The new forces of car-making are in full swing
2 billion yuan of financing is not much for car manufacturing, but for the new forces of car manufacturing, every "blood transfusion" is precious.
Recently, it is reported that Nezha Automobile has obtained another 2 billion yuan of D++ round financing, and the valuation has jumped to 25 billion yuan. At present, Nezha has started a Pre-IPO round with a target valuation of about 45 billion yuan, and plans to launch an IPO in Hong Kong within this year.
In fact, it is not Nezha Automobile that has exposed the rumors of listing. Zero-run Auto completed a 4.5 billion yuan Pre-IPO round of financing in August last year; WM Motors also reported that it would switch from the Science and Technology Innovation Board to Hong Kong stocks; and Gaohe Automobile, a subsidiary of Huaren Express, also made noise.
Nezha Automobile has received great attention and is closely related to the pattern and capital of the new domestic car-making forces.
Image source: Visual China
Second echelon counterattack
From the sales point of view in January 2022, Xiaopeng Automobile (12,922 units) and Ideal Automobile (12,268 units) still ranked in the top two, and Nezha Automobile (11,009 units) surpassed Weilai Automobile (9,652 units) to rank third, and the top three sales exceeded 10,000. Zero-run car sales rose to 8,085 units, approaching NIO.
The original first echelon has quietly changed from "Wei Xiaoli" (Wei Lai, Xiao Peng, Ideal) to "Xiao Li Na" (Xiao Peng, Ideal, Nezha), and the "game breaker" is Nezha Car. The second echelon of zero-run cars still maintained an upward momentum, while WM Motors gradually fell behind, and did not even disclose sales in January this year.
However, from the total delivery data in 2021, Xiaopeng Automobile (98,155 units), Nio Automobile (91,429 units) and Ideal Automobile (90,491 units) ranked in the top three. Nezha Automobile (69,674 vehicles) ranked fourth, with a gap of more than 20,000 vehicles from third place.
Although the short-term sales are not enough to discuss success or failure, this precisely reflects that the new forces of head car manufacturing are not insurmountable. At the same time, the sales volume of more than 10,000 vehicles is now almost the same as the monthly sales of new energy vehicles in traditional OEMs. For example, Great Wall Motor sold 12,821 units in January and SAIC Motor's passenger cars at 9,999 units, making the new car-making forces no longer weak.
Therefore, "ten thousand vehicles" has become a "watershed", and even a "lifeline", how to impact and adhere to this "lifeline", are placed in front of all new energy vehicle manufacturers, including new car-making forces.
The game behind sales
In fact, behind the sales volume is not only the competition of technology and services, but also the game of brand positioning, cost, marketing and other aspects.
All along, new energy vehicles have been crowned with the labels of "high-end", "intelligent" and "luxury", and are more known as the combination of automobiles and technology. Influenced by Tesla, almost all new car-making forces are taking high-end, luxury positioning, often priced at 300,000-400,000, or even higher prices, comparable to mercedes-Benz, BMW and other traditional high-end models. At one time, there was such a saying: less than 200,000 can not build intelligent electric vehicles.
For example, "Wei Xiaoli" takes the high-end intelligent route, emphasizing the sense of science and technology and experience. Among them, while creating a high-end brand image, Weilai Automobile also pays attention to building a fan culture and enhancing user stickiness with services; Xiaopeng Automobile pays attention to intelligent genes and integrates a large number of cutting-edge technologies, mainly for young people; Ideal Car focuses on home users and aims to improve user experience.
But market demand is not static. Models such as SAIC-GM-Wuling and Great Wall Euler that focus on the entry-level market and female users have also killed a bloody road, breaking the situation of high-end models dominating with staggering low prices.
At the same time, the potential of the mid-market is beginning to emerge. New car-making forces such as Nezha Automobile and Zero-Run Cars began to occupy the market with models priced at 100,000 or less, and even sank to third- and fourth-tier cities. Like SAIC-GM-Wuling's "people's scooter", Nezha Automobile's slogan is "build a car for the people", and the target group is the mass consumer market; the positioning of zero-run cars has always been innovative and intelligent, and from the perspective of recently launched new models, they are all people-friendly prices below 100,000.
In terms of sales, the new forces of car manufacturing generally adopt the form of direct sales, and the sales outlets are in the bustling areas with large traffic such as shopping malls, which are closer to consumers and easier to promote sales. Recently, the Ministry of Industry and Information Technology issued a notice of declaration for models related to new energy vehicles going to the countryside, with the intention of promoting the popularization of new energy vehicles.
In addition, under Tesla's "catfish effect", some auto parts that were originally on the top began to move towards localization and localization, and the cost dropped sharply, promoting the development and progress of the domestic automotive industry chain. For example, the cost of lidar, which is indispensable for intelligent driving, has dropped significantly, and even a solution of about 10,000 yuan has emerged, further reducing the threshold of intelligent electric vehicles.
It can be seen that for the new forces of car manufacturing, clear brand positioning, accurate target audience and affordable prices have become another trend and breakthrough in the new energy vehicle market. Recently, the sales of Nezha automobiles and zero-run cars have soared, and the "lifeline" of crossing or approaching "ten thousand vehicles" is the best example.
The power of capital
Car building is a "money-burning" transaction, but also a "bottomless pit".
For the new forces of car manufacturing, the power of capital is even more indispensable. The goal of "10,000 vehicles" is not only a measure of strength, but also a weight to attract capital to inject.
Just as Nezha's automobile sales have continuously exceeded 10,000, this time it has once again received 2 billion yuan of financing, which is undoubtedly the recognition of capital and is expected. Similarly, behind the zero-running cars and Weima cars, there are also a large number of capital injections, including many "national teams" and local state-owned capital.
Not long ago, Hillhouse's latest U.S. stock positions were exposed, in the fourth quarter of last year, Hillhouse's HHLR Advisors bought Xiaopeng Automobile and Ideal Automobile significantly, with an increase of 455% and 363% respectively, ideal Automobile ranked among the top ten heavy stocks held by Hillhouse U.S. stocks for the first time, becoming its tenth largest holding stock. However, Hillhouse's operation of Weilai Automobile in the three new car-making forces is completely different, selling nearly 60% of Weilai's positions in the fourth quarter.
In fact, since last year, the sales of Xiaopeng Automobile and Ideal Automobile have surpassed Weilai Automobile, although Weilai Automobile has encountered the dilemma of chip shortage, but this is difficult to say coincidentally with Hillhouse's reduction.
The blessing of capital not only means "money", but more importantly, the endorsement of capital and the support of resources from all parties, once it obtains the support of well-known investment institutions, industrial chain capital and "national team", it is bound to push it onto the "fast lane".
At the same time, going public has always been the only way for start-ups, including new car-making forces, to break through. Previously, the "Wei Xiaoli" of the first echelon was able to get out of the predicament through listing and with the help of the power of capital. Moreover, listing also contributes to the enhancement of brand value, creating brand awareness and recognition. Today, the purpose of the listing of Nezha Automobile, Zero Run Automobile and WM Automobile is also the same.
There is no doubt that who can "survive" in the fierce competition, truly rank among the first echelon, and change the industry pattern, the power of capital is extremely critical. In addition, new energy vehicles are also facing various problems such as difficult charging, slow charging, low retention rate, and subsidy decline, and need to be broken through urgently.
Of course, the game is inevitable. ■
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