There are five things that need to be paid attention to during this period: Leapmotor cars are on the market in the new energy track, BYD held a press conference in Europe to sell 3 models, NIO's European battery swap station was built, Xiaopeng encountered a crisis, and the over

Hello everyone, I am Liu Honghe

Happy everyone First wishes you all happy eleven.

The market sentiment has been very poor recently, but usually poor sentiment also means opportunities.

There are five things that we need to pay attention to during this period: Leapmotor car is on the market with blood flowing, BYD held a press conference in Europe to sell 3 models, NIO European battery swap station was built, Xiaopeng has encountered a crisis, and the overall industry is about to begin to have an oversupply situation.

First talk about Leapmotor on Hong Kong stock : priced at HK$48, and once fell by more than 40% on the opening, and continued to fall by more than 20% the next day. The current price is just halved by 24.8 yuan, with a market value of HK$28.3 billion.

is the main reason for the listing to fall so much. The timing of listing is that the United States began to raise interest rates at , and in addition, the three companies of Wei Xiaoli generally fell more. As the fourth listed Zero Run, it does not require any reason, and naturally fell together.

is actually not bad from the perspective of valuation. What I have learned at present is that the C round valuation is 26 billion yuan, corresponding to the same Hong Kong dollar as 28.6 billion yuan, which means that the price has almost reached the cost line of the C round investors. Compared with the other company, which sells an average of more than 200,000 yuan and has a market value of less than 80 billion Hong Kong dollars, the valuation of Leapmotor is still very cheap. When I wait for the right opportunity later, I will make some votes.

Leap Run has talked about this company several times before, and it is not as unbearable as it is said online. Some people think that the price of cars is low. Currently, T03 has given production capacity to C11 and C01 by raising prices. C11 has raised its price once before, and it has basically stood firm in the 200,000-level market. You should know that if you can sell more than 200,000 yuan in China, it is the mid-to-high-end market, so there is basically no need to worry too much about sales.

The biggest question about LeBron is the problem of selling cars with negative gross profits. In fact, I mentioned this several times in my previous article. LeBron uses To B to create the To C market product model, so it is normal to sell cars with negative gross profits in the early stage. Many people don’t understand how the company’s subsequent gross profit will increase. In my opinion, it depends on R&D.

—Many of Zero Run’s things are self-developed, and the self-developed here is different from Wei Xiaoli.

Wei Xiaoli pursues self-development to make his products the best in some aspects. Zero Run pursues self-development and skip some suppliers, thereby greatly reducing the cost of his products. For example, self-developed oil-cooled motors is very unfavorable for Xiaopeng Ideal, because now, the efficiency of any motor is more than 90%. Even if the self-developed one, Zero-Play cannot make the motor efficiency reach 98% to crush its peers. However, it does spend its energy to invest in the cost of self-developing motors and build a motor production line in the factory, which is obviously for the cost.

Interested friends can read the previous article.

Next let’s talk about BYD .

BYD's recent big move was to hold a press conference in Europe - it was exported directly to Europe and sold by channel agents, but now it plans to start with it in person and launch three models: Han, Tang and Yuan PLUS.

There will be three highlights in this release:

First of all, the theme of the press conference is "Current 1℃ for the earth" - For Europe, which is extremely politically correct in carbon reduction and environmental protection, when they cannot guarantee winter heating and see this 100% politically correct theme from BYD, what do they think so?

followed by three models released. The Han name is han and the Tang name is tang. When it comes to Yuan, it becomes atto3. Friends who are familiar with history should laugh out loud when they see this - BYD has found an international public relations level for European releases, and knows that Europe was once beaten very badly by Mongolia, and the "Yuan Dynasty" can easily think of its own beating. Go...

The last highlight is the price: the price of PLUS in Germany is 38,000 euros, and the price of 72,000 euros in Han and Tang Germany is 72,000 euros, which is basically more than twice the domestic price. This price even in Germany is catching up with Mercedes-Benz ... It cannot be said that BYD's operation can give full marks.

First of all, for some people who subconsciously believe that foreign products are better than domestic, once they see that BYD's products are the same as Huawei launched mobile phones back then, it appears that foreign products are more expensive than domestic, and can also sell good sales, it will basically make many people change their views on the BYD brand.

From a general logic point of view, in recent years, the annual sales of domestic automobiles have basically stabilized at around 20 million vehicles, basically reaching the ceiling. In addition, the impact of the epidemic has led to insufficient consumption power, so the competition in the market will become more and more fierce. This week, NIO officially opened its first battery swap station in Europe, and Ideal released L8 and L7 models at the same time. Tesla is preparing to significantly reduce the price to promote sales, which means that the domestic market may soon turn from insufficient supply to oversupply.

In the new energy track, the ones that are most worried about orders are Tesla and BYD, so these two companies are also the ones who are least afraid of rolling.

For BYD, which has no historical burden in the European market, on the one hand, it can test the European market with pure product strength, and on the other hand, it will also enhance the image of the BYD brand in the minds of Chinese consumers.

From an investment perspective, if BYD can have good sales in Europe, it means that the company has more room for growth in the future - The probability of this happening is relatively low . After all, although BYD has no historical burden in Europe, it also means that BYD does not have a brand premium. Therefore, setting a price that matches Mercedes-Benz will still require market testing to get how much consumer recognition it can be.

From a general trend, it has become an inevitable trend for Chinese car companies to go overseas, just like Chinese mobile phone manufacturers went overseas. NIO is the most advanced in going overseas:

Hotel is currently the leading company:

Hotel battery swap station in Germany was officially launched in Zusmarshausen, located next to the busy A8 expressway between Munich and Stuttgart.

For car companies, exporting cars to Europe is a completely different concept from planning to develop in Europe - export cars only need to find the right channel, and to establish themselves in the local area, not only does the company work hard on strategy, but also requires the company to start investing in infrastructure.

NIO ET5 and ET7 I have simply experienced it. The rear space of ET5 as an B-class car feels too small. The overall interior feels like the Nordic style, which is very similar to that of Nordic, and is different from the luxurious interior style that everyone understands in the traditional sense, but this should be very pleasing to Nordic.

Compared with NIO and Ideal's "singing and rapid progress", Xiaopeng, who is also a new force, is a bit miserable: the launch of the

G9 model is frustrated due to the pricing and poor SKU combination method, and the large-scale quantity is very poor. Although Xiaopeng officially remedies it in the future, it will be an unknown number of how much it can be remedied.

For example, the fast charging in the picture above was vigorously promoted when it was preheated on the market, but after it was launched, everyone found that you have to add 10,000 yuan to choose this thing? ? ? ? If you want to add 10,000 yuan to choose this, it would be fine, but in the initial launch plan of Xiaopeng G9, not only did almost all selling points require additional money to choose, but the entry-level model is even a "mentally retarded model" that does not even have ACC adaptive cruise.

So the collapse of G9 orders is inevitable.

Some media defined Xiaopeng's mistake as "Everyone within Xiaopeng wants to do the best, so everyone is not convinced by each other, which led to the failure of G9." I think this is purely because I am afraid that He Xiaopeng can't hide his face and said it to him hahahaha...

Anyone who works in large enterprises knows . For the launch of such an important flagship model, the founder will definitely go through various plans with the team. In the end, each department can make its own suggestions, but the price and strategy of G9 will be adopted in the end, and He Xiaopeng himself will decide.

I have talked to several people from Xiaopeng, and after reading some articles written by former employees, I found that the real problem with Xiaopeng was not He Xiaopeng's judgment, nor was it Xiaopeng Motors internal communication problems, but a pure man-made disaster -

can be seen from the emergency remediation after the incident, Hi Xiaopeng has become strict with the competitive situation in the industry Heavy misjudgment , and this misjudgment is not blamed, because as the CEO of a company, Xiaopeng himself has no time to compare and understand the various details and strategies of the products of his competitors. Therefore, many times, the department will write the situation of market competition and the performance of his own products into the PPT and then report it in a certain meeting. So in fact, the CEO of a car company's judgment and understanding of the market, except for the extremely limited time he takes a rough look at it himself, most of the remaining time is obtained by listening to reports from various departments.

Similarly, Lei Jun takes Xiaomi to build cars. Many times Rebs ’s understanding of the industry and the basis for making decisions are all internal reports.

And in the management's report to Xiaopeng, it is estimated that the competition situation has been "beautified".

This is the most taboo thing in corporate management, so whether Xiaopeng Motors will live or die next depends on whether He Xiaopeng has the courage to come out and investigate the real market competition situation like the librarians back then, such as what strategies the Friends' Chamber of Commerce will come out and what services it provides, and then compare it with the previous reports submitted by the management based on the results of his own research, and you will know whether the enemy is in Benneng Temple.

Finally, let’s summarize: The smart core selling point of Xiaopeng Motors is currently recognized by the market, but it is actually difficult for mainstream users to figure out the differences between Xiaopeng’s car machines and NIO, Huawei and BYD’s car machines in a short period of time. For 90% of users, even if there is a useful tablet in the car, it is considered a "smart car". This is the biggest problem that Xiaopeng encountered in opening the market.

is the same, so among the most sales models on the market, there is indeed no one that focuses on the difference in intelligence.

What Xiaopeng needs to do is to adjust the product planning on the one hand, and to find a way to promote it based on its intelligent strengths, so that consumers can understand that Xiaopeng's experience in car-computer interaction and voice is completely different from other brands.

How to do it depends on the ability of the public relations and marketing departments to tell stories.