The latest Zero Run, double happiness is coming.
C01 was launched on September 28.
On September 29, LePa Car was launched.
Zero Racing has also become the fourth new car-making force to successfully go public after "Wei Xiaoli".
However, Zero Run was a bit unfavorable, and it broke the issue price immediately after it was listed, and it also fell a lot.
Could it be that the stories told by new forces are not very useful?
Zero Racing car manufacturing, technology-building?
The image created by Zero Run for itself is: the image of a technical man and a science and engineering man, and insist on self-development of core technology throughout the entire region.
To use LeBron’s own statement last night, LeBron is the only smart electric car company among the new domestic car-making forces that has the highest ability to develop self-developed and self-made in all regions and the ability to integrate vertically into .
Oh no, I said it wrong, today's speech has become: it is the only emerging electric vehicle company in China with the ability to independently develop the entire region and the highest degree of vertical integration.
emmmmmmm...
I think this is a bit too far.
Zero Run did not take the first echelon's "Wei Xiaoli" seriously at all, and did not even take the "new energy leader" BYD seriously.
first talk about the number of R&D personnel.
Leapmotor's R&D team is led by Cao Li, Zhou Hongtao and Wu Cun, and is supported by members with expertise in electronic and electrical architecture, electric drive systems, battery systems, artificial intelligence , automotive engineering and information technology.
Among them, Cao Li is responsible for cars and batteries, Zhou Hongtao is responsible for autonomous driving and automotive electronics, and Wu Cun is responsible for electric drive.
As of March 31, 2022, Zero Run R&D team had more than 1,389, accounting for about 32.1% of the total number of Zero Run employees.
latest data is that as of June 30, 2022, Leapmotor has a R&D team composed of 1,869 members, accounting for about 32.7% of the total number of employees, which has increased slightly overall.
In comparison:
NIO revealed at the performance meeting in March this year that the R&D team size reached nearly 9,000 people by the end of the year.
Xiaopeng Motors The number of R&D personnel at the end of the third quarter of 2021 has exceeded 4,000.
As for Ideal, as of the end of 2021, Ideal R&D team had 3,400 people. No matter which one of the "Wei Xiaoli" is too far behind. In terms of R&D investment, Zero Run in 2019, 2020, 2021 and the three months ended March 31, 2022, R&D expenditures were RMB 358 million, RMB 289 million, RMB 740 million and RMB 242.5 million respectively.
is right, you read that right, the total R&D investment in more than three years is only 1.6295 billion yuan.
Let’s take a look at “Wei Xiaoli”. The data for the second quarter of this year:
NIO’s R&D investment of 2.15 billion yuan;
Xiaopeng’s R&D investment of 1.265 billion yuan;
Ideal Q2 R&D investment of 1.53 billion yuan.
Leapmotor's expenditure in more than three years is not as high as that of "Wei Xiaoli" in a quarter.
I don’t know how such pitiful investment helps Leapmotor establish the so-called “leading advantage”?
In terms of forward-looking technical layout, Zero Run is behind again.
Pilot Assistance
First talk about the pilot assistance function, Zero Run's pilot assistance is called "NAP Intelligent Navigation Assistance Driving".
In this regard, Zero Run's official statement is: it is expected to further provide OTA firmware upgrades in 2022 to realize the highway intelligent pilot assisted driving function.
has only been three months since the end of this year.
Compare:
NIO NOP pushes users in October 2020
Xiaopeng NGP starts pushing users in January 2021
Ideal NOA pushes users in December 2021
Zero Run is slow again.
As for higher-level urban navigation assistance.
In September 2022, Xiaopeng City NGP was piloted in Guangzhou, and Xiaopeng Motors became the first car brand to allow high-end intelligent assisted driving to mass-produce and implement in the urban market scenario;
Ideal, the plan given is: this year, AD MAX high-speed NOA will be realized, urban NOA will be provided in 2023, and urban FSD will be realized in 2025.
So what about zero running?
Leapmotor is scheduled to provide city road pilot assisted driving on Leapmotor Pilot in 2024.
2024, yes, 2024.
As a technology company that claims to be its own "full stack self-development", it is so slow in the layout of forward-looking technology.
As for the 800V high-voltage platform, Zero-Player is currently conducting research and development of related technologies and plans to use silicon carbide materials in multiple electric vehicle systems, including car charger , DC/DC converter and motor controller .
is equipped with this platform and is expected to support 400kW ultra-fast charging function, achieving 5 minutes of charging and a range of 200 kilometers.
Zero Run plans to start mass production of models equipped with this system by 2024.
In comparison, Xiaopeng G9 has already achieved the launch of 800V high-voltage models and will be delivered in October this year.
In 2023, the Ideal 800V platform pure electric vehicles will also be released for mass production.
and in system architecture, this is true.
"Leapmotor will increase investment in the development of next-generation automotive electrification technology, including centralized electronic and electrical architecture, high-voltage electric drive systems and higher-integrated battery systems to further improve the performance and reliability of smart electric vehicles."
is just one step slower.
The competition for new energy vehicles in the first half was electrification and the second half was intelligence.
Zero-Park itself also said "software-defined cars" and "software is the soul of smart cars", but it did not do a good job in the relevant experience.
If a relevant leader of Zero Run saw the article, I really recommend Zero Run to increase R&D investment and slowly make up for the gap as soon as possible. Otherwise, the gap between Zero Run and "Wei Xiaoli" will become bigger and bigger.
So, the question is, does Zero Run have no money to invest?
is not the case.
Zero Run and "Wei Xiaoli" are in the same situation, and they are both constantly losing money.
Leapmotor's net losses in 2019, 2020, 2021 and the three months ended March 31, 2022 were RMB 901 million, RMB 1.10 billion, RMB 2.846 billion and RMB 1.042 billion, respectively.
As of the end of the first quarter, the cumulative loss was 5.889 billion yuan.
At the same time, Leapmotor said: "Due to investing in the research and development of future models and smart electric vehicle technologies, and the expansion of production facilities, sales and service networks, it will continue to lose money in 2022."
However, Leapmotor is still very rich now.
As of March 31, 2022, Leapmotor's working capital was RMB 5.5324 billion, including cash and cash equivalents RMB 4.2771 billion, wealth management products RMB 301.3 million and restricted cash RMB 954 billion.
Leapmotor wrote: "Our total cash balance is sufficient to cope with the net cash flow of for operating activities , providing sufficient working capital for our continued business operations."
Since it is now listed, what Leapmotor needs to do is to make investments as soon as possible.
Otherwise, I don’t know how I die then. What are the advantages of
Zero Run?
The advantage of Zero Run is that the product is very cost-effective. The price range set by Leap Run for itself is 150,000-300,000.
Excluding the S01 that should be discontinued, the three current products of LePan, T03, C11, and C01, are all very powerful.
Take C01 just released as an example. The lowest-equipped model with a maximum of less than 200,000 yuan is more attractive than the same-level and configuration models of BYD and Xiaopeng.
htmlOn September 21, the official said that the booking volume had exceeded 100,000 units, which was a hot product.This is also Zero Run's usual strategy. Relying on this strategy, Zero Run gradually counterattacked and became the second-tier player of the new force, and even achieved its current listing.
As of August this year, Leapmotor has delivered a total of 76,563 cars in 2022, a very good result.
According to this trend, Leap Racing will be able to deliver 100,000+ trolleys this year.
But I just said that if rely solely on cost-effectiveness, it is impossible to build its own real moat, because this is also easy for the opponent to copy.
For example, Nezha, who is also in the second echelon, has a similar strategy.
In addition, there is another problem facing Zero Run: achieve profitability.
From 2019 to the end of the first quarter of 2022, Zero-Player's gross profit margin is as follows:
2019-95.7%
2020-50.6%
2021-44.3%
2022-26.6% at the end of the first quarter of 2022.
Zero Run's next goal is to turn positive gross profit margin, then break even, and then make profits. In comparison with
, Wei Xiaoli has achieved positive double-digit gross profit.
Although Zero Run has entered the top three new forces for two consecutive months in terms of sales, it still has a very long way to go before it truly enters the top three.
. In terms of product layout, next, Leapmotor plans to launch seven new pure electric models before the end of 2025 at the rate of one to three models per year, covering various sizes of sedans, SUVs and MPVs.
All seven new models are planned to be developed on the A, C and D platforms of Zero Racing.
In addition, it is worth noting that in addition to pure electric models, Zero-Pony also plans to launch an extended-range version of these new models based on self-developed extended-range technology at the same time or later to expand the target audience, thereby encompassing customers with different needs and preferences. The idea of
is actually consistent with Nezha Auto, which is also a new force. The newly launched Nezha S has both pure electric versions and extended-range versions.
What is known at this time is that Leapmotor will launch an extended-range version of the C11 this year.
As of July 31, 2022, the Leapmotor sales and service network consists of 443 stores covering 151 cities in China, including 49 direct stores and 394 channel partner stores.
Next, Leapmotor will further expand its sales and service network, while increasing its brand marketing investment and enhancing its brand awareness.
In addition, Zero Run has also begun overseas layout. The latest news in September, the first batch of T03s from Leapmotor was exported to Israel, and has passed the EU vehicle certification, obtained a sales license in the European market, and can be officially registered in all EU countries.
Zero Run plans to set up its first overseas flagship store in Europe by 2023. At the same time, enter other major markets around the world at the right time. In terms of the
factory, Leapmotor has built its first factory in Jinhua City, Zhejiang Province: Jinhua factory.
At present, the current annual production capacity of the Jinhua factory production line is 200,000 vehicles. The Jinhua factory will continue to produce T03, C11 and C01.
At the same time, Zero Run second factory is also in progress. In March 2021, Qiantang New District signed a contract with Leapmotor for a new energy vehicle project, and the second factory was launched in Hangzhou.
In December 2021, Leapmotor completed the acquisition of relevant plots to build the Hangzhou factory. It is expected that the Hangzhou factory will start producing core components in the second half of 2023.
was written at the end
I think many people didn’t expect that Leapmotor would become the fourth car company to go public.
Zero Run can break through the siege, have its own product strategy, and capture a large number of users with extremely high cost-effectiveness.
Zero Run's counterattack is really not easy.
However, for Zero-Player, there are many things to do:
1. The most important thing is to increase R&D investment, improve product intelligence, and build your own technology moat;
2. Improve gross profit and strive to turn positive gross profit, to break-even, and then to achieve profitability. This is very time-consuming
Zero-Player needs to continuously improve its product strength.
Next year, Ideal mid-sized cars with 200,000 to 300,000 yuan will be launched. After that, NIO will position new brands and products with 200,000 yuan to 300,000 yuan, as well as the latest NT3 smart platform of .
Of course, there are many traditional car manufacturers and new models.
Yes, and Mr. Lei’s Xiaomi Auto.
The 150,000-300,000-300,000-100,000 market anchored by Zero Run will definitely become the most competitive battlefield.
So, at that time, what was the most core competitiveness of Zero Racing?
This is a question that Zero Run needs to think about now.
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