Lead:Tang DM-p, the highest-end product that integrates the achievements of BYD’s current technologies, represents the pinnacle of the current national automobile enterprises in China to some extent.
Liu Fei | Author Lishi Automobile | Produced.
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BYD is the hottest business enterprise in China this year.
On the one hand, its sales in China’s new energy vehicle market are in full swing; on the other hand, its market value has exceeded RMB 1 trillion some time ago, which has attracted great attention from people inside and outside the industry.
Behind the excellent sales performance and market value performance, the explosion products of BYD Dynasty series and Ocean series were released one after another. Not long ago, BYD released another eye-catching model, which is the Tang DM-p under the Dynasty series.
Readers familiar with BYD will understand that BYD’s DM technology is divided into two branches: DM-i and DM-P. Among them, the "P" of DM-p stands for "powerful", and it is equipped with a motor at the rear wheel to achieve the effect of dual-motor four-wheel drive, which has super power. Dynasty series is the high-end product series of BYD brand, Tang is the flagship model of mid-level SUV with the highest positioning in the current Dynasty series, and Tang DM-p is the high-performance model in the Tang series.
The newly released Tang DM-p has three versions: distinguished, exclusive and flagship. In terms of battery life, it is equipped with a high-capacity power blade battery with a high-efficiency EHS electric hybrid system and a 1.5T Xiaoyun plug-in hybrid engine, which provides 215km NEDC pure battery life and 1020km NEDC comprehensive cruising range for all three versions of vehicles.
In terms of performance, all versions of Tang DM-p are equipped with dual motors, providing the maximum power of 452kW, which brings a super acceleration of 4.3 seconds. This achievement even exceeds the 4.4 seconds of the pure electric model Tang EV, and directly catches up with the Tesla Model Y high-performance version with a price of 417,900 yuan. The strong performance of DM-p can be seen.
In addition to the strong acceleration performance, Tang DM-p also brought a good off-road ability. Thanks to the intelligent electric four-wheel drive of DM-p system, Tang DM-p can adjust the torque 20 times faster than the traditional engine when slipping, bringing a safer driving experience. At the same time, the DiSus-C intelligent suspension control system, Eaton differential lock and other off-road auxiliary hardware prepared by DM-p in Tang Dynasty have demonstrated their abilities ahead of the traditional mechanical four-wheel drive in off-road scene simulation tests such as single-wheel extrication, hump road test and 20% three-pulley ramp, providing more imagination for drivers’ off-road needs.
In terms of energy consumption, Tang DM-p also has excellent performance. It inherits the energy-saving gene of DM-i, and the fuel consumption of NEDC is as low as 6.5L per 100 kilometers in the state of power failure. In addition, Tang DM-p not only "saves" but also "makes up" quickly. With the highest charging rate of 2C and the charging power of 90kW, it takes only 20 minutes to charge the vehicle from 30% to 80% at the earliest. The pure battery life of Tang DM-p can meet the commuting in the city, while the comprehensive battery life can provide a worry-free experience for long-distance driving, which greatly solves the driver’s mileage anxiety.
In addition to the three core technical indicators of battery life, performance and energy consumption, appearance and space are also important elements that no brand can ignore.
The appearance of the new generation of Tang DM-p has made great progress compared with the previous products. The front face design of the new generation of Tang DM-P has changed the chrome-plated air intake grille of DM-i model, and adopted a more dynamic and fierce Long Lin lattice shape, which has higher recognition. The side lines of the whole vehicle are similar to DM-i models, with tough waistline design and suspended roof, and smooth lines. The tail of the new car continues the through taillight design, with a sharp air guide slot, which is simple and powerful.
In terms of space, as a medium-sized flagship SUV, Tang DM-p provides a three-row and seven-seat layout by default to meet the needs of domestic consumers for family trips and multi-generation rides. At the same time, for the advanced exclusive and flagship models, consumers can choose 10,000 yuan to upgrade the six-seat layout and choose the functions of front seat massage, two-row seat heating, ventilation and massage, bringing more spacious, flexible and comfortable flagship ride space experience.
Finally, in terms of price, the subsidized selling prices of DM-p of Tang Dynasty are 292,900 yuan, 312,800 yuan and 332,800 yuan respectively. Among them, the Tang DM-p flagship model with a price of 332,800 yuan is the highest-priced model under BYD brand.
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In the first half of 2022, BYD occupied the forefront of the cumulative sales list of new energy cars and SUVs with Qin, Han, Dolphin, Song, Tang and Yuan PLUS, respectively, and achieved remarkable success in the mainstream consumption range of 100,000-250,000. However, it has not been involved in the 300,000+market on a large scale. BYD Tang DM-p will be the most important product for BYD to hit the 300,000+market.
Let’s take a look at the comparison between BYD and its competitors at the same price.
First of all, in the field of fuel vehicles, almost all models with the same price are difficult to compare with the acceleration performance of Tang DM-P. For example, the acceleration of Audi Q5L, Mercedes-Benz GlC and other top models is 6 seconds, which is far from Tang DM-P. To achieve the same 4-second acceleration performance of Tang DM-p, it is necessary to equip the fuel vehicle with a V8 engine. Most of the models equipped with such engines are priced at millions. In addition, the energy consumption and endurance performance brought by Tang DM-p hybrid technology cannot be realized by fuel vehicles. The fuel consumption of Tang DM-p is only 6.5L per 100 kilometers, which is better than the average fuel consumption of 9-10L per 100 kilometers of the same price fuel SUV. If only pure electric drive is used for commuting in urban areas, the 215-kilometer NEDC pure electric battery life owned by Tang DM-p can even achieve "zero fuel consumption" by charging only without refueling.
In the field of new energy vehicles, the competing products of Tang DM-p are mainly divided into pure electric and extended range products. Compared with the two pain points of charging difficulty and short battery life of pure electric products, Tang DM-p can solve them well, and at the same time, it has the acceleration performance that pure electric products are good at. Take the Tesla Model Y rear-wheel drive version with a relatively close price as an example. Its NEDC pure battery life is 525 kilometers, and the zero-acceleration is 6.9 seconds. Compared with the unified 1020-kilometer NEDC comprehensive battery life and 4.3 seconds zero-acceleration of Tang DM-p, it has not gained the upper hand.
Compared with extended-range products, Tang DM-p is similar to its oil and electricity effects, but DM-p is recognized by the industry as a more advanced technology than extended-range technology. One of the biggest differentiation advantages is the fuel consumption during high-speed driving. In the process of high-speed driving, because new energy vehicles with extended-range technology can only burn oil to generate electricity, there is energy conversion loss, and their energy consumption is far higher than that of fuel vehicles of the same class. However, the new energy vehicle with DM-p technology can drive the vehicle directly at high speed, and its energy consumption is close to that of the fuel vehicle of the same level. Take Li ONE, the best-selling extended-range vehicle at present, for example, its fuel consumption exceeds 10L at a high speed of 100 kilometers, far exceeding the fuel consumption of traditional fuel vehicles such as BMW X3 and Mercedes-Benz GLC. In addition, the price of Li ONE is 349,800 yuan, which is higher than the top-equipped flagship of Tang DM-p, but its zero-hundred-meter acceleration score is only 6.5 seconds, which is obviously different from that of Tang DM-p’s 4.3 seconds.
Tang DM-p has demonstrated its comprehensive product strength both when comparing fuel vehicles and competing for new energy. At present, among the products in the range of 300,000+,it is difficult for us to see a competing product that has the same advantages of performance, fuel consumption, battery life, space and appearance. The launch of Tang DM-p is bound to stir up the market structure of 300,000+SUV.
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Behind the impressive product strength of Tang DM-p is BYD’s breakthrough performance and differentiation in many dimensions.
The first is BYD’s long-term accumulation in the field of DM hybrid technology.
BYD introduced the first plug-in hybrid model-F3 DM in 2008, but only sold more than 460 units by the end of 2012, and no one was optimistic. However, BYD, led by Wang Chuanfu, has always been firmly optimistic about the development of new energy vehicles since it resolutely transformed from the battery field to build cars. Wang Chuanfu once pointed out that electric vehicles mainly solve the increasing purchase demand of families with cars, while plug-in hybrid vehicles can meet the first purchase and redemption needs of most families, forming a substitution effect on the huge stock of fuel vehicles. BYD, which insists on dual-route development, has made great breakthroughs in hybrid technology after more than ten years of hard research and development.
At present, after four generations of technological evolution, BYD’s DM hybrid has formed two branches, DM-i and DM-p, which focus on low energy consumption and high performance respectively to meet different consumer needs. Among them, DM-i products have been superior to Toyota’s hybrid products of the same level in fuel consumption performance, which deeply branded the cognition of BYD DM-i as the first choice for hybrid into the cognition of domestic consumers. As mentioned above, DM-p products provide strong performance comparable to pure electric products and give consideration to energy consumption performance, bringing breakthrough comprehensive product strength.
The long-term accumulation of hybrid technology is not available to most traditional fuel manufacturers, and it is also not available to the new forces that take the pure electric or extended-range route. The qualitative change of products brought about by this will certainly be verified by the market. As of the first half of this year, BYD’s DM plug-in hybrid products have sold a total of 314,600 vehicles, up 454% year-on-year, even exceeding the sum of the top three sales of new forces in the first half of this year: Ai ‘an, Tucki and Nezha.
In addition to DM hybrid technology, BYD has also demonstrated its extraordinary strength in other dimensions of vehicles such as IGBT chips and three-electricity technology.Wang Chuanfu, the founder of BYD, has repeatedly said that BYD has a technology "fish pond" and cultivated many breakthrough technologies, which can be industrialized and commercialized quickly when the market needs it. In recent years, the independent technologies announced by BYD have all verified Wang Chuanfu’s theory of "fish pond". For example, IGBT 4.0 technology, blade battery, E-platform 3.0, CTB technology, etc., all became the cutting-edge technologies in the industry after their release, and quickly landed in BYD’s mass production models, which was fed back to the sales performance of various products.
Strong technical "fish pond" and technical self-confidence come from BYD’s continuous investment in scientific research. BYD’s latest annual report shows that it has more than 40,000 R&D personnel, and the overall R&D investment in 2018-2021 is more than 8 billion, and the R&D investment in 2021 will reach 10.6 billion yuan. This has brought BYD a huge technical reserve. According to the Creative Ranking of Listed Companies in China Automobile Industry released by Wisdom Bud Innovation Research Center, as of November 2021, BYD ranked first among domestic listed car companies with 24,800 patent applications and 0,640 effective invention patents, and the number of patent applications and effective patents accounted for 15% and 28% of the total data of domestic listed car companies respectively, far exceeding the industry average.
While adhering to the basic creed of "technology is king and innovation is the foundation", BYD has also deepened its moat in the dimensions of supply chain management and cost control.BYD started its own battery business as the basic point, and expanded its battery lithium resources upstream. During 2017-2022, it laid out lithium mine projects in Qinghai, Tibet, Sichuan, Indonesia and other domestic and overseas regions, and planned to build a total capacity of over 40,000 tons/year of lithium carbonate and 60,000 tons of lithium salt to ensure the stability of the supply of raw materials for lithium batteries for vehicles.
In addition, in the field of upstream chip supply, BYD has cultivated BYD Semiconductor, the only IGBT full industrial chain company in China, which ranks second among IGBT module manufacturers for motor drive controllers of new energy passenger cars in China, second only to Infineon, the industry leader from Germany. As the ballast stone of its parent company’s automobile chip supply chain, BYD Semiconductor has enabled BYD’s chip self-supply rate to reach 70%, helping BYD calmly cope with the "chip shortage" in the past two years. In the midstream supply chain, BYD has divided the previously vertically integrated business units with more than 10 years’ experience in research and development of auto parts, such as batteries, power, molds and lighting, into five "Foday" companies, namely Foday Battery, Foday Power, Foday Technology, Foday Seiko and Foday Lighting, introduced market-oriented management, and added well-known external suppliers such as Desai Siwei and Shangsheng Electronics, thus revitalizing the whole parts supply chain and controlling various costs.
The systematic ability of technology+supply chain makes it difficult for other competitors to make more competitive products than BYD at the same price, which is also the most important reason why any new model of BYD has quickly become a hot-selling model in the industry.
Tang DM-p, the highest-end product that integrates BYD’s current technological achievements, represents the pinnacle of China national automobile enterprises to some extent. Although it has not been officially released yet, it has attracted the attention of many consumers. We believe that it will have a high probability of performing well in the 300,000+market in the future, thus helping BYD achieve new breakthroughs in the mid-to-high-end market.
References:
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2. Technical Analysis of BYD DM-p with 4.3 seconds breaking 100 /45.8 kWh /90kW fast charge, all powered by electricity.
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4. Analysis of BYD’s Supply Chain and Business Layout in 2022. BYD strengthens the hardware barrier of electric intelligence. soochow securities.
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