-on-year. Of which, 228,500 units were sold in the passenger vehicle segment, up 5.3% year-on-year, while 86,300 units were sold in the commercial vehicle segment, up 10.1% year-on-year.
It is reported that Dongfeng Motor has Dongfeng Passenger Vehicle, Dongfeng Liuzhou Automobile, Dongfeng Xiaokang, Dongfeng Off-road Vehicle, Dongfeng Nissan, Dongfeng Honda, Shenlong Company, Dongfeng Yueda Kia, Dongfeng Qichen, Dongfeng Renault, Dongfeng Infiniti and other vehicle companies.
On the evening of April 17, when Dongfeng Motor held its spring ceremony in Shanghai, it released three small goals of "one million" that night. This plan shows that by 2025, sales of Dongfeng commercial vehicles, independent passenger cars and new energy vehicles will reach one million respectively, with new energy vehicle sales accounting for more than 20% of the company's total sales, and 100% electrification of the main passenger car brand models will be achieved in 2024.
According to the information, Dongfeng Motor has started the research and development of new energy vehicle products since 2005, and its new energy strategy aims to build a leading brand of new energy commercial vehicles in China, and it is the first enterprise in China to engage in new energy demonstration and operation and the first to realize new energy commercialization. At present, the company's new energy products cover a number of market segments such as public transportation, highway, urban logistics and special purpose vehicles.
In order to achieve the goal of new energy vehicles, Dongfeng Motor insists on the parallel development of electric, hybrid and hydrogen vehicles, builds the new energy vehicle industrial park with high standard, promotes the breakthrough of "three electric" core technology, and accelerates the industrialization process. At the same time, Dongfeng Motor indicated that it would reach strategic cooperation with Sinopec in the field of hydrogen fuel vehicles and hydrogen energy industry chain, and reached a strategic cooperation project with the Foshan Municipal Government on the demonstration operation of Dongfeng "Hydrogen Boat" hydrogen energy vehicles. The demonstration scale will be expanded year by year from 2022 onwards to promote the large-scale and high-quality development of the hydrogen energy industry.
In addition, Dongfeng Motor announced on 16 March that it had received a total of 540 million yuan of national subsidies for the promotion and application of new energy vehicles, of which 24.46 million yuan was the remaining state subsidy liquidation funds for new energy vehicles for the year 2017 paid by the Xiangyang Finance Bureau, which the company declared in 2019; 520 million yuan was the subsidy funds for the promotion and application of new energy vehicles for the years 2016-2018 paid by the Xiangyang Finance Bureau. On 22 April, the Company received another RMB320 million from the Xiangyang Municipal Finance Bureau for the 2016-2018 subsidies for the promotion and application of new energy vehicles.
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