"Changing a name is simple, but altering destiny is another matter entirely."

Altering destiny is a far-fetched notion for most, often confined to the realm of blockbuster movies.

Even for ordinary individuals, changing a name involves a meticulous process. For enterprises, while name changes face fewer restrictions, they still bring about numerous inconveniences, especially for listed companies where the impact can be significant.

On February 14th, BAIC BluePark announced that it would be renamed BAIC ARCFOX New Energy Automobile Co., Ltd.

As China's first listed new energy vehicle company, BAIC BluePark was once heralded as the pioneering stock in the domestic new energy industry. Now, at the dawn of 2025, this name change carries profound implications.

Moreover, the new company name underscores a focus on new energy vehicles, contrasting sharply with many new energy vehicle companies aiming to transform into technology firms.

ARCFOX's Counterattack

As one of China's earliest new energy enterprises, BAIC BluePark is backed by BAIC Group and serves as the group's sole electric vehicle platform. Since its listing in 2018, it has launched three major new energy vehicle brands: ARCFOX, BEIJING, and Enjoy.

Statistics show that BAIC BluePark sold 113,860 vehicles in 2024, marking a 23.53% year-on-year increase. Among these, ARCFOX sold 81,017 vehicles, accounting for over 70% of total sales.

ARCFOX currently stands as the main sales driver for BAIC BluePark, whereas BEIJING, once a pioneer in new energy, now struggles to maintain a presence, barely scraping by in the online ride-hailing market.

2024 was a banner year for ARCFOX. Since its establishment in 2016, last year marked its best sales performance. Annual cumulative sales doubled year-on-year, with monthly sales exceeding 10,000 vehicles for five consecutive months, solidifying its position among domestic new energy vehicle brands.

ARCFOX's sales growth is attributed to the overall surge in new energy vehicle sales. In 2024, sales of new energy vehicles in China increased by 35.5% year-on-year. Supported by various policies, new energy vehicles have become the primary consumption driver, swiftly replacing traditional fuel vehicles.

This growth is also due to ARCFOX's strategic adjustments. Starting in June 2024, ARCFOX introduced terminal incentives with price reductions ranging from 10,000 to 20,000 yuan, later expanded to 30,000 yuan, even encompassing the newly launched ARCFOX Alpha S5.

Specifically, ARCFOX's main models, Alpha T5 and Alpha S5, achieved rapid sales growth through a "low price, high configuration" strategy. The 160,000 yuan pure electric model comes standard with 800V fast charging and high-end configurations like CATL batteries, maximizing cost-effectiveness.

ARCFOX Alpha S5 has emerged as the "Redmi car" in consumers' minds. Amidst the scarcity of Xiaomi SU7, the more affordable Alpha S5 has become a viable alternative, especially when Xiaomi Automobile had many ties with BAIC at that time.

Moreover, sales growth stems from ARCFOX's market expansion. In 2024, the number of ARCFOX stores nationwide increased to 394, doubling city coverage and even penetrating into third-tier cities like Zhenjiang and Taizhou.

Furthermore, BAIC BluePark bolstered ARCFOX's exposure through marketing. In 2024, BAIC BluePark collaborated with Huawei HarmonyOS Intelligence, becoming one of the "Four Realms" Enjoy, once again bringing the early entrant ARCFOX into the limelight of consumers.

Under the influence of the prestigious "HarmonyOS Intelligence" brand, the exposure of related automakers significantly increased, especially in the initial months after Enjoy's launch, garnering BAIC BluePark considerable attention.

In the increasingly competitive new energy vehicle market of 2024, ARCFOX found a strategy to compete, successfully navigating risks and emerging as one of the few domestic new energy brands.

Entering 2025, ARCFOX continues its successful pricing strategy. On February 13th, ARCFOX re-entered the price war, initiating a new round of competition with a terminal discount of 32,000 yuan.

Renaming for Transformation

BAIC BluePark's renaming evokes memories of another automaker, Thalys, which abandoned its former name Xiaokang after collaborating with Huawei and emerged as a new star in the domestic new energy vehicle industry.

Coincidentally, BAIC BluePark also chose to rename after collaborating with Huawei. Unlike Thalys, however, BAIC BluePark elevated the ARCFOX brand name to the company name.

BAIC BluePark's announcement emphasized that the name change is to further focus on the new energy vehicle business, strengthen brand recognition and market influence, and align the company's future direction with a new corporate image.

Indeed, BAIC BluePark has reached a juncture where change is imperative. Since 2020, it has reported losses for five consecutive years, with the amount of losses continuously expanding amidst ongoing development.

According to preliminary financial reports, BAIC BluePark's net loss in 2024 ranged between 6.5 billion yuan and 6.95 billion yuan, a 20% increase compared to 2023, with cumulative losses reaching as high as 30 billion yuan, pushing the company's debt ratio above 90%.

Faced with losses, BAIC BluePark continuously finances through the capital market to replenish funds. At the end of 2024, it received an additional capital increase of 10.15 billion yuan, alleviating operational pressure, but reliance on external financing is not sustainable.

The market expects to see changes in BAIC BluePark, especially after ARCFOX's significant sales growth. Unifying the promotional name is crucial to direct hot money in the capital market correctly into BAIC BluePark's coffers.

In BAIC BluePark's previous promotions, BAIC BluePark and BAIC ARCFOX were almost distinct entities. Many consumers could only connect them through the ARCFOX tail logo.

This issue is not new for ARCFOX. During its early promotion stages, it was once tied to Magna manufacturing. For a time, ARCFOX automobiles sported a Magna tail logo. However, for ordinary consumers, Magna manufacturing did not add value, and its popularity was low.

Furthermore, after the name change, ARCFOX's importance within BAIC BluePark will be enhanced, signaling a conclusion regarding resource allocation towards ARCFOX and Enjoy. The independent brand ARCFOX will continue to be the primary investment focus.

After the launch of Enjoy S9, news about BAIC BluePark expanding its cooperation with HarmonyOS Intelligence has been consistently released, sparking concerns that BAIC BluePark might prioritize Enjoy and abandon ARCFOX. Such speculation is perilous for the ascendant ARCFOX.

After weathering multiple storms, the market is cautious about new energy brands, and these rumors could affect ARCFOX's sales.

BAIC BluePark's timing of announcing the name change is crucial, reassuring the market and instilling confidence in ARCFOX automobiles among car owners and dealers.

Since 2025, competition in the new energy vehicle industry has intensified, not abated, due to fewer participants. Tesla has once again sparked a price war, with NIO, Xpeng, and Li Auto closely following suit.

Among traditional automakers, BYD has stepped up its efforts, pushing the wave of intelligence into models priced at 70,000 yuan. Many automakers are struggling to keep pace. Changan Automobile plans to introduce lidar to models priced at 100,000 yuan within the year. ARCFOX's high-configuration, low-price strategy may falter in 2025.

Renaming is merely a superficial move. BAIC BluePark must address how to reduce losses and achieve profitability, finding new strategies to navigate the 2025 automotive market. Otherwise, it risks falling into the trap of "changing a name is easy, but altering destiny is difficult."

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