As a traditional motor city, Chongqing may usher in the first new force.
On December 15th, Tang Liangzhi, Deputy Secretary of Chongqing Municipal Party Committee and Mayor of Chongqing, met with Li Xiang, founder, chairman and CEO of Ideal Automobile, and witnessed the signing of a strategic cooperation framework agreement between the Chongqing Municipal Government and Ideal Automobile.
Li Tie, co-founder and chief financial officer of Ideal Automobile, and municipal leaders Duan Chenggang and Chen Jinshan attended.
During the talks, Tang Liangzhi said
Ideal Automobile is a representative enterprise of the new domestic car-making forces, hoping to take this signing as an opportunity to actively participate in the development of Chongqing's automobile industry, focus on scientific and technological innovation and industrial innovation in the automotive field, and create a new energy vehicle and intelligent networked automobile industry development ecology in Chongqing. Chongqing will make every effort to provide service guarantee for Ideal Automobile and actively support ideal automobile to develop and grow in Chongqing.
Li would like to thank the Chongqing Municipal Party Committee and the Municipal Government for their support for the development and project construction of Ideal Automobile in Chongqing.
He said that Chongqing has a good development environment, a solid industrial foundation and a broad market space, and has achieved remarkable results in promoting the transformation and upgrading of the automobile industry and high-quality development.
We are full of confidence in the further deepening of cooperation between the two sides, and will actively give full play to their own advantages, increase the investment layout in Chongqing, continue to deepen strategic cooperation with Chongqing, make cooperation projects in Chongqing bigger and stronger, and contribute more to the high-quality development of Chongqing's automobile industry.
Returning to the fate of the ideal car and Chongqing, the electric vehicle license plate of the capable sail is the first time.
As early as December 2018, ideal automobile was still looking for electric vehicle production qualification car license, through the acquisition of Lifan Automobile, a company under Lifan shares at that time, it had an electric vehicle production qualification car license.
In October 2019, Ideal Automobile established Chongqing Ideal Automobile Co., Ltd. in Chongqing with a registered capital of 546 million yuan, and increased its capital to 1.092 billion yuan in April 2021.
Ideal Car has also been very popular in Chongqing, ranking in the top five monthly sales volume all year round.
However, Ideal Auto has never had a production base in Chongqing.
Up to now, all the products on sale of Ideal Auto Ideal ONE are produced by the manufacturing plant in Changzhou, Jiangsu Province. The plant will have an annual production capacity of 100,000 units in the first phase, and an annual output of 200,000 units will be achieved after the completion of the new plant in 2022.
In the first half of 2021, Ideal Auto just won hyundai Motor's first plant in Beijing, and on October 16, Ideal Auto announced that its Beijing Green Smart Factory officially started construction in Shunyi District, Beijing. With an estimated total investment of 6 billion yuan, the plant is scheduled to start operations in September 2023, and after the start of production, the first phase will achieve an annual production capacity of 100,000 pure electric vehicles. In 2024, the industrial output value will reach 30 billion yuan.
The second factory has just landed, does the ideal car need a third factory?
Judging from the current product logic, the preparation of the third factory is beyond reproach.
According to ideal's new car plans previously disclosed at the listing hearing on the Hong Kong Stock Exchange, it will launch a new "X" platform in 2022 and release a full-size luxury intelligent range extender electric SUV, followed by two suVs of the same power type. From 2023 onwards, it plans to launch at least two high-voltage pure electric models per year, and the new cars will be developed based on the Whale and Shark platforms.
The next-generation range extender X01 will be released in the second quarter of 2022 and delivered in the third quarter. Ideal is currently working with suppliers to develop 4C magnification batteries and will build its own 800V charging station in the future.
The latest delivery data shows that in the third quarter of 2021, the delivery volume of the ideal ONE was 25,116 units, an increase of 190.0% year-on-year. On December 1, Ideal Auto announced its November 2021 delivery data. Ideal Cars delivered 13,485 Ideal ONE units in November, an increase of 190.2% over November 2020.
Ideal's revenue for the third quarter of 2021 totalled RMB7.78 billion (US$1.21 billion), an increase of 209.7% from RMB2.51 billion in the third quarter of 2020 and an increase of 54.3% from RMB5.04 billion in the second quarter of 2021. Ideal Auto's Q3 loss was only more than 20 million yuan, and its cash reserves reached 48.83 billion yuan. It is the company with the largest cash reserves in Wei Xiaoli, and it also has the strength to carry out factory development, you know, Xiaopeng is already three factories.
There are also rumors in the industry that Ideal Automobile will acquire the fifth factory of Beijing Hyundai Chongqing in Yuzui, Jiangbei District.
From January to October 2021, Beijing Hyundai's sales volume was about 290,000 vehicles, down about 27% year-on-year, and only about 52% of the annual target was achieved. At present, Beijing Hyundai's sales in the Chinese market have suffered a cliff-like decline, and overcapacity is serious.
If the ideal car can land a production base in Chongqing, it will play a major role in promoting the upgrading of Chongqing's traditional automobile industry chain, forming a highland of new regional new energy forces, and once again becoming the new home of China's new energy vehicles.