In the eyes of many people, "eye master low" is almost synonymous with Evergrande Automobile. In order to get rid of such a dilemma, Liu Yongzhuo, president of Evergrande Automobile, announced on October 11 that he would fight a three-month battle to ensure that the first model Hengchi 5 rolled off the production line at the Tianjin plant early next year. At that time, many melon-eating masses held a negative attitude towards this.
Recently, the network exposed the whole line of the assembly workshop of Evergrande Automobile Tianjin Factory, and the photos of Hengchi Automobile's first model Hengchi 5 rolling off the production line at the Tianjin plant. From now on, Evergrande Automobile has indeed achieved results in just three months.
However, in Xiao Lei's view, Hengchi Automobile, which is now "forced" to achieve mass production off the production line, is no longer the Hengchi Automobile that can make Boss Xu feel angry before. In addition, the final assembly line of the Tianjin factory and the downline of Hengchi 5 have only allowed Evergrande's car-making plan to see a glimmer of light at best, and there is still a long way to go before success.
A brief history of Evergrande's car manufacturing
Since Evergrande Group's high-profile announcement into the automotive field, the topic of its car-making has never stopped. It's just that at first people were optimistic about the rich Evergrande Automobile, until at a certain point in time, this optimistic attitude suddenly turned into a sigh.
Evergrande Automobile can be said to be the car company with the highest starting point in the world. As for how high evergrande automobile's starting point is, we can see it from Xu Jiayin's "Evergrande New Energy Vehicle Global Strategic Partner Summit" held in November 2019 when he talked about Evergrande's new energy vehicle strategy. Its "buy, buy, buy", "fit", "circle" car-making mantra is essentially to buy technology through "burning money".
That is, the core technology that can be bought and the enterprises that can be bought are bought; if they cannot be bought and cannot be bought, they will cooperate with them in all aspects; at the same time, they will establish a strong circle of friends in the field of automotive engineering technology, the field of modeling design, and the field of parts supply chain, and sign strategic cooperation agreements with head enterprises.
Liu Yongzhuo, president of Evergrande Automobile, said at the 2021 Shanghai Auto Show that as of the first quarter of 2021, Evergrande has invested 47.4 billion yuan in the field of new energy vehicles. Among them, Evergrande Automobile adheres to the strategy of "buying, buying and buying", and its "research and development" expenditure has reached 24.9 billion yuan in just 2 years. In order to obtain dual qualifications for vehicle manufacturing and sales, it spent another US$1.3 billion (about 8.2 billion yuan) when it wholly acquired NEVS.
At the scale level, Evergrande Group has laid out a "big big" bureau for its new energy automobile industry. Evergrande Automobile not only declares that it will simultaneously develop 15 models, but also establish 10 major vehicle production bases around the world, and reach a production scale of 1 million vehicles in 2-3 years and more than 5 million vehicles in 10-15 years.
Whether from the perspective of spending money or layout, Evergrande Automobile's big strokes at that time were enough to make many people stunned. However, Evergrande Automobile's turn this year directly made everyone drop their jaws.
On April 20 this year, Evergrande Automobile was exposed by the melon eaters at the Shanghai Auto Show that 9 exhibited models were empty shell models. It is worth mentioning that for the "empty shell model", which has been pushed into the hot topic of network public opinion, Evergrande Automobile did not give a positive response.
In addition, in fact, as early as the 2020 semi-annual report performance meeting, Evergrande officially said that its new energy vehicle products will be trial production in the first half of 2021, and strive to officially mass production in the second half of 2021 and deliver in 2022.
Boasting about haikou's grand ambitions, delaying mass production of new cars, and inflated market value have made investors lose confidence in Evergrande Automobile's investment, which then led to evergrande automobiles, which once climbed to a market value of 600 billion Hong Kong dollars, began to collapse in an all-round way, entering the darkest moment for more than half a year.
In the past two days, Evergrande Automobile finally has the good news related to mass production, which makes it usher in a glimmer of light in the darkest moment.
Evergrande Automobile is still far from success
For a car company, the completion of the factory production line also means that it has the ability to mass production. The reason why Evergrande Automobile has been depressed in the past six months, in addition to the parent company's heavy debt, the biggest reason is that the previous rumors have made investors lose confidence in it. The impact of evergrande automobile's final assembly line at tianjin plant and the off-line of Hengchi 5 on Evergrande Automobile is obvious.
In terms of market capitalization, the news that Evergrande Automobile's Tianjin factory assembly line has been through and Hengchi 5 has brought investors back to confidence in Evergrande Automobile, which has directly led to its stock price, which has been lying flat on Hong Kong stocks for 3 months, suddenly soared by more than 18% in recent days, and the market value has risen to 35.459 billion Hong Kong dollars.
In Xiao Lei's view, the production line is through, the new car is off the line, and the market value is rising, at best, which can only bring a glimmer of hope for success to evergrande automobile, which was originally full of crises. As for whether its stock price can continue to rise, it depends on its subsequent development. Although Evergrande Automobile is only one step away from large-scale mass production, whether it can gain a place in the fiercely competitive market after mass production of its products is the key.
It is reported that the Hengchi 5LX is positioned as a pure electric compact SUV, with a body length, width and height of 4725 * 1925 * 1688mm, and a wheelbase of 2780mm. In terms of power, it is expected to be equipped with an electric motor produced by United Automotive Electronics Co., Ltd., with a maximum power of 150 kW (204 hp) and a comprehensive cruising range of up to 700 km. According to Evergrande Automobile's previous planning, the price range of Hengchi 5 should be below 200,000 yuan.
From the perspective of this set of parameters, Xiao Lei believes that the product strength of Hengchi 5LX can only be regarded as decent in the fiercely competitive new energy vehicle market. It should be known that although the price segment within 200,000 yuan is the best entry point for "newcomers" in the industry, it is also the most competitive automobile market.
In the new energy vehicle market in this price range, there is BYD, a giant in the field of new energy vehicles, and there are new car-making forces such as Xiaopeng, Weima and Nezha. Hengchi 5LX and these BYD Song Plus, Song Pro, Xiaopeng G3, WM W6, Nezha U and other models to seize the market is tantamount to snatching food from the tiger's mouth.
In addition, BYD, Xiaopeng, WM, which have established a foothold in the industry car companies have the opportunity to trial and error, and Hengchi 5LX, as the life-saving straw of Hengchi Automobile, is also the most popular model in the product sequence of Hengchi Automobile, and its market performance will directly determine the fate of Hengchi Automobile.
Only after Hengchi 5LX successfully opens the market, Evergrande's early purchase of a large number of technologies and reserve production capacity can be useful. On the contrary, the failure of Hengchi 5LX will make investors discouraged again, making the situation of Evergrande Automobile even worse. In addition to the product strength of Hengchi 5LX, the brand power of Hengchi Automobile will also worry many people.
It is difficult for Evergrande Automobile to regain its strength
With the rapid development of the global new energy automobile industry in recent years, China's traditional car companies have transformed into pure electric vehicles, and new car-making forces involved in the automotive field have emerged in an endless stream. Therefore, if an unknown car company wants to break through its own side of the world in the highly competitive automobile field, it is not a simple thing.
In this regard, Li Bin, the founder of Weilai, once said that without 20 billion reserve funds, do not get involved in the automotive field. Now, having become the leader of the new car-making forces, he has changed his mouth and said that without 40 billion reserve funds, he may not be able to touch the threshold of the automotive field.
It can be seen that with the increase in the competitiveness of the new energy vehicle market, it has become more and more difficult for outsiders to enter the automotive field. The reason why Evergrande Automobile was able to create a market value myth without mass output of a car is largely based on Evergrande Group's money.
It should be known that with the rise of new car-making forces and the reduction of the entry threshold in the automotive field, China does not lack "car companies" that dare to speak wildly with only a PPT, and the former Evergrande Automobile is obviously the most arrogant one in the history of China's automobile industry, and it is also the most capital arrogant one.
However, today's Evergrande Group is in a financial crisis, so Evergrande Automobile can only bury its head in mass production. We can see from the initial release of 15 new cars by Evergrande Automobile, to the release of 6 models in the first phase, and then to the Hengchi 5, which is now going all out to mass-produce the most volume, and now Evergrande Automobile has long lost its ambition.
The main reason why the previous Evergrande Automobile can become a market value myth is precisely because investors see its ambition to develop 15 models simultaneously. In Xiao Lei's view, evergrande automobile, which has lost its ambition now, is difficult to return to the peak of its former market value.
Note: The material for this article comes from the Internet