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Beijing Automotive Group (BAIC) (北京汽车集团有限公司)

Known for Changhe, BBAC

Beijing Automotive Group (BAIC) is a state-owned auto manufacturer headquartered in China, with publicly listed subsidiaries, including BAIC Motor and Beiqi Foton. In 2019 it had US$25.3 billion in revenue and sales of over 1.1 million vehicles. BAIC sells very few light duty vehicles outside of China, which accounts for 99 percent of its sales by volume. Many of BAIC’s sales come from joint ventures with Hyundai and Daimler’s Mercedes-Benz.

Summary

Beijing Automotive Group Co Ltd has a performance score of 7.4 out of 20 against a well below 2-degree pathway. This is lower than the 2019 assessment, which assessed the group’s primary subsidiary BAIC Motor Corporation. The subsidiary achieved a performance score of 9.8 against the less ambitious 2-degree pathway. In 2020, BAIC Automotive Group Co Ltd (BAIC) was assessed to include all auto manufacturing elements of the corporate group.

BAIC performed well on the crucial low-carbon vehicle share indicator. Over 13 percent of the company’s car sales in 2019 were low-carbon, outpacing the 5.9 percent sales share required under its well below 2-degree pathway. BAIC is also developing new business areas that can enable the shift to a low-carbon transport system. BAIC’s subsidiary Beijing Electric Vehicle Co Ltd (BJEV) is developing a battery swapping business aimed at reducing the cost of electric vehicles and addressing consumer concerns about car charging. BJEV plans to invest US$1.4 billion to build 3,000 battery swap stations that could serve 500,000 electric vehicles by the end of 2022. Another BAIC subsidiary, Foton Motors, sells electric buses and aims to increase sales in the Indian market through a joint venture with PMI Electric Transportation Solution.

Assessment Note: BAIC Motor Corporation (a subsidiary of Beijing Automotive Group) received a full ACT assessment in 2019.

Performance module name	Performance module score	Rank (0-30)
Targets	0.0 /3	#19
Material Investment	0.0 /0.4	#12
Intangible Investment	0.0 /2.4	#23
Sold product performance	5.6 /7	#5
Management	0.2 /2.2	#24
Supplier	0.0 /1.2	#23
Client	0.0 /0.8	#15
Policy Engagement	0.6 /1.2	#6
Business Model	1.0 /1.8	#2

However, BAIC performs poorly on several modules due to its lack of transparency. It has not published a substantive low-carbon transition plan or set any emissions reduction targets. BAIC has reported its manufacturing emissions since 2017, but the data is insufficient to provide a meaningful assessment of its historic emissions trend. Although the company states that it completes an environmental performance evaluation of suppliers, no details were found on whether emissions are considered in this or how many suppliers are covered.

Past vehicle emissions performance, and the emissions lock-in – estimated future cumulative in-use emissions from projections of the company’s sales – perform worse in this assessment. This is partly because the well below 2-degree pathway expects more rapid short-term emissions reductions than the 2-degree pathway used for the previous assessment. BAIC should publish a low-carbon transition plan and set emissions reduction targets to improve its alignment with a low-carbon future.

See results for

2019
2021

More about the company

Headquarters: China
Ownership structure: State owned
Revenue (2019): US$25.3 billion
Number of vehicles sold (2019): 1,140,315
Website: http://www.baicgroup.com.cn/