Thanks to the Sealion 6 plug-in hybrid and Atto 3, AC Mobility saw BYD’s share jump from 0.4 percent to 21.7 percent of its sales, Ayala said in recent presentation to investors.
It sold 5,106 BYD cars last year versus 61 when the brand was launched by the company in 2023.
Big picture
AC Mobility is led by Jaime Alfonso Zobel de Ayala, who’s targeting to capture a sizable stake of the EV business in the coming years.
The company is currently the largest distributor of electric cars, with a market share of 82 percent.
Total industry-wide share is modestly higher at 4.9 percent, suggesting demand for conventional cars continues to grow.
Zobel previously said battery EVs will account for 20 percent of new care sales by 2030.
AC Mobility’s other brands
BYD is gaining ground versus AC Mobility’s other car brands.
Kia remains in the lead with a 30 percent share, followed by Isuzu’s 24.7 percent and Honda’s 22.2 percent.
Volkswagen accounted for just under 1 percent of sales, with the rest going to Maxus.
AC Mobility continues to invest in charging infrastructure
Based on the presentation, the company installed 111 charging points last year, raising the total to 215 locations. It’s targeting 700 charging points by the end of the year.
This ramp up period is weighing on the bottomline, with AC Mobility posting a net loss of P465 million in 2024.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
