NIO 's first car took 3 years to go on the market, Xiaopeng for 3 years, Ideal for 4 years, and Hengchi for more than 3 years, so the time for Evergrande is still within the reasonable range of the industry.
htmlOn October 29, Hengchi 5 officially started delivery, and 100 first batch of car owners will get the car. Previously promised to achieve mass production in September and start delivery in October, but even Xu Jiayin did not break its promise.
From the official information, we can see that Hengchi was founded on on August 28, 2019. By October 29 this year, the first car was launched in more than three years. Compared with other new car-making forces, it is really not long.
Some people may say that Evergrande’s car manufacturing time should not be so short. Didn’t it mean it took more than 4 years? It can also be said that because Xu Jiayin didn't want to build his own car at the beginning, he invested in Jia Yueting's 's Faraday Future in 2018. Unexpectedly, the two of them quickly parted in an unhappy manner, which made Xu Jiayin strengthen his determination to build his own car.
So, Hengchi 5 has been officially delivered, has Xu Jiayin been considered a car manufacturing success? Can Evergrande turn over?
01
Xu Jiayin's new energy vehicle Empire Dream
After experiencing the crisis in 2008, Evergrande successfully listed on the Hong Kong Stock Exchange in 2009. At this time, Evergrande's development was smooth, and real estate was in an explosive period. For real estate developers, it was easy to make money and raise funds. With so much money in hand, you can't waste it. So, Xu Jiayin began to seek to find new business growth points outside of real estate.
From Evergrande Ice Spring to Evergrande Football, from Evergrande Health to Evergrande Finance, it continues to enter new fields, but in the end it is not able to make money. Seeing Jia Yueting start building cars in 2018 also ignited Xu Jiayin's dream of building cars. Do it right away, Boss Xu has always had the strongest execution ability.
After being cheated by Jia Yueting, Xu Jiayin's Hengchi was born. In 2019, with Xu Jiayin's 15-word boastful words such as "buy, buy, buy, circle, circle...", Evergrande Auto hit fiercely. In those one or two years, Evergrande Auto only did one thing, that was to spend money. The top talents in the automotive industry have been poached from the world, acquired 9 companies from the world, and built a complete industrial chain of automobiles. From the country to acquire land, we have to build three major production bases in Guangzhou, Shanghai and Tianjin. has invested more than 50 billion in just four years.
As the richest man in China, Xu Jiayin really has a lofty goal. If you want to do it, you should do it first and vow to build the world's largest and most powerful new energy vehicle group, with an annual output of 1 million vehicles. my country's new energy vehicle production in 2021 is only 3.677 million. According to Evergrande Auto's goal, it will be a huge proportion.
Since Evergrande announced its car manufacturing, doubts have not stopped. First of all, some people think that Evergrande builds cars to acquire land. This is indeed the case. Evergrande buys a lot of land for car manufacturing, and more than half of it is residential land. Secondly, some people believe that Evergrande builds cars to make money and is just capital operation. Previously, Evergrande Auto's market value was speculated to nearly 700 billion, making it the highest-capital value car company in China. Just as the founder of WM Motor joked: Evergrande Auto, only a car is missing.
Previously, real estate was Evergrande's main business, and automobiles were the side business, so at that time, Evergrande was serious about building cars, but land acquisition and financing should also be one of the purposes. However, since the accident between Evergrande, I believe that building cars is wholeheartedly.
02
Is there a great chance of success in Hengchi5? 100 vehicles were delivered by
, which is just the first step taken by Hengchi. According to the industry, a model with a monthly sales of 10,000 vehicles is considered to be a firm foothold. So, is there a great chance of success in Hengchi 5?
First of all, there are many market opportunities. New energy vehicles are the key industry supported by my country, and the development is in full swing. In the first half of 2022, the sales of new energy vehicles reached 2.6 million vehicles, and increased by 21.2 times year-on-year, with a market share of 21.6%. Currently, the number of new energy vehicles in possession exceeds 10 million.
According to the plan, by 2030, the sales volume of new energy vehicles will account for 40% of the total sales of cars that year. This is a huge market space and there are great opportunities for car companies.
Secondly, the capital market is also very optimistic. According to iMedia Data Center, from January to July 2022, my country's new energy vehicle industry had 173 investment and financing, with an amount of up to 139.485 billion yuan. A lot of capital is still seeking potential car companies, a bit like the early stages of the development of shared bicycles in the past.
For Evergrande Auto, what we need to solve is the credibility and trust issues. Affected by the storm of Evergrande Real Estate's business, Evergrande Auto's reputation has also been questioned. There is also doubts about the quality of Hengchi 5, which needs to be verified by the market. Only by solving these problems will sales will increase, capital will come in, and Hengchi will become more and more smooth.
In terms of fame, Hengchi is not inferior to new car-making forces such as NIO and Ideal, but whether it can be transformed into an advantage depends on the next delivery situation. After all, it is said that it has received orders of 37,000 vehicles.
03
Can Evergrande turn the tables with Hengchi?
If Hengchi succeeds, can Evergrande take this to turn the tables? The answer is no.
In fact, the president of Evergrande Auto said before that Evergrande Auto is an independent listed company, just like China Evergrande , but Xu Jiayin is both a major shareholder.
Even if Hengchi succeeds, Evergrande Auto’s stock price has risen and has obtained financing, it cannot simply use money to fill Evergrande’s holes, which is a drop in the bucket. Moreover, with the configuration and pricing of Hengchi 5, the profit of and should not be high, and it is expected to continue to lose money in the early stage.
Therefore, the possibility of Evergrande's turnaround is very small, and it is inevitable to embark on the road of restructuring. But for Xu Jiayin, Evergrande Auto is his chance to turn the tables.
