The battery life is 800km+ 3.7 seconds. Is there any explosion potential when the electric car comes？
[car home Industry] 2020 is both an unfortunate year and a lucky year. The impact of the epidemic on the world is obvious to all, and production and life have also stagnated; Fortunately, the epidemic situation in China has been effectively controlled and the economy has recovered. In the automobile circle, we have also seen the rise of many new stars/the death of heroes. In addition, the process of intelligentization and electrification is gradually accelerating, and every change has a profound impact on us, which also hides many opportunities and challenges.
Brief introduction of "VICTORY" series topics;
At the beginning of the new year in 2020, a sudden epidemic broke out in COVID-19. Faced with this war without smoke, people from all walks of life launched a tough battle against the epidemic, and car companies also actively responded, resuming production and returning to work in an orderly manner while preventing epidemic. After the epidemic was effectively controlled, most auto companies began to rebound, pushing new products, promoting marketing, opening channels and talking about cooperation. The domestic auto market once again ushered in a lively scene, achieving a strong recovery in the shape of "V" and creating an incredible victory. In order to remember such a special year, we specially planned the major events in 2020 and set its key word as "VICTORY". This issue is the second in a series of topics, and we will also have five key topics, so stay tuned.
In this issue of the "I" series, we will review it together from the perspectives of IPO and Intelligence (intelligence) to see what happened in 2020.
●IPO: "Double-edged sword" public offering is both an opportunity and a challenge.
The abbreviation IPO(initial public offering) is believed to be familiar to netizens, which means initial public offering in Chinese. It is the first time that a company issues shares to investors through a stock exchange to collect company development funds. Recently, "getting together in IPO" and "soaring stock price" have become the most prominent labels of China’s new car-making forces.
In 2020, Ideality and Tucki successively completed IPOs in US stocks, and the market value of the former reached $13.9 billion on the day of listing. Nowadays, with the rapid development, the market value of LI has reached $29.163 billion, while the current market value of Xpeng Motors is as high as $32.915 billion. Weilai, who was once not optimistic, has performed astonishingly recently. As of the close of the US stock market on November 4, Weilai soared from the lowest point of $1.32 per share in 2019 to $54 per share (if you had bought more at that time, it is estimated that wealth is free now), and its market value reached $44.9 billion, making it the highest car company in China, which even surpassed BMW (the market value was 38.49 billion euros, equivalent to $44.8 billion).
With the stock prices of Weilai, Ideality and Tucki rising and the market value soaring, Weimar and Hezhong have put forward IPO plans one after another, and the zero-running cars, which are both new forces in building cars, have also accelerated the IPO pace. In the A-share market, the OEMs are also not to be outdone. Recently, the GEM of Shenzhen Stock Exchange accepted the IPO application of Dongfeng Group. As for Evergrande, which has not yet built a mass production car, it began to receive counseling and filing at the end of September, which indicated that the listing process of Evergrande in science and technology innovation board began to accelerate.
Interestingly, the new car-making forces represented by Weilai, Ideality, Tucki and other car companies have a high market value, but obviously there is still a lot of room for development in sales. According to the data of the Federation, from January to November 2020, Weilai sold a total of 36,721 new cars, a year-on-year surge of 111.1%. In January-November, 2020, Ideal and Tucki were 26,498 and 20,586, respectively. The sales data of the three car companies add up to only 83,800, which is not far from the sales of domestic first-tier brands.
Let’s compare the traditional China brand car companies. From January to November 2020, the cumulative sales volume of Geely Automobile exceeded 1.166 million (China brand sales), and the market value of the US stock market was 27.015 billion US dollars; The total market value of Great Wall Motor in China, with a cumulative sales volume of 758,000 vehicles, is 228.757 billion yuan. Why are the new forces that build cars without sales support so optimistic about capital? In 2019, the new car-making force, which is still half dead, will turn around in 2020: sales are getting better and better, and brands are getting stronger and stronger. In fact, under the trend of big waves, the start-up car companies with no characteristics have fallen down one after another. The new car-making forces represented by Weilai, Ideality, Tucki and other car companies all have their own core competitiveness, which has a unique side in intelligent research and development, user operation and even enterprise management, and even attracted many OEMs to follow suit. It can be said that in the field of new energy vehicles, Weilai, Ideal and Tucki constitute the core strength of China automobile industry.
The completion of IPO is not only investors’ affirmation of the company’s previous operation, but also through public offering, car companies can absorb more funds to complete their broader development prospects in the future. At the same time, listing also means that the relevant financial reports of the company must be publicized to the outside world. Once there is a problem in the company’s operation, the relevant impact will soon be reflected in the stock, which will also bring greater challenges and uncertainties to the company’s future operation. When Weilai’s share price fell to $1.32, countless investors thought that the car company had locked in the inevitable outcome of delisting, but the subsequent rise also made many investors regret it. Referring to Tesla, a successful new car maker, the core competitiveness in new energy, intelligence and technology is the development direction that capital is optimistic about enterprises, which is one of the reasons why the market value of Weilai/Ideality/Tucki can reach such a high level.
Of course, high market value does not mean everything. As of November 27th, Tesla’s market value reached US$ 555.242 billion, making it the highest car company in the world. Toyota Motor ranked second with a market value of $195.913 billion. Tesla even exceeds the sum of Toyota, General Motors and Ford Motor Company. Toyota President Akio Toyoda said in the earnings conference call that Tesla’s business is like a restaurant that is still selling recipes, while Toyota is more like a restaurant that has provided services to a large number of customers. The number and types of cars produced and sold are much higher than Tesla’s. At present, Toyota, which has sold more than 100 million units in the world, is really qualified to say such a thing. Down-to-earth achievements are the foundation for the long-term survival of enterprises.
In addition, the increase in the market value of car companies will also drive the increase in the market value of supply chain-related companies, and both Contemporary Amperex Technology Co., Limited, Guoxuan Hi-Tech and Junsheng Electronics are positively affected by new energy car companies. No matter Weilai, Ideality, Tucki or other companies about to IPO in the future, they all need patience. IPO is only the beginning of a bigger plan in the future, not the end. Capital’s optimism about the new forces of car-making is more because they have taken the first step on the seemingly correct road at present, and how they will develop under the pressure of traditional OEMs in the future, let us wait and see.
●Intelligence: "The car of the future may not be electric, but it must be intelligent."
Looking at the new cars in 2020, everyone is clamoring to claim that they are "smart cars". If the screen size on the central control is not larger than 10 inches, it seems that they are embarrassed to sell to consumers. However, under the banner of intelligence, it is only the primary standard to plug a big screen for cars, which can truly realize the networking of cars to meet the diverse needs of car users. Realizing high-level driverless driving based on V2X is the ultimate goal.
At present, smart cars have derived two main technical application directions, namely, autonomous driving and car networking. The Internet of Vehicles has become a battleground for a new round of scientific and technological innovation and industrial development at home and abroad. Entering the strategic opportunity period before the industrial outbreak, a large number of new technologies, new products and new services are being born. The technology of vehicle networking is evolving towards intelligence and networking, and key technologies such as vehicle operating system, new automotive electronics, vehicle communication, service platform and security have become research hotspots.
In the early car networking scheme, an important idea was to map the mobile phone to the car. However, with the development of technology, car companies and car networking companies have realized that if the car networking wants to be easy to use and fun, it must be deeply integrated with the car electronic architecture. Especially in electric vehicles, the vehicle can be involved in almost all electronic control units of the whole vehicle, which is also an important reason why new forces such as Tesla and Weilai can take the lead in the field of intelligence ahead of established OEMs.
"Guangzhou Automobile Group and Iflytek signed a joint venture cooperation agreement"
The application of car networking technology and autonomous driving technology will become an important indicator to determine the strength of products. We can see that Baidu, Huawei and other technology companies have rapidly deployed their intelligence. Companies such as ZTE and Xiaomi have successively announced their own solutions, and Iflytek has also released three core car networking systems, which will become important partners in the new four modernizations transformation of traditional car companies. Seeing the advantages of Internet companies in intelligence, many OEMs have also chosen to join hands. For example, GAC signed a strategic cooperation agreement with Baidu, and Ali also cooperated with Audi in vehicle systems. It is estimated that by 2025, the number of connected cars in the world will be close to 74 million, and the number of connected cars in China will reach 28 million.
In the aspect of driverless driving, V2X is naturally an indispensable part, and its English full name is Vihicle to everything, that is, the connection between the car and everything. Popularizing V2X technology is also a necessary condition for mass production of high-level driverless cars. Recently, the United States officially announced that it would abandon the DSRC vehicle networking standard and turn to C-V2X. After the turn of the United States, it means that C-V2X, which is mainly promoted by China, will become a widely recognized industry fact standard worldwide.
According to incomplete statistics, China has more than 30 C-V2X vehicle networking technology test demonstration zones, including 16 national demonstration zones. Whether in technology or policy, China is at the forefront of the world. After the U.S. turned to the C-V2X standard, the standard gained more recognition, which will enable China enterprises to continue to invest more energy in C-V2X technology, further form economies of scale, and accelerate the development of the car networking industry. At the same time, it has gained more confidence for the car networking industry in China.
You know, although most car companies claim that their new cars have driverless technology, the current reality is that L2-level assisted driving accounts for most of them, and high-level driverless cars can’t be delivered in mass production at present.
Everyone has different opinions and perceptions about autonomous driving. We have also tested the Baidu driverless car that is open to the public. In the mixed evaluation, on the whole, Baidu Apollo self-driving taxi did not surprise everyone as expected. For example, it was difficult to get up early to experience the rush period, the ride comfort was low, and the autonomous driving needed manual intervention and fixed boarding/alighting location in an emergency, so that this car was labeled as the data collection stage.
Under all kinds of restrictions, the status quo of high-level unmanned driving seems to be in a tortuous stage with a bright future. No one knows how long it will take for new technologies to land, and the pace of "intelligence" is long, but at present, at least in some aspects, we have been at the forefront of the world.
● INternational: Made in China Going Out
In the past, when traditional fuel vehicles were the mainstream, China’s manufacturing enterprises played a more "follower" role in the international market, and with the arrival of the era of electrification and intelligence, the whole automobile industry will be changed. In the new round of track, China enterprises have emerged in the global automobile market.
On October 26th, Tesla held a ceremony to export the whole vehicle to Europe in Shanghai Super Factory. About 7,000 domestic Model 3s will depart on October 27th, and are expected to arrive at Belgian ports at the end of November, and then will be delivered to dozens of European countries such as Germany, France, Italy, Netherlands, Portugal, Switzerland and Sweden.
Tesla’s goal this year is to sell 500,000 vehicles worldwide annually. Shanghai Superfactory plans to produce about 550,000 electric vehicles in 2021, including 300,000 Model 3 models and 250,000 Model Y models. It is reported that among the 550,000 production capacity, about 100,000 Model 3 and 10,000 Model Y are planned to be exported to overseas markets.
Not only Tesla, but also the factories built in China by many overseas brands have already started to export overseas. On December 12th, the first batch of more than 290 Chevrolet Chuangku exported to Uzbekistan was loaded and shipped at Huishan Railway Station in Shenyang. Since 2001, SAIC-GM’s products have been sold to North America, Europe, Africa and other markets. From January to July this year, SAIC-GM-Wuling’s overseas production and sales exceeded 50,000 units/set, a year-on-year increase of 37%; The total sales in overseas markets reached 2 billion yuan, a year-on-year increase of 35%. Among them, Baojun 530 has exported 20,621 vehicles worldwide, making it the most exported SUV made in China this year.
As for luxury brands, the iX3 model manufactured by BMW Brilliance was officially exported to the global market on November 11th, which means that BMW’s promise of "in China, for China, for the world" has been fulfilled. It is understood that BMW iX3 is the first "world model" of BMW Brilliance. The car is produced in BMW Brilliance Shenyang factory, and the quality management system adopts global unified standards, and it is sent to the global market through sea-rail (sea and railway) combined transport.
As for the China brand, we are not afraid. Let’s take Chery as an example. From January to September 2020, Chery Group exported a total of 73,679 vehicles, up 3.2% year-on-year. Among them, Tiggo 8 and other models have successively landed in Russia, Saudi Arabia, Chile, Ukraine, the Philippines, Peru and other markets, driving Chery Automobile to export 69,371 vehicles in the first three quarters, up 36.4% year-on-year. Up to now, Chery Group’s global automobile users have exceeded 8.75 million, and the cumulative export of automobiles has exceeded 1.65 million.
In fact, there are far more new cars made in China and exported overseas. For example, domestic Jeep Guide/Freeman, domestic Volvo XC40, Roewe iMAX 8/Ei5 and other models have all been exported to overseas markets and achieved good results.
As the China market becomes more and more important, China manufacturing will occupy more weight in the global automobile industry in the future, and the increasing degree of internationalization also means that the pace of China manufacturing going abroad is gradually accelerating. In 2021 and the following days, it is believed that China brand and China manufacturing will go abroad more, which can balance the peak and valley production capacity of automobile enterprises on the one hand and show our great power on the other.
●iX、ID ……
At the card table called automobile transformation, the capital side began to bet on "smart electric vehicles" instead of "traditional fuel vehicles" and "new forces" instead of "old forces". After feeling the increasingly urgent situation, the old OEMs have obviously begun to reform vigorously and decided to keep up with the times. The release of many concept cars/production cars seems to show their determination.
In terms of luxury brands, BMW is probably the most representative. Looking back on the development of BMW’s electrification, the BMW i3, i8 and other models built in the early days have been discontinued one after another, while the brand-new pure electric platform has not been put into mass production, which inevitably makes BMW Group labeled as "starting early and catching up late". In the past, there were pure electric offensives by old friends Mercedes-Benz and Audi, and later, there were new car companies such as Tesla and Weilai, and BMW was in a very uncomfortable situation. After starting the two-step strategy, in addition to further introducing hybrid new cars, BMW has also begun to rapidly develop pure electric new cars, and the BMW iX based on iNext is its first achievement.
"BMW IX"
If iX3 is still a derivative of fuel vehicles, then BMW iX is completely "starting from scratch". This medium and large SUV, which locates pure electric vehicles, concentrates on BMW’s most innovative technology, covering brand-new electrical architecture, electric drive system, display and control system and intelligent driving system. The maximum power is 500 HP, and the WLTP has a battery life of over 600km. We will see it in China in 2021.
"SAIC Volkswagen id.4x"
As for Volkswagen, an old-fashioned German car company, the solution given is digitalization. Since 2016, Volkswagen will combine digitalization and electrification to promote enterprise transformation. "The elephant is turning around". The reform led by Diss has been going on for a long time, and the ID series has already begun its journey. Although the first model of MEB pure electric platform is ID.3, which has been delivered in Europe, considering the preference of SUV models in the domestic market, ID.4 has become the first model to enter China, and has been handed over to FAW-Volkswagen/SAIC Volkswagen for domestic production, namely ID.4 CROZZ and ID.4x. Previously, Volkswagen said that the price of ID.4 will be less than 250,000 yuan after subsidy. In terms of price, Volkswagen and Tesla have "the same goal": make the price of electric vehicles lower rather than higher.
In the follow-up new car plan, ID.4 GTX and ID.6 are already under planning, and we even reported the spy car several times, which means that the ID series will be gradually improved, covering a huge sequence of SUVs, cars and performance cars.
As we mentioned earlier, it is not only these overseas brands that are stimulated by the amazing market value of the new car-making forces, but also the China brands have fast actions. Lantu, which was established on the basis of Dongfeng Company’s car-making technology and superior resources, has only developed for two years since its establishment in 2018. In these two years, Lantu has completed the brand release, the establishment of the executive structure and the release of the first concept car, and its production car will be released in a few days, which is really not slow for traditional car companies. It is worth mentioning that its launch of Lantu FREE has also locked in the hot SUV market.
Lantu FREE, which locates medium and large intelligent electric SUVs, is based on the previously released Lantu iFree concept car, and will provide two power options: pure electric and extended-range hybrid. It has been pre-produced before and will debut on December 18th, and will be listed in the third quarter of 2021. From the power form, the two options seem to be aimed at Weilai ES8 and Li ONE respectively. Although there are many new forces that have fallen on the road of building cars, it does not affect the latecomers with deep pockets. Although the front waves are shattered, the back waves are still turbulent. "Building a car" is perhaps the most magical word in recent years, attracting countless warriors to explore. In addition to the Lan Tu mentioned above, Evergrande, which has invested heavily in the car-making industry, is also quite interesting. Whether capital can really buy the "industrial crown" remains to be seen.
● Edit Comment:
Whether it is the latent impression of the movie I, Robot or the meaning of Intelligence itself, the letter I leaves many people with the impression of intelligence and technology. In addition to the above words, there are many English words that can be used to describe the automobile industry in 2020, such as Innovative, Improve, Informationize, Invention and so on. Like these words, at the end of the second decade of the 21st century, the automobile industry is facing unprecedented great changes. The great innovation of electrification, intelligence and informatization has even accelerated the pace of improvement of some century-old car companies, and innovative car companies such as Tesla and Weilai are constantly creating new miracles.
Later, car home will also bring you a series of articles by VICTORY, using the letters "C", "T", "O", "R" and "Y" to present the story behind the world automobile industry in 2020. Wonderful content, so stay tuned! (Text/car home Jiang Che)
Review in the past:
In the last issue, we have brought you a series of "V" retrospective articles, starting with key words such as V-shaped recovery and Valediction, and taking stock of many events in the automobile industry in 2020.